HomeMy WebLinkAboutResolutions - No. 91-211RESOLUTION NO. 91-211
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A RESOLUTION OF THE LODI CITY COUNCIL
APPROVING THE PURCHASE AND INSTALLATION OF NEW MIRACLE
PLAYGROUND EQUIPMENT AT LODI LAKE PARK (NORTH) YOUTH PLAYGROUND AREA
BY THE KIWANIS CLUB OF GREATER LODI
AND APPROVING A LOAN TO KIWANIS FOR SAID PURCHASE AND INSTALLATION
RESOLVED, that the Lodi City Council hereby approves the purchase
and installation by the Kiwanis Club of Greater Lodi of new Miracle
playground equipment at Lodi Lake Park (North) youth playground area;
and
FURTHER RESOLVED, Council hereby approves a loan of $7,500 to
Kiwanis Club of Greater Lodi from the Lodi Lake Enterprise Account
122-6500 toward the purchase of said playground equipment, all as set
forth in a payback Agreement to be entered into between the City of
Lodi and Kiwanis Club of Greater Lodi, attached hereto as Exhibit A.
Dated: November 20, 1991
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I hereby certify that Resolution No. 91-211 was passed and
adopted by the City Council of the City of Lodi in a regular meeting
held November 20, 1991 by the following vote:
Ayes: Council Members - Hinchman, Pennino, Sieglock, Snider
and Pinkerton (Mayor)
Noes: Council Members - None
Absent: Council Members - None
Alice M. Reimche
City Clerk
91-211
RES91211/TXTA.02J
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AGREEMENT
PURCHASE AND INSTALLATION OF MIRACLE PLAYGROUND EQUIPMENT
AT LODI LAKE PARK (NORTH) YOUTH PLAYGROUND AREA
AND LOAN TO KIWANIS CLUB OF GREATER LODI TO PROVIDE FOR SAME
THIS AGREEMENT, entered into this 20th day of November, 1991, by and
between the CITY OF LODI, a municipal corporation ("City"), and KIWANIS
CLUB OF GREATER LODI ("Club").
WITNESSETH:
WHEREAS, at its November 20, 1991 meeting, the Lodi City Council
approved the purchase and installation of new Miracle playground equipment
at Lodi Lake Park (North) youth playground area; and
WHEREAS, Club, as a service to the community, has expressed its desire
to provide for the purchase and installation of said playground equipment
for a total project amount of $9,000, subject to the following terms and
conditions:
1) Upon the acceptance of the project, Club will present to City a
check in the amount of $1,500 as upfront money.
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2) Club requests a loan from the City in the amount of $7,500 to
provide for balance of funding _for said playground equipment, to be
repaid to City over a period of four years, or shorter at the option
of Club.
3) Club's repayment amounts of said loan shall be dependent upon
Club's continued revenues from its fundraising activities at the
annual July boat races at Lodi Lake Park. Should Club's anticipated
revenues from that source fail to materialize because of the
discontinuance for any unforeseen reason of the annual boat races,
Club's obligation to City shall reflect smaller payments to the City
until Club can replace such fundraising revenues.
WHEREAS, the Lodi Parks and Recreation Commission and the Lodi City
Council have expressed their support, and have accepted the Club's proposal
to provide for said equipment; and
WHEREAS, the Council did at its November 20, 1991 meeting authorize a
$7,500 loan to Club;
NOW, THEREFORE, IT IS AGREED BY THE PARTIES HERETO AS FOLLOWS:
A. City hereby agrees to loan to Club the sum of $7,500, interest free,
under the terms and conditions outlined above, to be appropriated from the
City's Lodi Lake Enterprise Account 122-6500.
AGRPARK2/TXTA.OIV
B. Club hereby accepts full responsibility for the repayment of said
$7,500 loan. Annual payments totalling $2,000 more or less shall be made
until $7,500 is paid in full. Final payment shall be made on or before
November 19, 1995 unless conditions as outlined in Paragraph 3 above shall
dictate that Club be allowed additional time to fulfill its obligation to
repay City, wherein the final payment date shall be extended by mutual
agreement.
C. All payment checks shall be made payable to the "City of Lodi", and
sent to the City of Lodi Finance Department, Attention Collections, 221
West Pine Street, Lodi, California 95240.
CITY OF LODI, KIWANIS CLUB OF GREATER LODI
a municipal corporation
TH MAS A. PETERSON
City Manager
Dated: 11--w 41
ATTEST:
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ALICE M. REIMCHE
City Clerk
Approved As To Form:
BOB W. McNATT
City Attorney
AGRPARK2/TXTA.OIV
Dated: Zt-I-), -71