Res 1994 9/6/1977RESOLUTION NO. 1994
RESOLUTION ACCEPTING BID OF SOUTHERN AVIATION
OF TEXAS, INC. TO ENTER INTO A LEASE WITH THE
CITY OF WICHITA FALLS FOR FIXED BASE OPERATOR
FBO) SERVICES AT WICHITA FALLS MUNICIPAL AIR-
PORT AND AUTHORIZING THE CITY MANAGER TO EXECUTE
A LEASE WITH SOUTHERN AVIATION OF TEXAS, INC.
BASED UPON THE TERMS IN THEIR BID AND THEIR
ACCEPTANCE OF THE PROPOSED PAYMENT SCHEDULE.
WHEREAS, on August 15 , 1977 , at 10: 00 o' clock a. m. , bids
were opened for the Fixed Base Operator' s (FBO) lease at Wichita
Falls Municipal Airport; and,
WHEREAS, two bids were received, one from Southern Aviation
of Texas, Inc. and one from Chaparral Aviation, Inc. ; and,
WHEREAS, the bid of Southern Aviation of Texas, Inc. is
the highest and best bid received on the proposed Fixed Base
Operator' s lease at Wichita Falls Municipal Airport; and,
WHEREAS, the acceptance of the bid of Southern Aviation
of Texas , Inc. is expressly conditioned upon and subject to Southern
Aviation of Texas, Inc. meeting its past contractual obligations
to the City of Wichita Falls by its agreement to make payments
in accordance with the attached payment schedule.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN
OF THE CITY OF WICHITA FALLS, TEXAS, THAT:
The bid of Southern Aviation of Texas, Inc. on the proposed
Fixed Base Operator' s lease at Wichita Falls Municipal Airport
is hereby accepted subject to Southern Aviation of Texas, Inc. ' s
agreement to make payments in accordance with the attached payment
schedule to fulfill its past contractual obligations to the City
and the City Manager is hereby authorized to execute a lease
with Southern Aviation of Texas, Inc. to act as Fixed Base Operator
at Wichita Falls Municipal Airport based upon the terms included
in their bid submitted on August 15, 1977 , except that the initial
term shall be two years; if Southern Aviation fulfills its obli-
gation for the two year period, the City shall have an option to
extend the lease for an additional three years; if Southern
Aviation fulfills its obligations for the additional three
year period, the City shall have an option to extend the
lease for an additional five years.
PASSED AND APPROVED this the 6th day of September, 1977.
A Y 0 R
ATTEST:
City Clerk
2 -
SOUTHERN AVIATION
1. Pay City $35,463.66 (June 76 - April 77) over a 60 month
period as per attached amortization schedule.
2. May
Rent 424.23
Flowage 1,876.12
3,739.34) 2,300.35
3. June
Rent 424.23
Flowage 1,356.12
3,326.62) 1,780.35
4. July
Rent 424.23
Flowage 1,488.32
3,460.62) 1,912.55
10,526.58 5,993.25
This would be paid in lump sum now, plus the August payment
on same basis immediately.
5. We would assume lease payments to CNB on T-Hangar, beginning
Max 1, 1977. We would take over ownership now and the re-
maining note payments.
t /.
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CITY OF WICHITA FALLS, TEXAS
AMORTIZATION SCHEDULE - AIRPORT
Southern Aviation Payment of Past Contractural Obligations
June 1976 Thru April 1977
Interest Rate 811%
Payment Note Principal Principal
For Payment Interest Reduction Balance
35,463.66 •
Nov 1977 727.61 251.20 476.41 34,987.25
Dec 1977 727.61 247.83 479.78 34,507.47
Jan 1978 727.61 244.43 483.18 34,024.29
Feb 1978 727.61 241.00 486.61 33,537.68
Mar 1978 727.61 237.56 490.05 33,047.63
Apr 1978 727.61 234.09 493.52 32,554.11
May 1978 727.61 230.59 497.02 32,057.09
Jun 1978 727.61 227.07 500.54 31,556.55
Jul 1978 727.61 223.53 504.08 31,052.47
Aug 1978 727.61 219.95 507.66 30,544.81
Sep 1978 727.61 216.36 511.25 3.0,033.56
Oct 1978 727.61 212.74 514.87 29,518.69
Nov 1978 727.61 209.09 518.52 29,000.17
Dec 1978 727.61 205.42 522.19 28,477.98
Jan 1979 727.61 201.72 525.89 27,952.09
Feb 1979 727.61 197.99 529.62 27,422.47
Mar 1979 727.61 194.24 533.37 26,889.10
Apr 1979 727.61 190.46 537.15 26,351.95
May 1979 727.61 186.66 540.95 25,811.00
Jun 1979 727.61 182.83 544.78 25,266.22
Jul 1979 727.61 178.97 548.64 24,717.58
Aug 1979 727.61 175.08 552.53 24,165.05
Sep 1979 727.61 171.17 556.44 23,608.61
Oct 1979 727.61 167.23 560.38 23,048.23
Nov 1979 727.61 163.26 564.35 22,483.88
Dec 1979 727.61 159.26 568.35 21,915.53
Jan 1980 727.61 155.23 572.38 21,343.15
Feb 1980 727.61 151.18 576.43 20,766.72
Mar 1980 727.61 147.10 580.51 20,186.21
Apr 1980 727.61 142.98 584.63 19,601.58
May 1980 727.61 138.84 588.77 19,012.81
Jun 1980 727.61 134.67 592.94 18,419.87
Jul 1980 727.61 130.47 597.14 17,822.73
Aug 1980 727.61 126.24 601.37 17,221.36
Sep 1980 727.61 121.98 605.63 16,615.73
Oct 1980 727.61 117.69 609.92 16,005.81
Nov 1980 727.61 113.38 614.23 15,391.58
Dec 1980 727.61 109.03 618.58 14,773.00
Jan 1981 727.61 104.64 622.97 14,150.03
Feb 1981 727.61 100.23 627.38 13,522.65
Mar 1981 727.61 95.78 631.83 12,890.82
Apr 1981 727.61 91.31 636.30 12,254.52
May 1981 727.61 86.80 • 640.81 11,613.71
Jun 1981 727.61 82.26 645.35 10,968.36 •.
Jul 1981 727.61 77.69 649.92 10,318.44
Aug 1981 727.61 73.09 654.52 9,663.92
Sep 1981 727.61 68.45 659.16 9,004.76
Oct 1981 727.61 63.78 663.83 8,340.93
Nov.1981 727.61 59.08 668.53 7,672.40
Dec 1981 727.61 54.35 673.26 6,999.14
36,380.50 7,915.98 28,464.52
IL
AMORTIZATION SCHEDULE - AIRPORT
Page 2
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Payment Note Principal Principal
For Payment Interest Reduction Balance
Jan 1982 727.61 49.58 678.03 6,321.11
Feb 1982
Mar 1982
727.61 44.77 682.84 5,638.27
4,950.60
692.54 4,258.06
727.61 39.94 687.67
Apr 1982 727.61 35.07
May 1982 727.61 30.16 697.45 3,560.61
Jun 1982 727.61 25.22 702.39 2,858.22
Jul 1982 727.61 20.25 707.36 2,150.86
Aug.1982 727.61 15.23 712.38 1,438.48 .
Sep 1982 727.61 10.19 717.42 721.06
Oct 1982 727.61 6.55 721.06 0-
7,276.10 276.96 6,999.14
36,380.50 7,915.98 28,464.52
43,656.60 8,192.94 35,463.66 0
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