Loading...
HomeMy WebLinkAbout11498RESOLUTION NO. 11498 A RESOLUTION APPROVING AMENDMENT NO. 1 TO THE MAY 22, 2006 AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND DOSS AVIATION, INC. RELATING TO A JOB CREATING CAPITAL IMPROVEMENT PROJECT AND THE EMPLOYMENT COMMITMENT DATE AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 Amendment No. 1 to the May 22, 2006 Agreement between the City of Pueblo and Doss Aviation, Inc., a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved. The President of the City Council is authorized to execute Amendment No. 1 in the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest same. RFr.T1nIV 9 This Resolution shall become effective upon final approval and passage. INTRODUCED: December 22. 2008 BY: Randy Thurston Councilperson PRt A :s r) a { C E D O ED A e Background Paper for Proposed RESOLUTION AGENDA ITEM # 23 DATE: December 22, 2008 DEPARTMENT: Law Department 1111111111144 A RESOLUTION APPROVING AMENDMENT NO. 1 TO THE MAY 22, 2006 AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND DOSS AVIATION, INC. RELATING TO A JOB CREATING CAPITAL IMPROVEMENT PROJECT AND THE EMPLOYMENT COMMITMENT DATE AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME ISSUE Should City Council approve Amendment No. 1? RECOMMENDATION PEDCO recommends approval. BACKGROUND The employment commitment date set forth in the May 22, 2006 agreement between the City and Doss Aviation, Inc. ( "Company ") will be extended one year to April 1, 2009, which will postpone the start of Company's employment commitment of 121 full -time employees and its 7 -year repayment period for one year. FINANCIAL IMPACT See Background. AMENDMENT NO. 1 THIS AMENDMENT NO. 1 ( "Amendment') is executed as of December 22, 2008, by and between Pueblo, a Municipal Corporation ( "City ") and Doss aviation, Inc., a Texas corporation ( "Company "), WITNESSETH: WHEREAS, City and Company entered into an Agreement dated May 22, 2006 relating to a job creating capital improvement project ( "Agreement'), and WHEREAS, Company has requested City to extend the Employment Commitment Date as defined in the Agreement. NOW, THEREFORE, in consideration of the foregoing and mutual covenants contained herein, City and Company agree as follows: 1. The Employment Commitment Date as defined in paragraph 1 of the Agreement is modified and amended to read as follows: "Employment Commitment Date" means April 1, 2009. 2. The Agreement as modified in paragraph 1 hereof shall remain in full force and effect, inuring to the benefit of and binding upon City and Company and their successors and approved assigns. Executed at Pueblo, Colorado, the day and year first above written. DOSS AVIATION, INC. By Name: krAst.. S 5o..k , T. Title: a-ea.ICC6 PUEBLO, A MUNICIPAL CORPORATION B President of the City Council Attest: City O#k Attest: By Name: Dav ;a/ h. Att Approved as to form: City Attorney� Title: V. Pes / GUx--�>