HomeMy WebLinkAboutRes1977-049
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11/10/77
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 77-49
A RESOLUTION PERMITTING AMENDMENT OF LEASES
OF LOTS 11, 12, 13 & 14 OF THE SEWARD
INDUSTRIAL PARK
WHEREAS, City of Seward, Alaska, did lease Lot 10 of the Seward Industrial
Park to Seward Fisheries (a joint venture composed of Petersburg Fisheries, Inc.,
and Viking Seafood Company, herein called "Seward Fisheries") or its predecessor in
interest by City Council Resolution #769 adopted on the 10th day of November, 1969,
and
WHEREAS, in later rezoning and replating the area, the former Lot 10 was
added to and made a part of Lot 11 of the Seward Industrial Park, and
WHEREAS, the City of Seward, Alaska, did lease Lot 12 of the Seward Industrial
Park to Seward Fisheries or its predecessor in interest by City Council Resolutions
#754 and 755 adopted on the 25th day of August 1969, and
WHEREAS, the City of Seward did lease Lots 13 and 14 of the Seward Industrial
Park to Seward Fisheries or its predecessor in interest by Ordinance #397 adopted the
14th day of January, 1974, and
WHEREAS, the leases presently covering Lots 11, 12, 13 & 14 of the Seward
Industrial Park allows assignment by Seward Fisheries of its lease hold interest to
a lender only for the purpose of securing a loan for construction of facilities on the
lease premises, and
WHEREAS, Seward Fisheries has arranged for a loan for operating purposes
not connected with construction on the lease premises and will be required by the
lender to assign the said leases to secure that loan, and
WHEREAS, the City Council has no objection to this particular form of
assignment
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, THAT: the Leases on Lots 11, 12, 13 & 14 of the Seward Industrial Park be
amended by adding to end of the second paragraph of Section 9 thereof the following terms:
The lessee may assign the lease to secure
other loans not connected with such con-
struction when the City Council by resolution
consents to such assignment for a particular
loan. The City further agrees to be bound by
and observe all notice provisions of paragraph
9 (a), (b) and (c) with respect to lenders for
whom such assignments are approved by City
Council resolution.
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BE IT FURTHER RESOLVED THAT THE CITY COUNCIL DOES HEREBY EXERCISE ITS
POWER TO CONSENT TO THE ASSIGNMENT BY SEWARD FISHERIES OF ITS INTEREST IN LEASES
COVERING LOTS 11, 12, 13 & 14 of Seward Industrial Park to Seattle-First National
Bank for security on loans presently negotiated with said bank in the amount not
to exceed nine million dollars ($9,000,000).
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA,
this 14th day of November ,1977.
CITY OF
AYES: CAMPBELL, GILLESPIE, HUGLI, LEER, MOTT, POTTS AND VINCENT
NOES: NONE
ABSENT: NONE
ATTEST: APPROVED AS TO FORM:
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J Anne E. Shanley
City Clerk-Treasurer
HUGHES, THORSNESS, GANTZ, POWELL & BRUNDIN
Attorneys for the City of Seward
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Rana1d H. Jarr 1
(City Seal)