603 RES R B STOVALL DEPOSITED WITH COP $5,000

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p 0 RESOLUTION N0. 603_• WHEREAS, R. B. Stovallo owner and developer of Parham Park dlddition No. 1 to the City of Paris, has deposited with the Gity of Paris the sum of Five Thousand Dollars ($5,000.00) cash to cover the estimated cost o:E ex- tending municipal water lines to the perimeter of said Addition;and, WHEREAS, such deposit was by the City of Paris accepted under con- tract and agreement made and entered into by and between The City of Paris, acting through its City Manager, A. K. Steinheimer, and the said R. 13. Stovall, dated October 4, 1955l by the terms and provisions of which con- tract the City of Paris obligated itself to apply to such extension and deposit for the costs thereof its refund policy and agrcement, and in which contract the City of Paris specifically agrees to refund and pay to the said R. B. Stovall at his request the sum of Two Hundred Fifty Dollars ($250.00) for each residence which he builds and completes within said Parham Park Addition No. 1 and which is connected with the municipal water system of the City of Paris; and, WHEREAS, such contract specifies that such refund payraent shall be made on the lst day of November, 1962 and annually thereafter for the houses completed within such respective years, and that in no event shall the aggregate of such refunds exceed Five Thousand Dollars ($5,000.00) nor shall any refund be made after the year ending October 30, 1962; and, WHEREAS, the said R. B. Stovall has requested the confirmation and approval of such contract and agreement by the City Council: NOW, THEREFORE, BE IT RHSOLVED BY THE CITY COUNCIL OF TI-lE CITY OF PARIS, That said above mentioned wiittsn contract and agreement dated October 49 1955 be, and the sawe is hereby, approved and confirmed by the City Council and the stipulated refunds to be made in accordance with the i.erms and provisions thereof are in all things approved and the City Manager of the City ~of Paris is hereby authorized and directed to make such refunds in accordance with the terms and provisions of such contract. Passed and adopted by the City Council of the City of Paris :in special session convened on this 31st day of October, 1955. Mayor ATTEST : 1'y1~ ,4--~-2 City Clerk. ApPRUVED d6S TO FORMs City Attorney.