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HomeMy WebLinkAbout09455RESOLUTION NO. 9455 A RESOLUTION APPROVING AMENDMENT 1 TO A RENTAL CAR LEASE AND OPERATING AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION, AND THE HERTZ CORPORATION, AND AUTHORIZING THE PRESIDENT OF CITY COUNCIL TO EXECUTE SAME WHEREAS, the City of Pueblo entered a Rental Car Lease and Operating Agreement with The Hertz Corporation on December 27, 1999; and WHEREAS, both parties wish to amend the Lease; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. A certain Amendment 1 to the Rental Car Lease and Operating Agreement, a copy of which is attached hereto and made a part hereof by reference, after having been approved as to form by the City Attorney, by and between the City of Pueblo, a Municipal Corporation, and The Hertz Corporation relating to rental car operations at the Pueblo Memorial Airport is hereby approved, subject to the conditions as set forth in said Amendment. SECTION 2. The President of City Council is hereby authorized to execute said Lease and Operating Agreement on behalf of Pueblo, a Municipal Corporation, and the City Clerk shall affix the Seal of the City thereto and attest the same. INTRODUCED: December 26 2001 BY Rich Gale PERSON 0... OF CITY COUNCIL ATTESTED BY: 4 Y CLERK ]� D jqw Background Paper for Proposed RESOLUTION DATE: December 17, 2001 DEPARTMENT: AVIATION -JOHN ONEAL TITLE AGENDA ITEM # 3 I$o�3 A RESOLUTION APPROVING AMENDMENT 1 TO A RENTAL CAR LEASE AND OPERATING AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION, AND THE HERTZ CORPORATION, AND AUTHORIZING THE PRESIDENT OF CITY COUNCIL TO EXECUTE SAME ISSUE Should City Council approve an Amendment to the Rental Car Lease and Operating Agreement between the City of Pueblo and The Hertz Corporation to extend the current lease agreement for one year? RECOMMENDATION Approval of this Resolution. BACKGROUND On December 27, 1999, the City entered a Lease and Operating Agreement with The Hertz Corporation for rental car services at the Pueblo Memorial Airport. This lease was for a one year period with an option for one additional year that is due to expire December 31, 2001. After the events of September ll the rental car business has suffered at airports. Due to this fact, Hertz has requested that their lease be extended for a one -year period. FINANCIAL IMPACT The Hertz Corporation will continue to pay 10% of their gross receipts per month, plus $250.87 a month for 80 square feet of counter space, and $10 a month for ten (10) parking spaces. PUEBLO MEMORIAL AIRPORT RENTAL CAR LEASE AND OPERATING AGREEMENT AMENDMENT 1 THIS AMENDMENT entered into as of this 26th day of December 7 2001 between the City of Pueblo, a Municipal Corporation (the "Lessor ") and The Hertz Corporation (the "Lessee "), WITNESSETH: WHEREAS, a Rental Car Lease and Operating Agreement between the Lessor and Lessee was entered into on December 27, 1999; and WHEREAS, the Lease is due to terminate December 31, 2001 and both Lessor and Lessee wish to extend the lease term for an additional year; NOW, THEREFORE, in consideration of the mutual covenants contained herein, Lessor and Lessee agree as follows: The Lease and Operating Agreement is hereby extended for a one year period beginning January 1, 2002 and terminating December 31, 2002 under the same terms and conditions, including the rental rate. 2. The Agreement as modified and amended by the Amendment to the Lease and Operating Agreement shall remain in full force and effect. Signed in Pueblo, Colorado, the day and year first written above. [SEAL] ATTEST: LESSOR: PUEB , A IPAL CORPORATION 1 By City k Presid t it Council APPROVED AS TO FORM: City Attorney THE ITR�TZT4.ORPORATION \1 0 LM Simon Ellis, Vice President, Properties and Concessions