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CITY OF SEWARD, ALASKA <br /> RESOLUTION 2009 -137 <br /> January 2009 amendment (Section 3.11.3; 4) Changed the construction bonding requirement to <br /> projects where bonding is required by State Law or for construction requiring the City's approval <br /> under the Lease (Section 4.2.2); 5) Changed the Notice of Completion requirement to work <br /> exceeding $100,000 rather than for all construction regardless of price (Section 4.3.3); <br /> 6) Revised the definition of "major repairs and replacements" to mean a discrete repair expenditure <br /> greater than $50,000, or any repair or maintenance project that is outside the scope of the annual <br /> operating budget or annual maintenance plan. The current Lease restricts the use of the repair and <br /> replacement fund to projects costing more than $50,000 or outside the scope of the annual <br /> maintenance plan. The annual maintenance plan is deleted (Section 5.5); and 7) Changed SAAMS' <br /> obligation to operate the Center for one -year following SAAMS' election not to operate from the <br /> standards required of the City in the Cooperative Agreement to a standard of "closed to public access <br /> and to any research activity (Section 5.6); and <br /> WHEREAS, in addition to removing the tidelands area from the SAAMS AGREEMENT <br /> which will reduce City revenues approximately $9K annually, the new Agreement allows SAAMS to <br /> access up to $500K of the Termination Fund as necessary for cash flow as long as the Termination <br /> Fund is fully restored on one day each year (September 30th); and <br /> himp <br /> WHEREAS, to the extent that SAAMS fails to maintain the Termination Fund and Renewal <br /> and Replacement Fund as required in the agreement, and in the event circumstances require the City <br /> to operate the Center until it is turned over to ADF &G, the City will be required to pay whatever <br /> costs are necessary to cover the costs of termination and to provide for major maintenance and <br /> repairs; and <br /> WHEREAS, the City Council has determined that it is in the public interest to enter into an <br /> amendment to the SAAMS AGREEMENT because of the public benefits provided by SAAMS to <br /> the Seward community. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF SEWARD, ALASKA, that: <br /> Section 1. For the reasons stated in the above recitals, which are incorporated herein by <br /> reference, it is in the public interest to enter into a "Second 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 ". <br /> Section 2. The City Manager is hereby authorized to enter into a second amendment in <br /> substantial form as presented at this meeting and incorporated herein by reference. <br />