Res 041-2008 4/1/2008 RESOLUTION NO. 41-2008
RESOLUTION AUTHORIZING AN ANNUAL RATE INCREASE OF 19 LEASES
AT LAKE ARROWHEAD FOR THE PERIOD OF JANUARY 1, 2008 THROUGH
DECEMBER 31, 2013 DUE AND PAYABLE ON JUNE 1, 2008; FINDING AND
DETERMINING THAT THE MEETING AT WHICH THIS RESOLUTION WAS
PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, Section 1 of the original agreement designates a five year review and
adjustment of the annual lease rate of Lake Arrowhead properties not to exceed 130% of the
rate in effect the preceding five year period; and
WHEREAS, the current lease rate of $600.00 is subject to review and the new lease
payment is due on June 1, 2008.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, TEXAS, THAT:
SECTION 1 . The annual rental rate for 19 lease lots at Lake Arrowhead, currently
leased at $600.00 shall increase to $630.00 per year for the next five year period beginning on
June 1, 2008.
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 1 St day of April, 2008.
MAYOR
ATTEST:
City Clerk