CITY COUNCIL PROCEEDINGS OF THE CITY OF SHREVEPORT, LOUISIANA

NOVEMBER 24, 1998

The special meeting of the City Council of the City of Shreveport, State of Louisiana, was called to order by Chairman James Green, at 4:00 p.m., Tuesday, November 24, 1998, in the Council Chamber of City Hall, 1234 Texas Avenue. Invocation was given by Councilman Spigener.

On roll call, the following members were present: Councilmen Cooper, Stewart, Hightower, Serio, Spigener, Green and Burrell. 7. Absent: None.

The meeting was called pursuant to the following Public Notice:

"PUBLIC NOTICE

PUBLIC NOTICE IS HEREBY GIVEN that the Shreveport City Council will meet in special session on Monday, November 23, 1998, at 4:00 p.m*. in the Council Chambers of City Hall.

The purpose of the meeting is to consider:

1. Ordinance No. 217 of 1998: Authorizing the Mayor to execute ground lease and related agreements with QNOV.

No other business will be transacted.

James Edward Green,

Chairman

* Or immediately after the Administrative Conference.

November 20, 1998"

The Deputy Clerk read the ordinance by title:

1. Ordinance No. 217 of 1998: An ordinance authorizing the Mayor to execute a ground lease and related agreements with QNOV and otherwise providing with respect thereto.

Having passed first reading on October 27,1998, was read by title and as read on motion ordered passed to third reading. Read the third time in full and as read motion by Councilman Stewart, seconded by Councilman Burrell to postpone the ordinance until the November 24, 1998 meeting. Motion approved by the following vote: Ayes: Councilmen Cooper, Stewart, Hightower, Serio, Spigener, Green and Burrell. 7. Nays: None.

The adopted Ordinance follows:

ORDINANCE NO. 217 OF 1998

AN ORDINANCE AUTHORIZING THE MAYOR TO EXECUTE A GROUND LEASE AND RELATED AGREEMENTS WITH QNOV AND OTHERWISE PROVIDING WITH RESPECT THERETO

WHEREAS, Louisiana R.S. 33:4712 authorizes a municipality to lease property to a private person when such property is, in the opinion of the governing authority, not needed for public purposes; and

WHEREAS, QNOV desires to lease certain property of the City of Shreveport located in the riverfront area for a riverboat casino operation, hotel, and related facilities; and

WHEREAS, this project will advance the development of the riverfront and downtown areas and will enhance the City's reputation and growth as a tourist destination;

WHEREAS, the utility of the property subject to this lease will be heightened by this project; and

WHEREAS, said property is not currently needed for public purposes.

NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Shreveport in due, legal and regular session convened that the Mayor is hereby authorized to execute the Ground Lease to QNOV, substantially in accordance with but, in any event, with terms no less favorable to the City than those contained in the draft thereof filed with the original copy of this ordinance in the Office of the Clerk of Council on October 27, 1998.

BE IT FURTHER ORDAINED that notice of this proposed ordinance shall be published three times in at least fifteen (15) days, one week apart, in the Official Journal of the City of Shreveport, together with notice that the City Council proposes to take final action on this proposed ordinance at its regularly scheduled meeting on Tuesday, November 24, 1998 at 3:00 p.m. or a special meeting of the City Council called for that purpose.

BE IT FURTHER ORDAINED that if any provision or item of this ordinance or the application thereof is held invalid, such invalidity shall not affect other provisions, items or applications of this resolution which can be given effect without the invalid provisions, items or applications and to this end the provisions of this ordinance are hereby declared severable.

BE IT FURTHER ORDAINED that all ordinances or parts thereof in conflict herewith are hereby repealed.

/s/James Edward Green, Chairman

/s/Arthur G. Thompson, Clerk of Council

There being no further business to come before the Council, the special meeting adjourned at 4:30 p.m.

/s/James Edward Green, Chairman

/s/Arthur G. Thompson, Clerk of Council