HomeMy WebLinkAboutC1995-235 - 10/17/1995 - ApprovedAGREEMENT BETWEEN THE CITY OF CORPUS CHRISTI AND HARBOR
PLAYHOUSE, INC. CONCERNING A THERMAL ENERGY STORAGE SYSTEM
TO BE INSTALLED AT THE BAYFRONT ARTS AND SCIENCES PARK
This agreement (the "Agreement") is made by the City of Corpus Christi (the "City") and
Harbor Playhouse, Inc. (the "Harbor Playhouse").
The City and Harbor Playhouse acknowledge:
The City has agreed to install and operate a thermal energy storage system in the
Bayfront Arts and Sciences Park located in Corpus Christi, Texas.
The Harbor Playhouse leases its building at the Bayfi:ont Arts and Sciences Park fi:om the
City. The Harbor Playhouse desires to utilize the thermal energy storage system to cool
its building.
In exchange for the City's agreement to install and operate a thermal energy storage
system at the Bayfront Arts and Sciences Park, and in exchange for the use of the such system,
the Harbor Playhouse agrees:
to pay to the City a fixed share of the City's debt service payments for the thermal
energy storage system. In this regard, the Harbor Playhouse agrees to pay the
City monthly payments of $ 400.00;
to pay to the City a monthly pro rata share of the operating and repair costs for the
thermal energy storage system. The Harbor Playhouse's share of any monthly
total of such costs shall be in the same proportion as the Harbor Playhouse's
chilled water consumption for that month bears to the total chilled water
consumption by all users of the thermal energy storage system for that month. It
is acknowledged that the amount of these operating and repair costs will vary
from month to month; and
to make both of the above-described payments monthly for one hundred twenty
(120) months. Such payments shall be due on or before the first day of each
month beginning with the first day of the month after the date the thermal energy
storage system is placed in operation by the City.
AGREED TO BY:
HARBOR PLA~YHOUS~rlN. C~,
Title: 7,?,e-,~-~.-,~.--~ r
Date:_.~.~,~
95-235
10-17-95
M95-301
Harbor Playhouse, Inc.
CIT/Y~ COI~S CHRISTI
Name: Jl~ Oal~
Title: Cie M~ager
MJCROflLMEI)
ATTEST:
Armando Chapa
City Secretary
APPROVED AS TO FORM
THIS /~]K'bAY OF ~,
1995.
JAMES R. BRAY JR., CITY ATTORNEY
Michael L. Scanlon
Assistant City Attorney
MLS/mls
MS0921.008.skp(mls)