HomeMy Public PortalAboutOrdinance 15209 - Oakley LeaseORDINANCE NO. 15209
AN ORDINANCE, authorizing the Executive Director and Secretary-
Treasurer on behalf of The Metropolitan St. Louis Sewer District to enter into a Lease
Assignment with Bruce Oakley, Inc. and Lange-Stegmann Company to govern their
relationship after the transfer of the rights, duties and obligations of Lange-Stegmann
Company to Bruce Oakley, Inc.
WHEREAS, said real property owned by the District, known and
numbered as #1 Angelica Street, in the City of St. Louis, Missouri, was previously leased
to the Lange-Stegmann Company for the purpose of receiving, handling, bagging, storing
and shipping fertilizer, and
WHEREAS, the lease with the Lange-Stegmann Company, as amended
from time to time, was authorized by Ordinance No. 4131, adopted August 27, 1980 and
allows the Lessee to assign their lease with written consent from MSD of which MSD
will not unreasonably withhold, and
WHEREAS, Bruce Oakley, Inc. is purchasing substantially all of the
assets of Lange-Stegmann Company and its wholly-owned subsidiaries and is assuming
Lange-Stegmann Company’s obligations to MSD under the current lease and will
continue to use the property for the same purpose of receiving, handling, bagging, storing
and shipping fertilizer, and
WHEREAS, Bruce Oakley, Inc. has expressed interest in buying the
parcels of property owned by MSD that border Angelica Street.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF
TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The Executive Director and Secretary-Treasurer on behalf
of The Metropolitan St. Louis Sewer District are hereby authorized to enter into a Lease
Assignment with Bruce Oakley, Inc. and Lange-Stegmann Company to govern their
relationship after the transfer of the rights, duties and obligations of Lange-Stegmann
Company to Bruce Oakley, Inc.
Section Two. The Lease Assignment authorized in Section One of this
Ordinance shall be comprised of such terms and conditions as are approved by the Office
of the General Counsel of the District.
Section Three. At such time deemed appropriate, the Executive Director
and Secretary-Treasurer on behalf of The Metropolitan St. Louis Sewer District are
hereby authorized to execute a new amendment to the Lease Agreement with Bruce
Oakley, Inc. so long as the general terms and conditions are consistent with the assigned
lease.
The foregoing Ordinance was adopted on April 11, 2019.