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Sponsored by: Oates <br /> Motion to Reconsider Failed 01/11/2010 <br /> 12/14/2009 <br /> CITY OF SEWARD, ALASKA <br /> RESOLUTION 2009 -137 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA, AUTHORIZING THE CITY MANAGER TO ENTER INTO A <br /> "SECOND AMENDED AND RESTATED AGREEMENT FOR LEASE OF <br /> TRACT 2A, WATERFRONT TRACTS, AND THE LEASE, OPERATION <br /> AND MAINTENANCE OF THE ALASKA SEALIFE CENTER" WITH THE <br /> SEWARD ASSOCIATION FOR THE ADVANCEMENT OF MARINE <br /> SCIENCE <br /> WHEREAS, in 2006 the City of Seward ( "City ") and the Seward Association for the <br /> Advancement of Marine Science ( "SAAMS ") entered into an Amended and Restated Agreement for <br /> Lease of Tract 2A, Waterfront Tracts, and Adjacent Tidelands, and the Lease, Operation and <br /> Maintenance of the Alaska SeaLife Center (the "SAAMS AGREEMENT "); and <br /> WHEREAS, the City and the State of Alaska Department of Fish and Game are parties to a <br /> Cooperative Agreement for the Construction, Operation, and Maintenance of Research Infrastructure <br /> Improvements at the Alaska SeaLife Center, in Seward, Alaska executed in April 1995, as amended <br /> (the "Cooperative Agreement "); and <br /> WHEREAS, the City and SAAMS intended to transfer all of the obligations of the City <br /> under the Cooperative Agreement and the EVOS Trustee Council Resolution adopted November 2, <br /> 1994 to SAAMS; and <br /> WHEREAS, the City has an obligation under the Cooperative Agreement to own, operate, <br /> and maintain the Alaska SeaLife Center for the practical life of the facility, and the practical life of <br /> the facility ends upon the occurrence of both of the following: (i) the City makes a reasonable <br /> determination, as verified by an independent financial consultant selected or approved by ADF &G, <br /> that the facility is not capable of generating revenues sufficient to cover the operating expenses and <br /> debt service of the facility, and (ii) while being operated in accordance with any recommendation <br /> from the independent financial consultant and in accordance with terms and conditions of the <br /> agreement during the two -year period following the City's determination, the facility does not <br /> generate revenues sufficient to cover the operating expenses and debt service of the facility, plus <br /> fund sufficient reserves for repairs and replacements in the facility; and <br /> WHEREAS, if the City elects not to operate the facility, either because it has reached the end <br /> of its useful life or for any other reason, the City is obligated to continue operating the SeaLife <br />