HomeMy WebLinkAbout2009-06-08 09-200 RESOLVE_COUNCIL ACTION
Item No.
Date: June 7, 2009
Item/Subject: RESOLVE, Appropriating $1,100,000 from Airport Unanticipated Revenues from
Fiscal Year 2009 for the Purchase of Fuel Trucks and ExxonMobil's Interest in
Assets at Bangor International Airport.
Responsible Department: Airport
Commentary:
The City Council authorized the Airport to enter into an agreement for the purchase of fuel trucks
and ExxonMobil's interest in various assets at Bangor International Airport for $1.1 million dollars.
This resolve will appropriate the necessary funds for this purpose. In January 2009, ExxonMobil
notified the City of its intent to not renew its agreement for an additional term. In accordance with
the original lease, the Airport has the option to purchase ExxonMobil's assets at the Airport. As
these assets have value to the Airport, the Airport recommended purchasing them. In addition,
ExxonMobil owns a fleet of fuel trucks at the Airport which the Airport will need for future
operations. Actual Airport revenues will exceed budget projections by approximately $1.6 million
dollars in FY 2009. The Airport recommends using $1.1 million of this money for the purchase of
these assets. The remaining $500,000 will be transferred to the Airport's trust account.
Rebecca Hupp
Department Head
Manager's Comments:
A Council Order authorizing the purchase of these assets was approved on May 27, 2009. This resolve
will appropriate the necessary funds.
d,44�,Tv�
City Manager
Associated Information:
Budget Approval:
finance Director
Legal Approval:
Introduced for
Passage
X First Reading
X Referral to Finance June 15, 2009 @ 5 p.m.
Solicitor
Page 1 of 1
J0 200
Assigned to Councilor- Bronson June 8, 2009
CI`T'Y OF BANGOR
(TITLE.) Resolve, Appropriating $1,100,000 from Airport Unanticipated Revenues from Fiscal Year
2009 for the Purchase of Fuel Trucks and ExxonMobil's Interest in Assets at Bangor
International Airport.
WHEREAS, Bangor International Airport's net revenues have far exceeded the budgeted amounts for
fiscal year 2009; and
WHEREAS, In January 2009, ExxonMobil notified the City of its intent to not renew its agreement for
an additional term; and
WHEREAS, In accordance with the original lease, the Airport has the option to purchase ExxonMobil's
assets at the Airport; and
WHEREAS, These assets have value to the Airport; and
WHEREAS, ExxonMobil owns a fleet of fuel trucks at the Airport which the Airport will need for future
operations; and
WHEREAS, the Airport and ExxonMobil have reached agreement on a purchase price of $1.1 million
dollars for the trucks and assets;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT
there is hereby appropriated $1,100,000 from Airport unanticipated revenues from Fiscal Year 2009 for
the purchase of fuel trucks and ExxonMobil's interest in assets at Bangor International Airport.
The City Finance Director is hereby authorized to place these amounts within the appropriate accounts.
IN CITY COUNCIL
June 8, 2009
First Reading & Referred to
Finance Committee
CLERK
IN CITY COUNCIL
June 22, 2009
Motion Made and Seconded for Passage
Passed
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# 09-200
(TITLE) AURORRIATIM $I IOn nnn FROM AIRPORT
FOR THE PURCHASE OF FUEL TRUCKS AND E%%ONMOBIL'S
INTEREST IN ASSETS AT BANGOR INTERNATIONAL AIRPORT.
(FIRST READING, REFERRED TO FINANCE JUNE 15,2009)
Assigned to Councilor T�Z�� —