Res 1111 9/1/1970RESOLUTION NO. /1//
WHEREAS, on July 7, 1969, a certain contract was
entered into between the City of Wichita Falls, M. 0. Rife,
Jr. and Strawn Drilling Company concerning the operation of
the Halsell oil and gas lease in the Lake Arrowhead Basin,
which contract is recorded in Volume 256, page 280, of the
Deed Records of Clay County, Texas; and
WHEREAS, the City of Wichita Falls has entered into
two (2) contracts dated January 10, 1968, and June 2, 1970,
concerning the sale by City to M. O. Rife, Jr. and Strawn
Drilling Company of raw water from Lake Arrowhead to be used
for water flooding the oil production on the Halsell Lease and
the Furd Halsell Lease; and
WHEREAS, North Central Oil Corporation has informed
the City that it has purchased Rife' s 75% interest in the Halsell
Lease and the Furd Halsell Lease; in addition, North Central Oil
Corporation has furnished the City a copy of the assignment of
such oil and gas lease, which assignment purports to cover these
contracts also, and the assignment recites that the assignee
assumes and agrees to perform all obligations imposed upon Rife
by the contracts.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN
OF THE CITY OF WICHITA FALLS, TEXAS, THAT:
The City of Wichita Falls does hereby agree to the
assignment by Rife to North Central Oil Corporation of all Rife' s
interest in the above described contracts; North Central Oil
Corporation shall enjoy the same rights and privileges that Rife
had under such contracts, and shall assume and be bound to per-
form all obligations imposed upon Rife by such contracts.
PASSED AND APPROVED THIS the 1st day of September,
1970.
MAYOR
ATTEST:
iiL.t_ilia .'
CITY CLERK