Opinion No.

Mr. Louis Schaufele, Chairman War Memorial Stadium Commission P.O. Box 250222 Little Rock, AR 72225

Dear Mr. Schaufele:

This is in response to your request for an opinion on the following questions concerning a particular lease agreement between the War Memorial Stadium Commission ("Commission") as lessor, and Regions Bank ("Bank") as lessee, involving the scoreboards located in the War Memorial Stadium:1

1. Did the lease expire on June 30, 1997?

2. Has the Bank by its actions in November 1998 renewed the lease for an additional ten years?

3. Does the Stadium now have legal title to the…