HomeMy WebLinkAbout1979-088-09/18/1979-AUTHORIZING THE CITY TO EXERCISE AN OPTION ON BEHALF OF THE FORT COLLINS-LOVELAND MUNICIPAL AIRPORT RESOLUTION 79-88
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUThORIZING THE CITY OF THE FORT COLLINS f0 EXERCISE
AN OPTION ON BEHALF OF THE FORT COLLINS-LOVELAND
MUNICIPAL AIRPORT TO PURCHASE 20 T-HANGERS
LOCATED AT THE FORT COLLINS-LOVELAND MUNICIPAL AIRPORT
WHEREAS, by agreement dated August 31, 1978, the City of Fort Collins
and the Cit} of Loveland, Colorado, did enter into an agreement with Max R
Hoffman and Katheryn E Hoffman under the terms of which the City acquired
an option to purchase 20 T-Hangers located at the Fort Collins-Loveland
Municipal Airport, and
WHEREAS, the Council of the City of Fort Collins and the Council
of the City of Loveland, Colorado, have determined that it is in the best
interest of the City of Fort Collins and the City of Loveland that said
option be exercised imrrediately, and
WHEREAS, in order to exercise said option, both the City of Fort
Collins and the City of Loveland shall each be required to pay the sum of
Sixty-Six Thousand Two Hundred Fifty Dollars ($66,250 00) , and
WHEREAS, to the considered opinion of the Council of the City of
Fort Collins and the Council of the City of Loveland, it is estimated that,
given proper long term financing, airport revenues will be sufficient to
retire the costs associated with the exercise of the opiion
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT COLLINS AS FOLLOWS
Section 1 That the City Manager be, and he hereby is, authori7eo
and directed to exercise on behalf of the City of Fort Collins and the Fort
Collins-Loveland Municipal Airport that certain option for the purchase of
20 T-Hangers located at the Fort Collins-Loveland Municipal Airport, said
optioi being contained in an agreement dateu August 31, 1978
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Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 18th day of September 14
Mayor
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Cit; Clerk