Res 012-2019 5 Yr Increase Annual Lease Kickapoo 2/5/2019
Resolution No. 12-2019
Resolution authorizing a 5-year, 20.75% increase of the annual lease
amount on Lake Kickapoo leases with review dates in 2019
WHEREAS, Resolution 73a-94 established a policy for re-leasing Lake Kickapoo
lots, with the lease agreement designating a five-year review and adjustment of the
annual lease rate; and,
WHEREAS, the current lease rates ranging from $828.00 to $1,704.00 are set to
expire on these leases as of September 30, 2019, and raising the lease rates to reflect
an increase of 20.75% annually conforms to the rates established for the new generation
leases adopted through the passing of Resolution 73a-94 dated May 17, 1994.
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 Kickapoo with review dates in 2019,
which are currently leased for $828.00, $882.00, $1,312.00, $1,656 and $1,704.00, shall
increase to $1,000.00, $1,065.00, $1,584, $1,666.00, $2,000.00 and $2,058.00 per year
for the next five-year period beginning on 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.
PASSED AND APPROVED this the 5th day of February, 2019.
______________________________
M A Y O R
ATTEST:
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City Clerk