HomeMy WebLinkAbout020350 RES - 06/21/1988A RESOLUTION
AUTHORIZING THE EXECUTION OF AN AMENDMENT TO THE AGREEMENT
WITH THE FOUNDATION FOR SCIENCES AND ARTS, INC.; AND
APPROPRIATING $300,000.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. That the City Manager is hereby authorized to execute an
Amendment to the Agreement of July 9, 1987, with the Foundation for Sciences and
Arts, Inc., a substantial copy of which Amendment is attached hereto as
Exhibit A.
SECTION 2. There is hereby appropriated $54,170 from the Convention
Center Improvement Trust Account and $245,830 from the Convention Center Major
Maintenance Trust Account, for a total appropriation of $300,000, for the
purpose of carrying out said Amendment, which shall be redeposited in said
accounts upon reimbursement to City by the Foundation in accordance with said
Amendment.
ATTEST:
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i y Secretary MA
APPROVED: ht DAY OF �v .� , 19 g�
HAL GEORGE, CITY ATTORNEY
ant City Attor
206JB118.res
THE CITY OF CORPUS CHRISTI, TEXAS
zoaso MICROFILMED
AMENDMENT TO AGREEMENT OF JULY 9, 1987
WHEREAS, the City of Corpus Christi, Texas, (herein "City") and the
Foundation for Sciences and Arts, Inc. (herein "Foundation") entered into an
agreement on July 9, 1987, (herein the "Agreement") concerning the planning and
development of a water garden and parking facility in the Bayfront Science Park;
and
WHEREAS, the Agreement amended a previous Letter of Agreement dated
June 12, 1984, and a subsequent amendment thereto dated April 23, 1985; and
WHEREAS, the Foundation is not obligated under paragraph 3 of the
Agreement to deposit its final $300,000 in the construction account until
December 31, 1988; and
WHEREAS, the water garden improvements have been completed; and
WHEREAS, the parties desire to clarify payment of project costs
pending Foundation's deposit of said $300,000;
NOW, THEREFORE, City and Foundation agree to amend the Agreement as.
follows:
Paragraph 3 of the Agreement is amended to hereafter read as follows:
3. Foundation agrees to deposit $450,000 in a construction account
by August 1, 1987, and another $400,000 by September 1, 1987, for
its share of funding of the project.
It is agreed that the Foundation will immediately start a
fundraising effort to raise an additional $300,000 and will
deposit to the construction account the additional sum of
$300,000 by December 31, 1988. Prior to said deposit, upon
verification by Foundation of construction costs owing in
addition to the $1,190,088.50 paid to date by City and the
$890,088.50 paid to date by Foundation, City will pay to
Foundation the amount of said verified costs not exceeding
206JB118.res
$300,000, subject to full reimbursement to City by Foundation not
later than December 31, 1988, as provided by paragraph 4 hereof.
EXECUTED in duplicate originals this the day of
1988.
ATTEST: CITY OF CORPUS CHRISTI
By
Armando Chapa, City Secretary Juan Garza City Manager
APPROVED:
HAL GEORGE, CITY ATTORNEY
By
Assistant City Attorney
Date:
FOUNDATION FOR SCIENCES AND ARTS, INC.
Title:
206JB118.res
CITY OF CORPUS CHRISTI, TEXAS
CERTIFICATION OF FUNDS
(City Charter Article IV Section 21)
June 15. 1988
I certify to the City Council that $ 54,170 , the amount required for
the contract, agreement, obligation or expenditures contemplated in the above
and foregoing ordinance is in the Treasury of the City of Corpus Christi to the
credit of:
Fund No. and Name 111 Trust Fund
Project No. 111-000-243.41-000
Project Name Covention Center Improvements
from which it is proposed to be drawn, and such money is not appropriated for any
other purpose.
Balance
$54,169.84
FIN 2-55
Revised 7/31/69
, 19 /4'
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CITY OF CORPUS CHRISTI, TEXAS
CERTIFICATION OF FUNDS
(City Charter Article IV Section 21)
June 15, 1988
I certify to the City Council that $ 245,830 , the amount required for
the contract, agreement, obligation or expenditures contemplated in the above
and foregoing ordinance is in the Treasury of the City of Corpus Christi to the
credit of:
Fund No, and Name 111 Trust Fund
Project No. 111-000-243.43-000
Project Name Convention Center Major Maintennnz=e
from which it is proposed to be drawn, and such money is not appropriated for any
other purpose.
Balance
$524,494.76
FIN 2-55
Revised 7/31/69
()TA.,,.A-- f 0! , 19g Y
�Di ftor of Finale
Corpus Christi, Texas
:21 day of
The above resolution was passed by the following vote:
Betty N. Turner
David Berlanga, Sr.
Leo Guerrero
Clif Moss
Bill Pruet
Mary Rhodes
Frank Schwing, Jr.
Mary Pat Slavik
Linda Strong
99.066.01
20350
, 1988