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Page 4 Fairground Committee May 20, 1991 Jess Nickerson, Attorney for the Red River Fair Association, pointed out there will be a change in the legal description in the sublease with the Paris Rodeo and Horse Club due to the horse barn reverting back to the Fair Association, and the legal description will be furnished later. Mr. Nickerson called the Committee's attention to Page 2, Section 1.02, Subsection b., which involves the option to extend the term, where it mentions August 12, 1996 and November 12, 1996, this will be corrected to read 1995 instead of 1996. Mr. Nickerson also called attention to the limits of insurance under Article 7, beginning with page 6, the limits of insurance will be change to $250/$500/100 which will conform to State law. Councilman Bell made a motion to recommend to the City Council to approve the sublease between the Red River Valley Fair Association and the Paris Rodeo and Horse Club as it is written with the above mentioned changes. The motion was seconded by Councilwoman Smith, and carried 3 ayes, 0 nays. Chairman Burnett announced the next item on the agenda was discussion of lease agreement between the Red River Valley Fair Association and the Lamar County Human Resource Council, and the Lease Agreement between the Red River Valley Fair Association and the Paris Jaycees. Chairman Burnett said one of the thing that was bothering him was the Fair Association was charging the Paris Jaycees $120.00 a night for bingo, and charging the Department of Human Resources $163.00 a night. Gordon Hogue, Director of the Red River Valley Fair Association, was present explaining that the Paris Jaycees furnishes the equipment for bingo, they play two session per week, whereas, the Department of Human Resources will be playing three times a week, part of their rent will be coming to the Fair Association, where the Fair Association reimburses the Jaycees $350.00, so the rental fees are very comparable. Mr. Hogue said both parties are aware of this and has agreed to this arrangement. Chairman Burnett made the statement that the financial statement submitted to the City from the Fair Association was very vague, and went over a portion of the statement including rent for the two organizations. Councilman Bell requested that the income be broken out on the copulation in order to provide a much more clearer picture of the Fair Association's income. After discussion was had with Mr. Hogue, and City Attorney Haynes, it was the consensus of the Committee to have W. E. Anderson, Director of Finance for the City of Paris, review the financial statements the City has received, report back to the Committee of what he needs to make a judgement in order to satisfy the needs of the City of Paris, and how often he needs this information, then report back to the Committee.