The Monett City Council has renewed a lease agreement with Golden Aviation for the airplane hangar built on the east-west taxiway at the Monett Municipal Airport.
Terms of the lease call for annual rent of $600. The lease covers a five-year period and can be renewed for an additional five years. Golden Aviation is obligated to maintain property liability insurance of at least $500,000 and at least $1 million insurance for personal injury or death.
Either party can terminate the agreement after giving notice of 30 days.
David and Marlene Gouldsmith signed the contract for Golden Aviation. According to City Administrator Dennis Pyle, all past-due money on the lease has been paid.