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Sponsored by: Hunt <br /> CITY OF SEWARD,ALASKA <br /> RESOLUTION 2017-015 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA, AUTHORIZING THE CITY MANAGER TO ENTER INTO A <br /> "THIRD 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 2009 the City of Seward ("City") and the Seward Association for the <br /> Advancement of Marine Science ("SAAMS") entered into an Second Amended and Restated <br /> Agreement for Lease of Tract 2A, Waterfront Tracts, and Adjacent Tidelands, and the Lease, <br /> Operation and 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 /> Center for one year while ADF&G determines whether to exercise its option to assume operation of <br /> the SeaLife Center;and <br /> WHEREAS, with the understanding that SAAMS would continue to operate the SeaLife <br /> Center during the one-year period in which ADF&G may exercise its option, and based on <br />