HomeMy WebLinkAbout6700RESOLUTION NO. 6700
A RESOLUTION APPROVING AN ADDENDUM TO THE
JANUARY 8, 1990 AGREEMENT BETWEEN PUEBLO, A
MUNICIPAL CORPORATION AND PUEBLO DEVELOPMENT
FOUNDATION RELATING TO THE COMPLETION OF THE
INTERIOR OF A BUILDING LOCATED AT PUEBLO
MEMORIAL AIRPORT, AUTHORIZING THE PRESIDENT OF
THE CITY COUNCIL TO EXECUTE THE ADDENDUM, AND
AUTHORIZING THE TRANSFER OF FUNDS FROM THE
SALES AND USE TAX CAPITAL IMPROVEMENT FUND FOR
SUCH PURPOSE
WHEREAS, Pueblo, a Municipal Corporation and Pueblo
Development Foundation did enter into an Agreement dated January
8, 1990 for the construction of two shell buildings at Pueblo
Memorial Airport, and
WHEREAS, it would be in the best interest of the City and
will aid and assist in economic development and job creation if
the interior of one of the shell buildings were completed, and
WHEREAS, Pueblo Development Foundation has caused the
interior of one of the shell buildings to be completed for a
possible tenant or purchaser, and
WHEREAS, the completion of one shell building and the
execution of the attached Addendum will promote the public health,
safety, commerce, prosperity and general welfare of Pueblo and its
citizens; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECT ION 1.
The Addendum between Pueblo, a municipal corporation and
Pueblo Development Foundation dated March 25, 1991 relating to the
completion of the interior of a shell building at Pueblo Memorial
Airport, a copy of which is attached hereto, having been approved
as to form by the City Attorney, is hereby approved and the
President of the City Council is authorized to execute and deliver
the Addendum in the name of the City.
CR(' T'r() r\T 7
The sum of $332,000 is hereby authorized to be transferred
from the projects to be determined account No. 34- 1991 -1 1 3906 of the
Sales and Use Tax Capital Improvement Fund for the purpose of
paying for the completion of the interior of such shell building.
SECTION 3.
This Resolution shall become effective upon final passage.
INTRODUCED: March 25, 1991
ATTEST:
Ci y lerk
By H WHITL
Councilperson
APPROV D:
7
President of t e City ouncil
TJ 50.40 -2-
ADDENDUM
THIS ADDENDUM entered into this 25th day of March, 1991
between Pueblo, a Municipal Corporation (the "City ") and Pueblo
Development Foundation, a Colorado nonprofit corporation (the
"Foundation "), WITNESSETH:
WHEREAS, City and Foundation entered into an Agreement dated
January 8, 1990 relating to the construction of two shell
buildings at Pueblo Memorial Airport (the "Agreement "), and
WHEREAS, Foundation and City desire that the interior of one
of the shell buildings be completed, and
WHEREAS, Foundation through competitive bidding has completed
the interior of one of the shell buildings, and
WHEREAS, City is willing to advance the funds for the purpose
of paying the cost of completing the interior of the shell
building.
NOW, THEREFORE, in consideration of the foregoing and mutual
promises, City and Foundation agree as follows:
1. Paragraph 2 of the Agreement is hereby amended by the
addition of the following to be inserted after the first sentence
in said paragraph 2:
City will make available and advance to Foundation an
amount not to exceed Three Hundred Thirty -Two Thousand and
No /100 Dollars ($332,000.00) from the City's Sales and Use
Tax Capital Improvement Fund to be used solely for the
completion of the interior of the 25,000 square foot shell
building. Notwithstanding the foregoing, the total amount to
be advanced by City to Foundation under this Agreement shall
not exceed in the aggregate the sum of One Million One
Hundred Sixty -Two Thousand and No /100 Dollars
($1,162,000.00).
2. The interior of the shell building will be completed in
compliance with all applicable codes, laws and regulations.
3. Funds will be advanced by City and reimbursed to City by
Foundation in the same manner and upon the same terms and condi-
tions as set forth in the Agreement with respect to the funds used
to construct the shell buildings. In addition, Foundation will
pay to City as part of its reimbursement obligation, all monies
received from Kaiser Aerospace and Electronics Company with
respect to the proposed lease of the completed shell building.
4. The Agreement as amended by paragraph 1 hereof_ shall
remain in full force and effect.
Executed the day and year first above written.
[SEAL] PUEBLO, MUNICIPAL CORPORATION
ATTEST: I;AZ4A� By ;;L � „� �
rt(� - C - f P rLs the
C city
_j-dent of he incil
[SEAL] PUEBLO DEVELOPMENT FOUNDATION
ATTE B
Secretary President
APPROVED AS TO FORM:
ZEL
City Attorney Z '
TJ 50.41 -2-