HomeMy Public PortalAbout004-2004 - Assignment of Lease to AmcaseR/CHMOND POWER & LIGHT
RESOLUTION 4-2004
A RESOLUTION AUTHORIZING THE GENERAL MANAGER TO APPROVE
AN ASSIGNMENT OF LEASE
WHEREAS,
WHEREAS,
WHEREAS,
Richmond Power and Light ("RP&L") and Amcast Industrial Corporation
("Amcast") entered into a lease agreement, dated August 31, 1992,
whereby RP&L agreed to lease certain real property to Amcast for the
purpose of allowing Amcast to construct a manufacturing facility and
conduct industrial operations on the property; and
Amcast has previously contacted representatives of RP&L and expressed
an interest in assigning, at some future date, its rights under the lease to
another entity, which will conduct similar operations on the property; and
RP&L must approve any assignment of Amcast's rights under the lease;
and
WHEREAS,
Such assignment may need to be effectuated on an expedited basis, prior to
the time needed to conduct a meeting of the RP&L Board of Directors; and
WHEREAS, In order to effectuate the assignment on an expedited basis, if necessary,
the General Manager of RP&L should be authorized to approve any
assignment, provided, that any document authorizing such assignment is
reviewed by the City Attorney prior to execution.
NOW, THEREFORE BE IT RESOLVED THAT:
Through December 31, 2004, the General Manager of RP&L is authorized to
approve, in his sole and subjective discretion, any assignment of the interest
maintained by Amcast under its lease with RP&L. After December 31, 2004, this
authorization expires.
Passed and adopted this
of the City of Richmond, Indiana.
Through December 31, 2004, the General Manager is further authorized to execute
any documents necessary to authorize such assignment, provided that such
documents are reviewed by the City Attorney prior to execution. After December
31, 2004, this authorization expires.
_ day of rS~%f 2004, by the Common Council
.- _, President