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Sponsored by: Oates <br />CTTY OF SEWARD, ALASKA <br />RESOLUTION 2009-006 <br />A RESOLUTION OF THE CITY COUNCIL. OF THE CITY OF SEWARD, <br />ALASKA, AUTHORIZING THF. CITY MANAGER TO ENTER INTO AN <br />AMENDMENT TO THE AMENDF,D AND RESTATED AGREEMENT FOR <br />LEASE OF TRACT 2A, Wr1TERFRONT TRACTS, AND ADJACENT <br />TIDELANDS, AND THE LEASE, OPERA"TION AND MAINTENANCE OF <br />THE ALASKA SEALIFF, CENTER WITH 'THE SEWARD ASSOCIATION <br />FOR THE AllVANCEMENT OF MARINE SCIENCE, DB/A ALASKA <br />SEALIFE CENTER <br />WHEREAS, in ?006 the City of Seward ("City") and the Seward Association for the <br />Advancement of Marine Science, d/b/a Alaska SeaLife Center ("SAAMS°') entered into an Amended <br />and Restated Agreement for Lease of Tract 2A, Waterfront Tracts, and Adjacent Tidelands, and the <br />Lease, Operation and Maintenance of the Alaska SeaLife Center (the "Lease"); and <br />WHEREAS, the City and the Stale of Alaska Department of Fish and Game are parties to a <br />Cooperative Agreement for the Construction, Operation, and Maintenance ofResearch InGastructure <br />Improvements at the Alaska SeaLife Center, in Seward, Alaska executed in April l 995, 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 IJVOS 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 Zile 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 tenus and conditions of the <br />agreetncnt 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 />WHF,REAS, if the City elects not to operate the facility, either because it has reached the <br />end of its useful life or for any other reason, the City is obligated to continue operating the Sealife <br />Ceutcr Ivor one year while ADF&G determines whether to exercise its option to enter and assume <br />operation oCthe Sealife Center; and <br />