HomeMy WebLinkAbout11226RESOLUTION NO. 11226
A RESOLUTION APPROVING AMENDMENT NO. 1 TO AN AGREEMENT BETWEEN THE
CITY OF PUEBLO, A MUNICIPAL CORPORATION, AND POWER SUPERCONDUCTOR
APPLICATIONS CORP., AND AUTHORIZING THE PRESIDENT OF CITY COUNCIL TO
EXECUTE SAME
WHEREAS, the City of Pueblo entered an Agreement with Power Superconductor
Applications Corp. on March 1, 2003; and
WHEREAS, both parties wish to amend the Agreement; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
A certain Amendment No. 1 to the 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 Power Superconductor
Applications Corp. relating to the loan of the Linear Induction Motor Research Vehicle (LIMRV)
from the Pueblo Weisbrod Aircraft Museum 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 Amendment No. 1 to
the 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 February 25, 2008
BY Judy Weaver
Councilperson
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ATTEST D BY
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Background Paper for Proposed
RESOLUTION
AGENDA ITEM # G�
DATE: February 25, 2008
DEPARTMENT: AVIATION - JERRY BRIENZA
TITLE
A RESOLUTION APPROVING AMENDMENT NO. I TO AN AGREEMENT
BETWEEN THE CITY OF PUEBLO, A MUNICIPAL CORPORATION, AND
POWER SUPERCONDUCTOR APPLICATIONS CORP., AND AUTHORIZING THE
PRESIDENT OF CITY COUNCIL TO EXECUTE SAME
ISSUE
Should City Council approve an Amendment to the Agreement between the City of
Pueblo and Power Superconductor Applications Corp. to extend the current agreement
for an additional year.
RECOMMENDATION
Approval of this Resolution.
BACKGROUND
On March 1, 2003, the City entered into an Agreement with Power Superconductor
Applications Corp. for the loan of the Linear Induction Motor Research Vehicle
(LIMRV) from the Pueblo Weisbrod Aircraft Museum. The Agreement was for a five -
year period ending March 1, 2008. Power Superconductor Applications Corp. has asked
for an additional year to finish the refurbishment of the LIMRV before returning it to the
Museum.
FINANCIAL IMPACT
None.
PUEBLO MEMORIAL AIRPORT
AGREEMENT
AMENDMENT NO. 1
THIS AMENDMENT entered into as of this 25th day of February , 2008
between the City of Pueblo, a Municipal Corporation ( "City ") and Power Superconductor
Applications Corp. ( "Company "), 930 Cass Street, New Castle, Pennsylvania, 16101 -5241,
WITNESSETH:
WHEREAS, an Agreement between the City and Company was entered into on March 1,
2003; and
WHEREAS, the term of the Agreement is due to expire on March 1, 2008 and both City
and Company wish to extend the lease term for an additional year;
NOW, THEREFORE, in-consideration-of-the mutual covenants contained herein, City ..
and Company agree as follows:
1. The term of the Agreement is hereby extended for a one -year period beginning March
1, 2008 and ending March 1, 2009 under the same terms and conditions.
2. The Agreement as modified and amended by this Amendment No. 1 shall remain in
full force and effect.
Signed in Pueblo, Colorado, the day and year first written above.
- [SEAL]
ATTEST:
_ _..... City d&k
APPROVED AS TO FORM:
City Attome
LESSOR:
Pueblo, a Municipal Corporation
By <`s
__ Barbara Vidmar, President of City Council
LESSEE:
Power Superconductor Applications Corp. -