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- : 3 <br /> ORDINANCE NO P- zsz <br /> C�Op� <br /> ORDINANCE OF THE BOARD OF PORT COMMISSIONERS OF THE CITY OF <br /> REDWOOD CITY APPROVING AND AUTHORIZING EXECUTION OF LEASE <br /> AGREEMENT WITH THE UNITED STATES OF AMERICA (Wharf 5) <br /> BE IT ORQAINED BY THE BOARD OF PORT COMMISSIONERS OF <br /> THE CITY OF REDWOOD CITY AS FOLLOWS <br /> Section 1 Public heanng having been duly noticed for and held on <br /> October 26 2011 on the question of approval of the l.ease Agreement <br /> hereinafter descnbed and pursuant to the prowsions of Section 48 the Charter <br /> of the City of ftedwood City the Board of Port Commissioners of the City of <br /> Redwood City does hereby approve that Lease Agreement (MP-30 the Lease <br /> Agreement ) by and between the City of Redwood City acting by and through its <br /> Board of Port Commissioners ("Lessor') and the United States of Amenca <br /> ( Lessee ) for the use of the wharF area known as Whart 5 at the Port of <br /> Redwood City within the City of Redwood City Califomia as more speafically <br /> defined in the Lease Agreement for the annual sum of Sixteen Thousand Froe <br /> Hundred Fifty and 04/100 Dollars ($16 550 04) which Lease Agreement <br /> provides for a term commencing on October 1 2011 and ending on September <br /> 30 2021 The Lease Agreement prowdes for penod annual tanff increases not to <br /> exceed 3% per year Each party may terminate the Lease Agreement upon a 90 <br /> wntten notice to the other party after September 30 2012 <br /> i <br /> ioos�i <br /> FXS <br />