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6�0 "AN ORDINANCE GRANTING A FRANCHISE TO THE FIRST NATIONAL BANK OF PARIS, PARIS, TEXAS, TO USE A PORTION OF THE SPACE ABOVE AND UNDER THE SURFACE OF THE SIDEWALK ON THE WEST SIDE OF 1ST STREET, N. W., BEGINNING 32 -1%6 FEET NORTH OF THE INTERSECTION OF THE STREET CURB ON THE WEST SIDE OF'SAID-lST STREET, N. W. WITH THE STREET CURB ON THE NORTH SIDE OF BONHAM STREET FOR THE PURPOSE OF MAINTAINING A PUBLIC SERVICE INSTALLATION KNOWN AS A DEPOSITORY; PROVIDING FOR A TERM OF TWENTY -FIVE (25) YEARS; AND FIXING THE RENTAL THEREFOR., was presented. A motion was made by Councilman Stone and seconded by Councilman Ster- Iing for the adoption of the ordinance on the third and final reading. The motion carried: 7 ayes, 0 nays. Mayor Brunette called for a- report and recommendations from the committee appointed- to study the Springlake Golf Course acquisition, the.committee being composed of Coun- cilman Rainey, Councilman Moore, and City Manager Sweatt. City Manager Sweatt gave the report to the Council in behalf of the committee in which their finding was that the golf course would not be self- supporting; that the weekly income was estimated at $945.00 per week or $49,140.00 annually and that the needed income to support the golf course would be $86,000:00, plus:. Mr. Ennis Richardson appeared before the - Council and questioned the figures as to the income. — A motion was made by Councilman Stone and seconded by Councilman Sterling to receive the report and make it part of the Council minutes. The motion carried: 6 ayes, 1 nay, Councilman King voting nay. A motion was made by Councilman Stone and seconded by Councilman Whitaker to decline the purchase of the Springlake Golf Course. A poll of the Council showed 5 ayes, 1 nay, and 1 abstaining, Councilman King voting nay, Councilman Sterling abstaining. Mayor Brunette called for the receipt of the agricultural lease bids on the Cox Field property. City Manager Sweatt presented the bids in detaii and recommended the bid of the AGPRO Corporation as the best long term bid. A motion.was made-by Councilman Sterling and seconded by Councilman King to award the bid to AGPRO, Inc. The motion carried: 7 ayes, 0 nays. Resolution No. 1748, authorizing City Manager Sweatt to execute on behalf of the City of Paris the agricultural lease with AGPRO, Inc. for Cox Field on the terms and condi- tions as proposed in the hid, was presented: A motion was made by Councilman Stone and seconded by Councilman Sterling for the adoption of the resolution. The motion carried: 7 ayes, 0 nays.