HomeMy WebLinkAbout87-021 RESOLUTION NO. F?-~/
RESOLUTION CONSENTING TO ASSIGNMENT OF GOLF
COURSE LEASE FOR COLLATERAL PURPOSES ONLY
WHEREAS, the City Council for the City of Port Townsend
approved the execution of a Lease Agreement between the City of
Port Townsend and Mike Early Golf Shops, Inc., by Resolution No.
87-07, dated January 30, 1987, and a Lease Agreement was entered
into, and
WHEREAS, the City and the Lessee agreed to certain amend-
ments to the Lease Agreement at the City Council's regular meeting
on April 21, 1987, and
WHEREAS, the Lessee has requested that the City consent
to assignment of the Lease Agreement, as amended, to a financial
institution for security and collateral purposes only, to secure
financing for improvements to be made to the golf course by the
Lessee pursuant to the lease terms, now therefore
BE IT RESOLVED by the City Council of the City of Port
Townsend that the Lessee be and he hereby is authorized, and the
City Council of the City of Port Townsend hereby consents to the
assignment of the Lease Agreement between the City of Port Townsend
and Mike Early Golf Shops, Inc., of the City's golf course, to a
financial institution, for security and collateral purposes only,
SUBJECT HOWEVER, to approval of the assignment documents by the
City Attorney for the City of Port Townsend, and
BE IT FURTHER RESOLVED that the Mayor and the Clerk of
the City be and they are hereby authorized to execute any such
documents approved by the City Attorney to carry out the terms of
this Resolution.
Passed by the City Council of the City of Port Townsend
on April 21, 1987, and signed by the Mayor this .~;~ day of
f~ ., 1987.
City~lerk, D;~; ~°ve
City Attorney, Kc~ith C, Harper
MAYOR, Brent Shirley