Res 081-2004 6/15/2004RESOLUTION NO. 'R! — , �)4
RESOLUTION AUTHORIZING AN INCREASE OF THE ANNUAL LEASE
AMOUNT ON ONE (1) LEASE LOT AT LAKE KICKAPOO TO $1235.00
FOR A PERIOD OF FIVE YEARS BEGINNING ON OCTOBER 1, 2004
THROUGH SEPTEMBER 30,2009 FINDING AND DETERMINING THAT
THE MEETING AT WHICH THIS RESOLUTION WAS PASSED WAS
OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, Resolution 73 -94 established a policy for re- leasing with the lease
agreement designating a five year review and adjustment of the annual lease rate; and
WHEREAS, the current lessee requested the existing lot re- plated to allow for
the construction of a larger home and to allow for more area for the on site sewage
disposal system. The property was appraised by an independent certified appraiser
who determined that $950 per year was fair market value of the re- plated lease lot; and
WHEREAS, raising this lease to $1,235.00 annually will keep the rate increase
standardized with the other lease lot rate increases of 30 %.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1 . The annual lease rate for Lot 14 Block D, South Lake Kickapoo,
currently leased for $950.00 shall increase to $1235.00 per year for the next five year
period beginning on October 1, 2004 through September 30, 2009, and the annual
payment will remain due on or before September 30' each year.
SECTION 2 . 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 15' day of June 2004.
MAYOR
ATTEST:
City Clerk