90-4176 Agr AssumptionKuhn -Cox Printing — Salina, Kansas
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RESOLUTION NUMBER 90-4176
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE AND THE
CITY CLERK TO ATTEST CONSENT TO ASSIGNMENT AND ASSUMPTION OF
UNDIVIDED ONE-THIRD TENANT'S INTEREST AND TO MORTGAGE OF
LEASEHOLD ESTATE.
WHEREAS, In March, 1980, the City of Salina issued industrial revenue
bonds in the principal amount of $380,000 for the purpose of purchasing real
estate and constructing a laboratory and office facility to be leased to Gerald K.
Palmer, M.D., Norman E. Macy, M.D., and Boyd E. Smith (the "Tenant") and
subleased to Drs. Weber, Palmer, and Macy, Chartered, a Kansas professional
corporation (the "Subleasee);
WHEREAS, It is the desire of the Tenant and the Sublessee to obtain
the approval of the City for the assignment and assumption of a one-third
tenant's interest to James L. Cooper, M.D., pursuant to section 8.1 of the
City's lease with the Tenant dated March 1, 1980 (the "Lease");
WHEREAS, It is also the desire of the Tenant to finance the
construction of a building addition to the facility with conventional bank
financing and to obtain the City's consent to the granting of a leasehold
mortgage as part of the security for such financing pursuant to Section 8.1 of
the Lease; SO NOW, THEREFORE
Kansas:
BE IT RESOLVED by the Governing Body of the City of Salina,
Section 1. The Mayor is hereby authorized to sign and the City Clerk
to attest a Consent of the City of Salina, Kansas to assignment and assumption
of undivided one-third tenant's interest and to mortgage of leasehold estate
authorizing the assignment of an undivided one-third tenant's interest to
James L. Cooper, M.D. and the granting of a leasehold mortgage by the tenant
for the purpose of obtaining bank financing of an addition to the existing
laboratory and office facility.
Section 2. This resolution shall be in full force and effective from and
after its adoption.
Adopted by the Board of Commissioners and signed by the Mayor this
19th day of March, 1990.
JJ 4seph Warner, Mayor
(SEAL]
ATTEST_:`
Jacque ing-Shiever, City. Clerk