HomeMy WebLinkAbout1993-07-12 93-362 RESOLVE93-362
Item/Subject: Resolve which ratifies the City manager's Execution
of Final Lease Documents Associated with the
Expansion of general Electric Company's Facilities
at Bangor International Airport
Responsible Department: Community A Economic Develapment
Commentary:
The attached Resolve will officially ratify the execution of
lease documents between the City of Bangor and General Electric
Company. The Indenture of Lease and related documents are
consistent with the lease outline presented to the City Council
prior to Passage of Council Order 93-297 which authorised the City
Manager to execute a lease with general Electric. A Maine
Department of Environmental Protection permit has been received and
site work for this $6 million expansion of G.E. facilities has
begun.
6}m�nJDED SY Su I r
Finance Director
Legal Approval: Paz ¢t Ais ism
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COUNCIL
ACTION
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93-aYj.
First Reading
Page
Date
Selo 12,
1993
Stem
No.
Item/Subject: Resolve which ratifies the City manager's Execution
of Final Lease Documents Associated with the
Expansion of general Electric Company's Facilities
at Bangor International Airport
Responsible Department: Community A Economic Develapment
Commentary:
The attached Resolve will officially ratify the execution of
lease documents between the City of Bangor and General Electric
Company. The Indenture of Lease and related documents are
consistent with the lease outline presented to the City Council
prior to Passage of Council Order 93-297 which authorised the City
Manager to execute a lease with general Electric. A Maine
Department of Environmental Protection permit has been received and
site work for this $6 million expansion of G.E. facilities has
begun.
6}m�nJDED SY Su I r
Finance Director
Legal Approval: Paz ¢t Ais ism
will eemte a lerord Af ✓/rmA! Ci{Yaril /.
a �e:e✓+( ✓I rle. Actual kove e(eea. &6 AS city Solicitor
lire✓dee( 6✓ N CN, Mas Pw This Ae
Introduced" For A.;Of
X Passage Cify
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93-aYj.
First Reading
Page
1 of 2
93-362
AMENDED BY SUBSTITUTION
CITY OF BANGOR
(TITLE) �Csvboz,., Ratifying the City Manager's Execution of Final
Lease and Loan Documents Associated with the Expansion of General
Electric Company's Facilities at Bangor international Airport
By Ste City Coyysil of We My ofBameoz:
"SOLVED.
WHEREAS, the City Council authorized the City Manager to
execute a "Indenture of Lease" with General Electric Company for
lease of land and buildings at Bangor International Airport by
passage of Council Order 93-247; and
WHEREAS, final lease documents have been prepared and executed
by General Electric Company and the City of Bangor; and
WHEREAS, on August 4, 1993 the City Manager executed certain
loan documents necessary to secure project financing as outlined in
the memorandum attached to Council Order 93-247; and
WHEREAS, said lease and loan documents are consistent with the
General Electric negotiations outline presented and approved by the
City Council in April 1993;
NOW, THEREFORE, By the City Council Of the City of Bangor:
RESOLVED,
THAT the City Council of the City of Bangor hereby ratifies
She City Manager's execution, in final form, of the "Indenture of
Lease" with General Electric Company for the lease of land and
buildings at Bangor International Airport, dated June 30, 1993, and
related documents thereto, including loan documenta dated August 4,
1993, copies of which are on file in the City Clerk's office.
IN CITY COUNCIL
AUGUST 9, 1993
Passed
A TCaPY. q�
✓p
C CLffiLL(
93-362
Assigned to Councilor Sullivan, July 12, 1993
' CITY OF BANGOR
(TITLE)¢sGIUPr Aati£ying.the ,City ifs .g 'e .Execution of Final Le Documents
Associated with the Crustai= of General. Electric Compaay's
Fg 1 ties et Bangor InternationalAirport..
By Me City' Ca of Me City ofBanpor.
RESOLVED,
WHEREAS, the City Council authorized the City Manager to
execute an "Indenture of Lease^ with General Electric Corporation
for lease of land and buildings at Bangor International Airport by
passage of Council Order 93-247; and
WHEREAS, final lease documents have been prepared and
executed by General Electric Company and the City of Bangor; and
WHEREAS, said lease documents are consistent with the
General Electric negotiations outline presented and approved by the
City Council in April 1993.
THEREFORE BE IT RESOLVED that the City Council hereby
ratifies the eXeCUtiOn of the final form of the Indenture of
Lease- and related documents dated June 30, 1993 with General
Electric Company for Lease of Land and Buildings at Hangar
International Airport, a copy of which are on file in the City
Clerk's office.
IN CITY COUNCIL
July 12, 1993 /
Tabl f[�
CITY CLEW
IN CITY COUNCIL
August 9, 1993
Amended by Substitution and
Pas
CITY L RR
93-362
9 E 5 0 L V E
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