Res 017-2009 2/3/2009 RESOLUTION NO. 1 �oQ
RESOLUTION TO APPROVE AN AMENDMENT TO THE RENTAL CAR
LEASE AGREEMENT BETWEEN THE CITY OF WICHITA FALLS AND
THE HERTZ CORPORATION; FINDING AND DETERMINING THAT THE
MEETING AT WHICH THIS RESOLUTION WAS PASSED WAS OPEN
TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City of Wichita Falls has a Rental Car Concession Agreement
with The Hertz Corporation; and
WHEREAS, The Hertz Corporation has requested some financial relief from that
agreement; and
WHEREAS, circumstances exist indicating the relief is justified in exchange for a
shortened agreement term.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. Article IV, Item 1 of said contract is amended to read as follows:
"Lessee agrees to pay an annual concession fee for the rights and privileges
herein granted by the City, as follows:
A minimum concession fee equal to seventy-five percent (75%) of the previous
year's concession fees (with the calculation of the previous year's concession fees will
be for the period ending December 31, 2008.)
or
10% of Gross Monthly Revenue, which ever is greater"
SECTION 2. The new minimum concession fee will be applicable for all
concession periods after December 31, 2008.
SECTION 3. The expiration date of such agreement will change from February
28, 2010 to October 31, 2009.
SECTION 4. the City of Wichita Falls hereby authorizes the City Manager to
execute the attached amendment to the Rental Car Agency Agreement with The Hertz
Corporation.
SECTION 5. It is hereby officially found and determined that the meeting at
.
which this resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the 3� day of February 2009.
MAYOR
ATTEST:
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City Clerk