Ordinance 1949-93 - Laserfiche WebLink

• undertaken by the City, seeking bids for the acquisition of Contractor' s rights in the Property and the Lease; and WHEREAS, in connection with such lease financing and competitive bid process, it is necessary and advisable that the City authorize certain amendments to the Lease, and that the City authorize and ratify other actions and documents in connection therewith; and WHEREAS, following an independent review of the community theater project requested by the City Council, the City Council has determined that the project and the lease financing thereof are in all respects proper and in the best interest of the City and its residents; NOW, THEREFORE, the City of Everett does ordain, as follows : Section 1 . Definitions . Unless otherwise defined herein, all capitalized terms used in this ordinance shall have the meanings given such terms in the Lease. Section 2 . Findings . It is hereby found and declared that the public interest, welfare and benefit require the City to acquire the Property to meet the present and future needs of the City for a community theater and to accomplish the acquisition of the Property through the financing plan previously approved by Ordinance No. 1763-91, Resolution Nos . 3493 and 3543, and other actions of the City Council, as revised by this Ordinance and the Amendment to Lease authorized herein. It is also hereby found and declared, following an independent review of the community theater project requested by -3- DOT041.DOC 93/06/16