Laserfiche WebLink
Airport in accordance with the Airport Operating Plan, Chapter 10 of the San Marcos Code, the <br /> airport maintenance standards established by the City, FAA Regulations and any other applicable <br /> federal, state or local standards for public airports and the aviation industry. <br /> NOW, THEREFORE, in consideration of the mutual covenant contained herein, the City and <br /> Operator, do hereby contract and agree as follows: <br /> ARTICLE 1 <br /> DEFINITIONS <br /> 1.0.1 Airport means the San Marcos Airport depicted generally in a boundary map <br /> attached hereto as Exhibit A. <br /> 1.0.2 Airport Master Plan is the Plan adopted by the City that is on file with the City <br /> Manager and as amended from time to time and is incorporated by reference hereto. <br /> 1.0.3 Airport Property means all of the real property of the Airport (including without <br /> limitation, all improvements, appurtenances, buildings, facilities and fixtures) but <br /> excluding real property that is leased to third parties (during the term of any <br /> applicable lease). Airport Property shall include, without limitation, all runways, <br /> ramps, taxiways, lights, city-owned navigation or navigation aids and/or devices, <br /> markings, stripings, fences, boundaries, gates, hangars, buildings, improvements, <br /> landscaping, roadways, drainage systems, utility systems, and grounds. <br /> 1.0.4 Base Year Revenues means the Gross Revenues of the Airport for the Fiscal Year <br /> ending September 30, 2010. Base Year Revenues must increase by 4% each year <br /> (compounded)for purposes of calculating the Airport Revenue Incentive in Section <br /> 6.1.5(a)(2). <br /> 1.0.5 Capital Improvements means all permanent improvements that are $100,000 or <br /> greater in value or have a useful life of five (5) or more years. <br /> 1.0.6 City Manager means the City Manager of the City or designee. <br /> 1.0.7 Federal Aviation Administration or FAA means the U.S. Federal Aviation <br /> Administration existing pursuant to Title 49 of the United States Code,as amended, <br /> or any successor agency thereto. <br /> 1.0.8 Fiscal year means the consecutive twelve-month period from October 1 st through <br /> September 30th of the following year. <br /> 1.0.9 General Administrative Costs means those costs and expenses incurred in the <br /> general administration of the Airport. Such costs include but are not limited to <br /> accounting costs and costs of handling and processing payroll, bills, accounts <br /> receivable and accounts payable as more specifically set forth in this Agreement. <br /> Page 2 of 34 <br />