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207 0 <br /> May 1,1991 <br /> represents the maximum rental'value of the property, given the <br /> limitations of use of such property (sole use being for the <br /> construction and operation of a fire station)and further finds <br /> that because all rent charged lessee under said Ground Lease <br /> will be directly passed on to the City in the form of lease <br /> rent Por thecompleted fire station, the maximum feasible <br /> rental for the property is in Pact a nominal rental of 3100 <br /> prepaid rent. <br /> SECTION 3Execution of Construction Contract, Ground Lea <br /> Lease and Commitment Letter Authorized. <br /> The CityCo %e <br /> ncil authorizes the Mayor to cute the <br /> Construction Contract, Ground Lease and Lease for the <br /> construction of Fire Station No.2, which documents are on Pile <br /> with the City Clerk and incorporated herein by reference, with <br /> such changes as may be approved by the City Attorney and <br /> Freston Thorgcimsan Shidler Gates a Ellis, counsel to the <br /> City. Said execution is authorized subject to .prior <br /> publication and expiration of the notice period required for <br /> leasing of City property. The Mayor is further authorized to <br /> execute an acknowledgement oPacommitment letter from an <br /> underwriter relating to take-cut financing of Fire Station No. <br /> in such form as shall be approved by the City Attorney and <br /> Preston Thorgximson Shidler Gates a Ellis,counsel to the City. <br /> The City Council further authorizes and directs that City `.•' <br /> officers, employees and agents, take all action necessary o <br /> o <br /> advisable to accomplish such execution and carry out the terms <br /> and conditions of <br /> such agreements as executed,including but <br /> not limited to the publication ofthe notice of the Ground <br /> Leaseasrequired by City Charter. <br /> Roll was called with all Councilmen voting yea. - <br /> Notion carried. <br /> ]OB COMPLETE-EVERPARM TRANSIT MODULE 0 <br /> Moved by Councilman Gipson, seconded by Councilman Moser to <br /> accept the Everpark Transit Nodule as final and complete by <br /> Evergreen Mobile Company,and start the 30-day retention period. <br /> Roll was called with all councilmen voting yes. <br /> Motion carried. <br /> 0 <br /> 0 <br />