HomeMy WebLinkAbout01737B. Last Fourteen Years. • Subject to the fol-
lowing terms and conditions, the rent for the last
fourteen years of the term of said lease shall be
$231,201.67. The City acknowledges hereby that,
under the March 3, 1928 lease between the City, as
Lessor, and Crown, as Lessee, as modified and ex-
tended by the August 7, 1944 lease between the par-
tiesthereto (which lease is identified'in Section II
of the proposed form of lease, approved by the City
Attorney, and now on file in the City Clerk's Office,
Lessee has prepaid rent for the period that would have
commenced April 1, 1956 and would have expired January 1,
1968 in the sum of $231,201.67 and acknowledges also
that Lessee has not received value or consideration
for said prepayment under the said 1928 lease, as
modified and extended by said 1944 lease, which now
shall be terminated. Therefore, the City will credit
to Lessee's rental account under the said new lease
the sum of $231,201.67, all of which shall be ap-
plied to rental falling due on and after March 16,
1986.
Section 2. The Mayor and the Clerk of the City are
authorized and directed hereby to execute on behalf of the
City a lease of the property described in Section 1 hereof
in the form and on the terms and conditions generally set
forth in Resolution No. 56-1, which lease form, as approved
by the City Attorney, now is on file in the Office of the City
Clerk and is open to inspection by any and all qualified
electors of the City during regular office hours.
Section 3. This Ordinance shall be published once
in the "Port Townsend Leader" on March 8, 1956 but it shall
not take effect or be in force until approved by a majority of
those qualified electors of the City who vote at the special
election to be called and to be held on March 13, 1956 as
required by Chapter 137 of the Session Laws of.1917, State
of Washington.
Introduced and read for the first time at the regular
meeting of the City Council held on February 21, 1956.
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