HomeMy WebLinkAbout2008-02-04-Resolutions 08-26_All Lines of IA - Development Agr AssignRESOLUTION NO.08-26
RESOLUTION APPROVING AND AUTHORlZING
EXECUTION OF AN ASSIGNMENT OF DEVELOPMENT
AGREEMENT
WHEREAS,on the 23rd day of July,2007,the City of Waukee,Iowa (the "City")and
Chris Bailey (the "Assignor")entered into a Development Agreement (the "Agreement")
pursuant to which the Assignor agreed to undertake certain commercial development activities,
including the Project (as defined therein),and the City agreed to make to Assignor certain
Payments (as defined therein)commencing December 1,2009;and
WHEREAS,the City has received a proposal from the Assignor,in the form of a
proposed Assignment of Development Agreement (the "Assignment")by and between the
Assignor and All Lines of Iowa,Inc.(the "Assignee"),pursuant to which,among other things,
the Assignor agrees to assign all of its right,title,and interest in and to the Agreement,including
the Payments,to the Assignee,and the Assignee agrees to assume all obligations of the Assignor
under the Agreement,including the obligations with respect to the Project and the timely
payment of all property taxes as they come due throughout the term of the Agreement;and
WHEREAS,Article C,section I of the Agreement requires an assignment of the
Agreement by the Assignor to be consented to by the City.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE,IOWA:
Section 1.That the form and content of the Assignment,the provisions of which are
incorporated herein by reference,be and the same hereby are in all respects authorized,approved
and confirmed,and the Mayor and the City Clerk be and they hereby are authorized,empowered
and directed to execute,attest,seal and deliver the Assigrnnent for and on behalf of the City in
substantially the form and content now before this meeting,but with such changes,
modifications,additions or deletions therein as shall be approved by such officers,and that from
and after the execution and delivery of the Assignment,the Mayor and the City Clerk are hereby
authorized,empowered and directed to do all such acts and things and to execute all such
documents as may be necessary to carry out and comply with the provisions of the Assignment
as executed.
PASSED AND APPROVED this 4th day of February,2008.
ATTEST:
ROLL CALL VOTE
Donald L.Bailey,Jr.
Casey L.Harvey
C.Isaiah McGee
Darlene Stanton
Mike Watts
AYE
X
X
X
X
X
NAY
I
ABSENT ABSTAIN
1