HomeMy WebLinkAbout1989-225-12/19/1989-AUTHORIZING THE MAYOR TO ENTER INTO A LEASE AGREEMENT WITH THE CITY OF LOVELAND AND THE FORT COLLINS RESOLUTION 89-225
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE MAYOR TO ENTER INTO A LEASE
AGREEMENT WITH THE CITY OF LOVELAND AND THE
FORT COLLINS-LOVELAND AIRPORT AUTHORITY
WHEREAS, the Cities of Fort Collins and Loveland have acquired certain
property in Larimer County for airport purposes; and
WHEREAS , such property has been designated as the Fort
Collins-Loveland Airport; and
WHEREAS, the Cities of Fort Collins and Loveland created the Fort
Collins-Loveland Airport Authority (Airport Authority) ; and
WHEREAS, the Fort Collins-Loveland Airport has been leased to the
Airport Authority since December 20, 1983; and
WHEREAS, it is the desire of the City Council to continue to lease the
airport property to the Airport Authority through the calendar year, 1990,
under certain terms and conditions; and
WHEREAS, it is the Council 's understanding that the City of Loveland
also wishes to lease the property under these said terms and conditions;
and
WHEREAS, due to the short term nature of this lease, the City will
require notice and prior approval of any alterations or improvements
proposed to the property as well as any granting of lease or other property
rights by the Authority to third parties.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1 . The Mayor is authorized to enter into a Lease between the
Cities of Fort Collins and Loveland and the Fort Collins-Loveland Airport
Authority ("Airport Authority") , leasing unto the Airport Authority for a
period of one (1) year, the property known as the Fort Collins-Loveland
Airport.
Section 2. The terms of such Lease to the Airport Authority shall
provide that the Airport Authority shall have possession of the property
from January 1 , 1990, to December 31, 1990, upon the following primary
conditions:
A. The lease shall recite as rent for the property the
total sum of Three Hundred Twenty-six Thousand One
Hundred Fifty-five Dollars ($326,155.00) in semi -annual
installments of One Hundred Sixty-three Thousand
Seventy-seven Dollars (E163,077.00) , payable on June 1
and December 1 of 1990.
B. The Lease shall be subject to termination upon thirty
(30) days written notice by the Cities or the Authority.
Section 3. In event that the Airport Authority is unable to execute
the Lease on or before January 15, 1990, the City of Fort Collins, in
cooperation with the City of Loveland, shall assert its right to begin
directly receiving its portion of all revenues from the operations
occurring on the Fort Collins-Loveland Airport property.
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 19th day of December, A.D. 1989.
Mayor
AT
City Clerk