HomeMy WebLinkAboutRES NO 64-74RESOLUTION NO. 64-74
RESOLUTION OF THE CITY OF BAKERSFIELD
RATIFYING BASE RENTAL FOR THAT CERTAIN
LEASE AGREE~~~NT DATED AS OF AUGUST 1,
1974 FOR THE "K" STREET PARKING GARAGE
WHEREAS, by Ordinance No. 2197 adopted on July
8, 1974, the City approved that certain Lease ~greement
dated as of August 1, 1974 by and between the Redevelop-
ment Agency of the City of Bakersfield and the City
relating to the K Street Parking Garage, provided that
the rate of annual base rental to be paid by the City to
the Agency pursuant to Section 4(b)'of said Lease Agree-
ment should be determined by the' Mayor following the
award by the Agency of its Parking Lease Revenue Bonds.
and provided further that the rate of said annual base
rental should not exceed $225,000 on the fair rental
value of the facility, whichever is less, and
WHEREAS, the Agency has accepted the bid of
Bank of America NT & SA for its Parking Lease
Revenue Bonds, and
WHEREAS, the Mayor and the Chairman and Sec-.
retary of the Agency acting pursuant to Resolution No. 14-74
adopted June 28, 1974, have agreed to a Base Rental figure
of $ 225,000.00 .
NOW, THEREFORE, the Council of the City of
Bakersfield does hereby RESOLVE, DETERMINE AND ORDER as
follows:
Section 1. The Council hereby ratifies and
approves the rate of $135,525.00 as. the rate of annual
Base Rental to be paid by the City to the Agency pursuant
to Section 4(b)0f said Lease Agreement.
Section 2. The Mayor is authorized and directed
to execute said Lease Agreement and the City Clerk is
authorized and directed to attest thereto and affix the
official seal of the City thereto and to cause said Lease
Agreement, following execution by the Agency to be recorded
with the County Recorder of Kern County.
ADOPTED, SIGNED AND APPROVED this 12th day of
August , 1974. .:-
Ayes: Councilmen Barton, Bl?g6~ r, Heisey .
Noes: None '
Absent: Councilmen sfield
Rogers, Thomas
Abstaining: None
ATTEST:
City Ce~k ~ ~ y of
Bakersfield
(SEAL)
APPROVED as to form:
CITY ATTORNEY of thee City of Bakersfield