Res 011-2019 5 yr Increase Annual Lease Arrowhead 2/5/2019
Resolution No. 11-2019
Resolution authorizing a 5-year, 20.75% increase of the annual lease
amount on Lake Arrowhead leases with review dates in 2019
WHEREAS, Resolution 77-2001 established a policy for re-leasing Lake
Arrowhead lots with the lease agreement designating a five-year review and adjustment
of the annual lease rate; and,
WHEREAS, the current lease rates of $828.00 and $1,656.00 are set to expire
on these leases as of either June 1, 2019 (19 leases) or September 30, 2019 (191
leases), and raising the annual lease rates to $1,000.00 and $2,000.00 conforms to the
rates established for the new generation leases adopted through the passage of
Resolution 77-2001 dated June 28, 2001.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
1. The annual lease rate for lease lots at Lake Arrowhead with review dates in
2019, which are currently leased at $828.00 and $1,656.00, shall increase to $1,000.00
and $2,000.00 per year for the next five-year period beginning June 1, 2019 and
September 30, 2019.
2. The annual payment will remain due as indicated on the lease agreements.
3. The City Manager is authorized to execute leases incorporating the aforesaid
changes, in a form to be approved by the City Attorney.
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PASSED AND APPROVED this the 5 day of February, 2019.
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M A Y O R
ATTEST:
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City Clerk