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120 0 <br /> March 14,1991 <br /> COUNCIL Btu 9102-9 <br /> SECOND ANDTHIRDREADINGS: <br /> AN ORDINANCE of the City Council of the City of Everett, <br /> Washington, providing .for the acquisition,: through a <br /> lease with optiont .N <br /> purchase, of the all Street <br /> Building; authorizingexecution of such lease and other <br /> documents, and approving the financing plan for such <br /> transaction. <br /> Bruce Jones, City Attorney, told C uncll that the figure to be <br /> inserted in the first paragraph on page 4 was t0 be$11,320,000. <br /> Leslie Cooper,f4827 Glenhaven, requested a financial statement <br /> for the past five years and asked Council to evaluate their <br /> priorities for the future. <br /> Councilman Diamond requested Bill Cushman t0 make this <br /> information <br /> ormation available to Mr.Cooper withcc s to the Council. <br /> Councilman Overstreet had questions regarding debt capacity. <br /> Attorney Bruce Jones reminded Council that this was a binding <br /> obligation that could.not be walked away from. He also said <br /> that a building inspection showed some deficiencies relating to <br /> -corridors which were considered life-safety matters. After <br /> discussing a possible price adjustment with the seller the <br /> seller refused stating that the sprinkler system in the <br /> building fareweeded'code requirements. The other alternative <br /> os to pull out of the deal. <br /> Councilman Morrow said that the building was not a new building <br /> and recognized that conformance to the code was essential but <br /> not amajor problem. <br /> Moved by Councilman Gipson, seconded ny Councilman Overstreet a <br /> that this is declared to be the final reading of Council Bill <br /> No.91o2-9 and the City Clerk is directed to call the roll foe <br /> the final disposition of the ordinance. <br /> AYES: Anderson,Moser,Diamond,Gipson,Morrow, <br /> Pope,Ove[stxeet <br /> NAYS: Nene <br /> Ordinance No.1774-91 <br /> adapted. <br />