Res 017-2014 2/4/2014RESOLUTION NO. 17-2014
Resolution authorizing a 5-year, 20% increase of the annual lease
amount on Lake Arrowhead leases with review dates in 2014
WHEREAS, Resolution 77-2001, dated June 28, 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 $690.00 and $1,380.00 are set to expire
on these leases as of either June 1, 2014 (22 leases) or September 30, 2014 (49
leases), and raising the annual lease rates to $828.00 and $1,656.00 conforms to the
rates established for the new generation leases adopted through the passage of
Resolution 77-2001.
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
2014, which are currently leased at $690.00 or $1,380.00, shall increase to $828.00 and
$1,656.00 per year for the next five-year period beginning on June 1, 2014 and
September 30, 2014.
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 4th day of February, 2014.
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M A Y O R
ATTEST:
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City Clerk