HomeMy WebLinkAbout1981-01-20; Parking Authority; Resolution 22RESOLUTION NO. 22
RESOLUTION OF THE PARKING AUTHORITY OF
THE CITY OF CARLSBAD, CALIFORNIA
RELATING TO A CERTAIN LEASE AGREEMENT
BETWEEN THE CITY AND THE AUTHORITY
WHEREAS, the Authority's act of entering into that
certain lease (tbe "Lease") was approved by the City of
Carlsbad on January 6, 1981, effective February 6, 1981, and by
the Authority on December 19, 1960 by its Ordinance No. 1; and
WHEREAS, the Lease provides at Section 3 that its term
shall commence on April 1, 1981 or such earlier date as the
parking facilities are conveyed to the Authority; and
WHEREAS, the parties mistakenly assumed the facilities
would not be conveyed to the Authority until the Authority's
1981 Parking Revenue Bonds were sold, and the true intention of
the parties to the Lease is and was that such Lease payments
should not be made and rental should not begin to accrue until
such date on which the Authority's bonds have been sold and
delivered.
NOW, THEREFORE, BE IT RESOLVED by the Parking
Authority of the City of Carlsbad, California, as follows:
1. The Authority forgives the obligation of the City
expressed in Section 3 of the Lease, approved as to form by
Ordinance No. 1 of the Parking Authority, to pay rent prior to
the date on which the Authority's 1981 Parking Revenue Bonds
are sold and delivered, to the extent such obligation would
otherwise exist under the Lease. The rental term shall be
deemed to commence, in accordance with the true intention of
the parties, on the date that said bonds are sold and
delivered. No other terms of the Lease are affected by this
Resolution, and in no event shall this affect the City's
obligation to pay rent in the future.
PASSED, APPROVED AND ADOPTED at a special meeting of
the Carlsbad Parking Authority held on the 20th day
of January , 1981, by the following vote, to wit:
AYES: Directors Richardson, McComas, Goodwin, Chase and Dunne
NOES: None
ABSENT: None
ATTEST:
cTtyClJrk
(SEAL)
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