Laserfiche WebLink
7 <br />3 <br />RESOLUTION NO. P- 2351 <br />RESOLUTION APPROVING LEASING AGREEMENT — WASTEWATER <br />TREATMENT CAPACITY RIGHTS - AND AUTHORIZING AND <br />DIRECTING EXECUTION THEREOF <br />(Sims Group USA Corporation) <br />WHEREAS, a leasing agreement entitled "Wastewater Treatment Capacity <br />Rights" (the "Capacity Lease') by and between the Port of Redwood City, by and <br />through its Board of Port Commissioners (the "Port") and an existing tenant at the Port <br />of Redwood City, Sims Group USA Corporation dba Sims Metal Management, a <br />Delaware Corporation ("Sims Metal"), for the leasing by Port to Sims Metal of <br />wastewater treatment capacity rights has been presented to the Board of Port <br />Commissioners for approval; and <br />WHEREAS, the effective date of the Capacity Lease (the "Operative Date") shall <br />be February 11, 2017, and <br />WHEREAS, the term of the Capacity Lease is for a period of Two (2) years <br />commencing upon the Operative Date and ending February 10, 2019. This Capacity <br />Lease shall automatically terminate upon the termination of the Lease Agreement <br />between Port and Sims Metal dated October 1, 1995; and <br />WHEREAS, Sims Metal shall pay the Port as rental for the leased capacity <br />during the Term of the Capacity Lease the amount of $0.006 per gallon; the minimum <br />annual guaranteed amount due shall be Seven Thousand Two Hundred and No/100 <br />Dollars ($7,200.00) per lease year; and <br />WHEREAS, the leased wastewater capacity shall be used by Sims Metal for the <br />discharge of stormwater and other water emanating from Lessee's operation of <br />Reso 249 <br />03/01/17 <br />FXS <br />