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<br /> 197 <br /> RESOLUTION 1998 - 153 R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS, APPROVING THE TERMS AND CONDITIONS OF A LEASE OF <br /> AIRPORT PROPERTY BETWEEN THE CITY AND B.B.M. HANGAR <br /> CORPORATION C/O CHAD AIRPORT AND LAND DEVELOPMENT <br /> COMPANY; AUTHORIZING THE CITY MANAGER TO EXECUTE THE <br /> LEASE ON BEHALF OF THE CITY AND DECLARING AN EFFECTIVE <br /> DATE. <br /> RECITALS: <br /> 1. Chad Airport and Land Development Company of Round Rock, Texas, proposes <br /> to lease approximately three acres of Airport Property for the purpose of <br /> constructing aviation business facilities to include hangars, shop spaces, offices, <br /> etc. The Lease term is for 30 years. The Developert proposed investment in <br /> facilities is estimated to be $2.5 million dollars. <br /> 2. Bob Brown, President of Chad Airport and Land Development Company is <br /> proposing this project as Phase I of a two part project. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> PART 1. The terms and conditions of the attached Lease are approved. <br /> PART 2. The City Manager, Larry D. Gilley, is authorized to execute the Lease <br /> on behalf of the City. <br /> PART 3. This Resolution shall be in full force and effect immediately from and <br /> after its passage. <br /> ADOPTED this the 27th day of July, 1998. <br /> <br /> fs~ ~. ~ <br /> Billy G. Moore <br /> Mayor <br /> Attest: <br /> t~~i. ~~;/ <br /> Janis K. Womack <br /> City Secretary <br />