HomeMy WebLinkAboutORD 3043••
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cil ofttJle City of PaloAlt~;
· ~. , -'!'bat . c~~tal n .. ameru:ut\f~Ut
:fie~--~: ~KI th~:Cfty ClJE.;....-.ICL.L'LI' A~~~i;~~~/ ................
is .oi file in . . . We c
approved and :the Mayor . is hereby auttroi-i~ed-rand
to execut~ said Amendment to Lease, on behalf of
the City Cl~rk i~t b~reby authorized. and dt:r~cted
signature and to .2'"ffix the corporate seal of the· ..... ,. ' •' . '.• ,•
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. SECTION 2. Upon. the effect,i y;oe date of, this Ordina,nce, the
Mayor1s hereby authorized and .• directed to e~ecute counterparts
of sa.id Lease as amended uy said Amendmerrt> -t;:o Le~se; on behalf o:f.
the City, and the City C;t.erk 'is-hereby authorized-and d:ireq-ted
to attest his signature and to affix.the qorporatesect,l of the
City' thereto. · ·· .j/ ·· · , . ·
SECTICN 3.
Palo Alto Timesr
the City, within
Section 54242 of
This Ordinance shall :be .pllbli$he~. once .j,n the
a newspaper of. general cit'culatiori 'pnblishP.d in ._,
fifteen (15) days after its ~~_.aqe, pursuant to·
the GOvernfuen t· COde. ·
SECTION 4. The Council of the ~'Cfty of
· .·is not the enactment of
c·f that. term
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ATTEST:
APPROVBD As te radt ' . .
APPROVED:
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037~25a "JML:KIJ:ar, 01/19/78 _:~~
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AMmlDKER'1' TO
LFASB OF GOLP COUUB PACILI'l'Y
CITY-OF PALO ALTO GOLF COURSE CORPORATION
AND
~!~/ OF PALO ALTO
trHIS A~.ENOMENT TO !..EAsE r made and entered into as of
February 6, 1978, by and between the Ctty .. of P~lo Alto Golf Course
Corpor(!tion, a private, r:onprofit corpor'ation (n~rein called 'the
"Cor.poration") ·d,_lly o!:ganiz~d and existing un\1er and by virtue.~)!
the laws of the State of California, and the City of ~alo Alto, a
chacter city of the S~~i~ of Cali~o~nia 1 duly organized and existing
'undet anq by virtue of the const i tut. ion,, its char: t'er, and laws of · · ·
the StatG of California (herein called the "Ci'cy" j: ' ,_,
'r·,;~!~~~i't cb>
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W ! T H E S S E T H:
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'' ·~be corporation bereby leases to the City
and the City hereby hlres froaa ~be co~,poration,
OD tbe teras a.-Kl CODdltioas hereinafter set
fortb, thtl Golf ~s· Pacili~Y:• including the
Sib and tbe -Prolect to ··be constru.eted and
lOcated thereon'"
" (f) Delinquent dates for payment of Base Re~t under
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Sectio"· 6 (a} are amended from •July 21" and "J,·:muary 21" to ~·
nAugust 21" and ~Feb~uary 18~, respectively, and the amqqnts of fh6
Base Rent p<'lymen.t..:) are amended to conform te changes in fh~
,;.
principal aruount of Bonds, if any.
(g) "December 1" is amended to read 11 September 1 11 in
Se::tion 6(a).
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(h) · Sectioh ~·{b) is an1endcd .to read:
. . n (o) Adjustment. The Base Ren.t herein .
provid~d is computed on the basis of providing
su:fficient funds to th~ Corporation for the
payaent of the principal o.t and interest on the
Bonds at the tim~-s and in the mann~r pr.ovided in
.the Resolution. For such purposes, ,it has been
assume<l that the. Bo:.d.; will bear interest. at the
.-xiluJIJ. ratf: of eight pe'rcent · (S%) ~er annuril •
. <· ... .""·;· -..~ ale 'actual rate the ,E.;>nds are to briar is
1 ,, ascertain~ • the scle thereQf, ·the Ba·i:le Rent.
.,. shall be reeo.puted and adjusted in accordance
'f .If~' ~i\{i therewith Base . · subject to
. .. .~,. further .. . in ··
. " ·. of t . . amo~nt as ~~ ---ll~~.t~ . . ~;_,~· .. , b!n!a~.e .by
·· . of -Jf .. ·
·•··~··· ·· u1e. ~~. IR~[;i:.":~
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n~r · .~ri.9~nal,
Ame~nt
the Lea&+)
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executed by tb~ Co:poration and tbe City, all with tbe Balle fo~~
and eff_ect aa th,ough tbtt execution of the a~~ended f!olmterpart »,,f'l ·
been s=L•ultanecA{Jslv authorized.__ botb the Corporation and the.e~t.y. / . .-~-.I vz ' j
IR WI'l'iffiSS WB~!', t!:~ ~p&~ ... ··~ the. City ~an ......
this Amendllent to Lease to be tlzeeute4 by tneir respecti~e· off'lcer·s
thereunto duly authorized, ali. as !,of the ~;_,y aoo year firet 'above
wr_itten.
Attest:
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CITY OF PALO ALTO GOLF COURSE
CORPORA1iiQN, a nonprofit corp...'"1ration
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By . ~/! . &'; ?C:;/~~---.-·-·Pres'ident .. --~-...... __..
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C!TY OP PALO ALTO, a charter city
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··By . ·~'~Ma'Yo;"~·
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