HomeMy WebLinkAboutC2016-073 - 2/23/2016 - Approved A
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Gift Agreement between the City of Corpus Christi
and the Corpus Christi Tennis Association
Whereas, the voters of the City of Corpus Christi Texas authorized Proposition 4 in
November 2012 which provided bond funds for improvements to the HEB & Al Kruse
Tennis Centers;
Whereas, the Corpus Christi Tennis Association desires to supplement the bond funds
with additional donated funding to be used by the City for improvements to the HEB
Tennis Center;
Now therefore, this Gift Agreement (the "Agreement") is made by and between the City
of Corpus Christi ("City") and the Corpus Christi Tennis Association, ("CCTA") a Texas
nonprofit corporation, and the parties mutually agree as follows:
1. The CCTA hereby agrees to gift to the City the amount of $100,000 ("the Gift") no
later than 30 days after signing this agreement for the sole purpose of construction of
improvements to the HEB Tennis Center.
2. CCTA acknowledges that timely receipt of the Gift by the City is required in order to
accommodate the construction schedule for the improvements to the HEB Tennis
Center.
3. All interest that accrues on the Gift shall be used solely by the City for improvements
to the HEB Tennis Center.
4. The City agrees to accept the Gift from the CCTA, which will be utilized solely on
improvements to the HEB Tennis Center, specifically the demolition and replacement of
the existing viewing platform.
5. Any portion of the Gift not disbursed by the City two years from the date of this
Agreement will be refunded to the CCTA.
6. This Agreement cannot be assigned, modified or amended unless both parties
mutually consent in writing, executed by representatives of each party. Copies of this
agreement are as legally effective as the original.
2016-073
2/23/16
Ord. 030776
Corpus Christi Tennis Association
INDEXED
CITY OF CORPUS CHRISTI CORPUS CHRISTI TENNIS ASSOCIATION
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Va er e H. Gr. , P.E. Date 'Christine Cone Da e 66
Ex: tive Dire• or P blic Works President
APPROVED AS TO LEGAL FORM
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Assistant City Attorney Date
REC' ENDED
31
Jay . ling'f i- e
Dire tor .f Parks and Recreation
ATTEST:Re-L-e.4t
REBECCA HUERTA
CITY SECRETARY
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