923 RES ANCHOR ENTERPRISES PRESENTED TO COP DETAILED PROPOSAL~ •
RESOLUTION NO, 923
WHEREAS, Anchor Enterprises, Inc. has presented to the City
Gouncil a deta.iled - proposal, consisting of three pages, and a plat of
Record Park which belongs to the City of Paris, for certa.in improve-
ments, and under certain terms and conrlitions, to be located on the
Record Park area, which Record Park area is bounded on the 5outh
by Henderson Street and on the West by 7th Street, N. W., in the City
of Paris; and,
WHEREAS, they propose certain attractive entertainment features
to be opened to the users of the Park, without charge, and certa.in
features, including a skating rink, a dance pavilion, a trampolene
center, a swimming pool, and a miniature golf course, which above
mentioned improvements will be enclosed in a cyclone fence, and
reasonable charges to be ma.de for the use of such facilities; and,
WHEREAS, the proposal provides for one per cent (1%) of the
gross receipts from any concessions, including drinks and foods, sold
on the concession areas during the first year of said lease, and one
and one-half per cent (1-1 1/2°fo) of the gross receipts thereon for the
next four (4) years, and two per cent (21o) of the gross receipts for the
pursuing five (5) years thereafter; and,
WHEREA5, said corporation proposes to lease the area involved,
as shown on said plat, for a period of five (5) years, beginning June 17,
1960, and continuing for a period of five (5) years, with an option to
renew such lease for an additional term of five (5) years, by giving to
the City Council written notice thirty (30) days prior to the expiratian of
the five (5) years of its intention to exercise its option to renew and
extend said lease, and in the second five (5) years if such option is
renewed and extended, the Lessee agrees to pay two per cent (2%) of
its gross receipts; and,
WHEREAS, ttie improvements proposed will enta.il the expenditure
of considerable cash and monies which it would be impossible to amortize
over a shorter period of time, and ihe Council is of the opinion that a
lease for a term of five (5) years, with an option to renew for five (5)
years, is to the advantage of the City of Paris, and will facilita.te in
furnishing to the users of Record Park adequate and necessary facilities
for recreation and entertainment; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PARIS, That the Mayor, William C. Ragan, be, and he is hereby
authorized to enter into a lease contract and which lease is to incor-
porate substantially the proposal as submitted to the Council.
Passed and adopted this 13th day of June, A. D., 196U. ~
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ayor
ATTEST: ~
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A cting City Clerk
APP OVED AS TO FORM:
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City Attorney