HomeMy WebLinkAboutCC RESO 13,869RESOLUTION NO. 13,869
RESOLUTION AUTHORIZING EXECUTION OF AN
AMENDMENT TO BUS LEASE AGREEMENT BETWEEN
THE CITY OF NATIONAL CITY AND SAN DIEGO
METROPOLITAN TRANSIT DEVELOPMENT BOARD
BE IT RESOLVED by the City Council of the City
of National City that the Mayor is hereby authorized and
directed to execute, that certain AMENDMENT TO BUS LEASE
AGREEMENT between the City of National City and the SAN
DIEGO METROPOLITAN TRANSIT DEVELOPMENT BOARD adding an
"Option to Purchase" section to bus lease agreement for
eight (8) non -air conditioned "flxible" transit buses.
PASSED AND ADOPTED this loth day of August, 1982.
ATTEST:
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City C1 rk
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AMENDMENT TO BUS LEASE AGREEMENT
Attachment
AI 22, 7/26/82 ORIGINAL
T 120.1
Document 62.2, 00-83-505
THIS AMENDMENT is entered into this 13th day of August 1982, by
and between the SAN DIEGO METROPOLITAN TRANSIT DEVELOPMENT BOARD, a public
agency established under Sections 120050, et seq., of the Public Utilities Code,
hereinafter "Board," and the CITY OF NATIONAL CITY, A municipal corporation,
hereinafter "Lessee."
WITNESSETH
WHEREAS, Lessee currently leases and operates eight (8) 1962-63
non -air conditioned "Flxible" transit buses; and
WHEREAS, Lessor and Lessee desire to continue said lease through
Fiscal Year 1982-83; and
WHEREAS, said Lessor and Lessee desire to enter an option to purchase
said buses, which option will fully and fairly compensate Lessor for the
depreciated value of said buses and will benefit Lessee by the acquisition of
title thereto; and
WHEREAS, Lessor is authorized to lease, mortgage, sell or otherwise
dispose of any real or personal property necessary to the full or convenient
exercise of its powers pursuant to Public Utilities Code Section 120240; NOW
THEREFORE
In consideration of the covenants, agreements, and conditions
hereinafter set forth, the parties agree to amend the Bus Lease Agreement
previously entered into by and between them as follows:
Section 2 of said agreement is amended to read:
SECTION 2. TERM
The term of this lease shall be for the Fiscal Year commencing July 1, 1982 and
terminating June 30, 1983.
Section 18 is added to said agreement to read as follows:
SECTION 18. OPTION TO PURCHASE
Lessee is hereby granted options to purchase any or all of the eight (8) buses
subject to this lease at any time or times throughout Fiscal Year 1982-83. Said
options may be exercised upon thirty days written notice to Lessor and upon
payment of the remaining unpaid monthly lease payments for said Fiscal Year
1982-83 for said bus or buses. Upon the expiration of this lease, Lessee may
purchase any or all of the buses upon thirty days notice and payment of $1.00
for each bus so. purchased. Upon exercise of said option or options title to
said bus or buses shall be transferred from Lessor to Lessee at Lessee's
expense. Said buses shall be sold as is, without warranty or guarantee of
fitness for use or merchantability for any purposes.
IN WITNESS WHEREOF, the parties have executed this First Amendment to
Bus Lease Agreement on the day, month and year first above written.
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CITY OF NATIONAL CITY SAN DIEGO METROPOLITAN TRANSIT
DEVELOPMENT BOARD
By:
Approved as to form:
By: ''nn
Dona d F. McLean, Jr.
City Attorney
S/G
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By : 1''1
Approved as to form:
By:
enerai counse
San Diego Metropolitan
Transit Development Board