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COPY <br /> due shall be Fifteen Thousand Six Hundred and No/100 Dollars ($15,600) per <br /> lease year during the Initial Term and the sum of Eighteen Thousand and <br /> No/100 Dollars ($18,000) per lease year during the Extended Term; and <br /> WHEREAS, the leased wastewater capacity shall be used for the <br /> treatment of wastewater emanating from Seaport's operation of facilities to treat <br /> mixtures of petroleum products and water; and <br /> WHEREAS, this Board of Commissioners desires to signify its approval <br /> thereof and authorize and direct the Port Executive Director to execute the <br /> Capacity Lease. <br /> NOW, THEREFORE; <br /> BE IT RESOLVED BY THE BOARD OF PORT COMMISSIONERS OF <br /> THE CITY OF REDWOOD CITY, AS FOLLOWS: <br /> 1. That certain agreement entitled, "Lease Agreement — Wastewater <br /> Treatment Capacity Rights" by and between the Port and Seaport, a copy of <br /> which document is on file in the o�ce of the Port Executive Director, is hereby <br /> approved subject to the approval of the Land Lease by this Board of Port <br /> Commissioners, <br /> 2. The Port Executive Director is hereby authorized and directed to <br /> execute said agreement upon approval of the Land Lease by this Board. <br /> * * * * * * * * <br /> RESO P-2302 <br /> FXS-fs <br /> Reso 234 <br /> 12/03/15 <br /> ����i�r�� <br />