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ORDINANCE NO.
AN ORDINANCE AUTHORIZING A LEASE AND AGREEMENT
BY AND BE'T'WEEN THE CITY OF BATESVILLE, ARKANSAS AS
LESSOR AND EMERSON ELECTRIC CO., A MISSOURI CORP-
ORATION, AS LESSEE, IN SUBSTANTIALLY THE FORM AND
WITH SUBSTANTIALLY THE CONTENTS SET FORTH IN AND
MADE A PART OF THIS ORDINANCE; AUTHORIZING THE EXE-
CUTION AND DELIVERY OF SAID LEASE AND AGREEMENT;
PRESCRIBING OTHER MATTERS RELATING THERETO; AND
DECLARING AN EMERGENCY.
BE IT ORDAINED by the City Council of the City of Batesville,
Section 1 . That there be, and there is hereby authorized the
execution and delivery of a Lease and Agreement wherein the City of Batesville,
Arkansas (called "City") is Lessor and Emerson Electric Co., a Missouri
corporation (called "Emerson") is Lessee, in substantially the form and with
substantially the contents hereafter set forth, and the Mayor and City Clerk
be, and they are hereby, authorized to execute, acknowledge and deliver said
Lease and Agreement for and on behalf of the City. The form and contents of
said Lease and Agreement, which are hereby approved and which are made a
part hereof, shall be substantially as follows:
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Section 2. That the Mayor and City Clerk be, and they are
hereby, authorized and directed, for and on behalf of the City, to do all things,
execute all instruments and otherwise take all action necessary to the reali-
zation of the City's rights and to the discharge of the City's obligations as
Lessor under said Lease and Agreement.
Section 3. That the provisions of this Ordinance are hereby declared
to be separable, and if any section, phrase or provision shall, for any reason,
be declared to be invalid, such declaration shall not affect the validity of
the rema inder of the s ections , phra s es or provis ions .
Section 4. That all ordinances and parts thereof in conflict
herewith are hereby repealed to the extent of such conflict.
Section 5. That there is hereby found and declared to be an
immediate need for the securing and developing of industry within the City
in order to provide additional employment and increased payrolls, alleviate
unemployment and provide other benefits incidental to the operation of a
substantial industry, and the execution and delivery of the Lease and Agree-
ment authorized by this Ordinance are necessary for the accomplishment of
these public benefits and purposes. It is, therefore, declared that an
emergency exists, and this Ordinance, being necessary for the immediate
preservation of the public health, safety and welfare, shall be in force and
take effect immediately upon and after its passage.
PASSED: c l !�Z �� / �- 1968'.
APPROVED:
Mayor
ATTEST:
City C lark
(S EAL)
CERTIFICATE
The undersigned, City Clerk of Batesville, Arkansas, hereby
certifies that the foregoing pages are a true and perfect copy of Ordinance No.
U passed ata session of the City Council of Bates-
ville, Arkansas, held at the regular meeting place of the City Council at
�. o'clock C� .m., and that said ordinance is of record in Ordinance
Record Book , „�J Page now in my possession.
GIVEN under my hand and seal this day of ? ,
I •.i
City Clerk
(S EAL)