Res 031-2016 3/15/2016
Resolution No. _31-2016_
Resolution authorizing a twenty percent increase of the annual lease
amount on 10 Lake Arrowhead leases with review dates in 2016 for
an additional period of five years with the next review dates in 2021
WHEREAS, Resolution 73a-94 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 rate of $690.00 is set to expire on these 10 leases
as of June 1, 2016 and raising the annual lease rates to $828.00 conforms to the rates
established for the new generation leases adopted through the passing of Resolut ion
77-2001 dated June 28, 2001 and Resolution 17 -2014 dated February 4, 2014.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
The annual lease rate for 10 lease lots at Lake Arrowhead that expire on June 1,
2016 that are currently $690.00 shall increase to $828.00 per year for the next five year
period beginning on June 1, 2016 . The annual payment will remain due as indicated
on the lease agreement.
PASSED AND APPROVED this the 15th day of March, 2016.
______________________________
M A Y O R
ATTEST:
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City Clerk