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RESOLUTION NO. 87 -006 <br />WHEREAS, the City Council of the City of Paris did <br />heretofore 'in Resolution No. 2080 authorize the leasing of <br />certain fairground property to the Red River Valley <br />Exposition, Inc.; and, <br />WHEREAS, the Red River Valley Exposition, Inc., has <br />reorganized as and is succeeded by Red River Valley Fair <br />Association, Inc.; and, <br />WHEREAS, Red River Valley Fair Association, Inc., has <br />requested an extension of the term of lease in order that <br />its sublessee may finance and construct some additional <br />improvements to the City of Paris fairground property; and, <br />WHEREAS, the City Council is desirous of continuing its <br />support of the Red River Valley Fair Association, Inc., and <br />its annual activities; NOW, THEREFORE, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />PARIS, That the City Manager of the City of Paris, Michael <br />E. Malone, be, and he is hereby authorized and directed to <br />execute on behalf of the City of Paris the Release of Lease <br />in the fora attached hereto as Exhibit A. <br />BE IT FURTHER RESOLVED, That the Mayor of the City of <br />Paris, Billy Joe Burnett, be, and he is hereby authorized <br />and directed to execute on behalf of the City of Paris the <br />Lease Agreement with Red River Valley Fair Association, <br />Inc., upon the terms and conditions and in the form attached <br />hereto as Exhibit B. <br />Passed and adopted this 12th day of January, 1987. . <br />ATTEST: <br />Mattie Cunningham, Cit ler <br />APPROVED AS TO FORM: <br />ty Attorney <br />Bi ly a Burnett, Mayor <br />