HomeMy Public PortalAboutResolution No. 297-07 04-24-2007 • RESOLUTION NO. 29'~-07
A RESOLUTION OF THE CITY OF RICHLAND HILLS, TEXAS,
RATIFYING THE MAYOR'S CONSENT TO ASSIGN THE RIGHTS
PREVIOUSLY GRANTED BY LEASE TO FOUR SEVENS OIL COMPANY,
LTD. TO CHESAPEAKE EXPLORATION LIMITED PARTNERSHIP; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Richland Hills is a home rule city acting under its charter adopted
by the electorate pursuant to Article XI, Section 5 of the Texas Constitution and Chapter 9 of the
Local Government Code; and
WHEREAS, the City previously entered into a lease with Four Sevens Oil Company, Ltd.
leasing certain property owned by the City for the exploration and drilling of oil, gas and other
minerals; and
WHEREAS, Four Sevens Oil Company Ltd. has requested that the City consent to an
assignment of such lease from Four Sevens Oil Company, Ltd. to Chesapeake Exploration Limited
Partnership; and
WHEREAS, the Mayor has previously executed the requested assignment on behalf of the
City, and has requested that the City Council ratify and approve such action, in order to facilitate
• exploration and drilling activities which will bring needed revenue to the City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
RICHLAND HILLS, TEXAS:
SECTION 1.
AUTHORIZATION FOR ASSIGNMENT
The Mayor's action consenting to the assignment of the oil, gas and mineral lease interest
held by Four Sevens Oil Company, Ltd. to Chesapeake Exploration Limited Partnership pursuant
to the lease agreement previously executed by the City and approved by the City Council, a copy
of which consent is attached hereto as Exhibit A, is hereby ratified and approved, and adopted as
the action of the City Council.
SECTION 2.
EFFECTIVE DATE
This Resolution shall be effective upon its adoption.
•
• Passed and adopted this 0~~-~11~, day of _ , 2007.
CITY CHLA D HIL , TE AS
4
W
he Honorable David L. Ra ,Mayor
ATTEST:
,`'~-T!`-~'~ 1111111111111 ~
inda ante, Ci Secretary \\\~~~`G~~,~=.ND y~~
APPROVE AS O FORM D LEGALITY: ~ p~ : ~ I J?
v ~ y=
Tim G. Sralla, City Attorney
//11111111\11
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RESOLUTION AUTHORIZING MAYOR TO CONSENT TO ASSIGNMENT Page 2
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