An ordinance approving a lease of space by and between the Metropolitan Board of Fair Commissioners and Lamar TN, LLC, for the purpose of outdoor billboard advertising (Proposal No. 2006M-052U-11).

WHEREAS, the Metropolitan Board of Fair Commissioners and Lamar TN, LLC, ("Lamar Advertising") have negotiated a lease for billboard space on the property commonly known as the Tennessee State Fairgrounds (hereinafter "Fairgrounds"); and,

WHEREAS, the lease provides that Lamar Advertising will supply, erect, and maintain double faced billboard advertisements at six locations on the Fairground premises in a manner that will not interfere with the operation of the Fairground or the annual Tennessee State Fair; and,

WHEREAS, the lease provides for a term of five (5) years and for rent at the rate of $119.80 per billboard structure, per month, which lease is attached hereto as Exhibit A and incorporated herein by reference; and,

WHEREAS, a lease of the Fairgrounds for non-amusement purposes requires the approval of Council under Section 2.24.211 of the Metropolitan Code; and,

WHEREAS, the lease has been approved by the Metropolitan Planning Commission; and

WHEREAS, the lease agreement between the Metropolitan Board of Fair Commissioners and Lamar Advertising is in the public interest.

NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1: That the Lease of the premises located on the Tennessee State Fairgrounds, by and between the Metropolitan Board of Fair Commissioners and Lamar Advertising, for a term of five (5) years and for rent at the rate of $119.80 per billboard structure, per month, which lease is attached hereto and incorporated herein by reference, is hereby approved.

Section 2: That the Director of the Metropolitan Board of Fair Commissioners and the Director of Public Property Administration are authorized to execute such documents as may be necessary and appropriate to carry out the lease authorized by this ordinance.

Section 3: That the lease approved herein may be amended subject to approval by resolution receiving 21 votes.

Section 3: This ordinance shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Sam Coleman , Rip Ryman, Ronnie Greer

Attachment(s) on file in the Metropolitan Clerk's Office

LEGISLATIVE HISTORY
Introduced:	February 6, 2007
Passed First Reading:	February 6, 2007
Referred to:	Planning Commission - Approved Budget & Finance Committee Codes Committee Planning & Zoning Committee
Passed Second Reading:	February 20, 2007
Passed Third Reading:	March 20, 2007
Approved:	March 21, 2007
By: