HomeMy WebLinkAbout6369RESOLUTION NO. 6369
A RESOLUTION APPROVING AN AGREEMENT BETWEEN
PUEBLO, A MUNICIPAL CORPORATION AND PUEBLO
DEVELOPMENT FOUNDATION RELATING TO THE
PURCHASE OF BUILDINGS AT PUEBLO MEMORIAL
AIRPORT AND AUTHORIZING THE TRANSFER OF FUNDS
FOR SUCH PURPOSE
WHEREAS, Halliburton Company is desirous of selling all its
leases, railroad trackage, buildings and equipment located at
Pueblo Memorial Airport (the "Buildings "), and
WHEREAS, Pueblo Development Foundation has submitted an offer
to purchase the Buildings for $300,000 which offer has been
accepted by Halliburton Company, and
WHEREAS, such purchase would enhance the City's opportunity
for industrial and economic development at the airport industrial
park and the creation of additional employment, and
WHEREAS, such purchase would be in the best interests of the
City and its inhabitants; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
eV0MTnM 1
The Agreement dated April 24, 1989 between Pueblo, a Munici-
pal Corporation and Pueblo Development Foundation relating to the
purchase of the Buildings at Pueblo Memorial Airport from
Halliburton Company is hereby approved. The President of the City
Council is authorized to execute and deliver the Agreement in the
name of and on behalf of the City and the City Clerk is directed
to affix the seal of the City thereto and attest same.
SECTION 2
An amount not to exceed $300,000 is hereby authorized to be
transferred from the Sales and Use Tax Capital Improvement Fund
for the specific purpose of purchasing said Buildings.
ATTEST:
INTRODUCED: April 24, 1989
B SAMUEL CORSENTINO
Councilman
APPROVED:
ALI ",44
Ci Clerk Pre ident of the City Council
TJ 35.26 -2-
AGREEMENT
THIS AGREEMENT entered into the 24th day of April, 1989 between
Pueblo, a Municipal Corporation (the "City ") and Pueblo Development
Foundation, a Colorado nonprofit corporation (the "Foundation "),
WITNESSETH:
In consideration of the mutual promises herein set forth City
and Foundation agree as follows:
1. Foundation will purchase from Halliburton Company all of
its leases, buildings, railroad trackage and personal property
located at the Pueblo Memorial Airport (the "Buildings ") for a
purchase price of $300,000.
2. City will make available and advance to Foundation out of
City's Sales and Use Tax Capital Improvement Fund an amount not to
exceed $300,000 to be used soley for the purchase of the Buildings.
3. Foundation shall insure and protect the Buildings and use
its good faith efforts to either sell or lease the Buildings at and
for a fair value to a person or company for the purpose of
conducting and operating an industrial business generally compatible
with other industrial businesses at the Pueblo Memorial Airport.
4. Foundation shall reimburse City out of the proceeds
recevied by Foundation from the sale or lease of the Buildings all
funds made available and advanced to Foundation by City hereunder.
5. Immediately upon closing of the purchase for its Buildings
by Foundation, Foundation and City shall terminate and cancel the
Amended Lease Agreement dated September 28, 1987 between the City
and Halliburton Company recorded October 28, 1987 in Book 2369 at
Page 874 of the Pueblo County records and the superseded Lease
Agreement dated March 12, 1979 between City and Halliburton Company
concerning land at Pueblo Memorial Airport. Any subsequent
transfer, sale or lease of the Buildings shall be made only after
the prior approval of the City.
6. This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors.
[S E A L]
ATTEST:
C" y Clerk
[S E A L]
PUEBLO, A MUNICIPAL CORPORATION
By
P sident of the City Council
PUEBLO DEVELOPMENT FOUNDATION
ATTES A/t B
Secretary Pre ident
TJ 35.27