HomeMy Public PortalAbout01668 O R D I N A N C E NO. 1668
AN ORDINANCE authorizing and directing the Executive
Director to lease certain real property of The Metropolitan St.
Louis Sewer District, lying in the City of St. Louis, Missouri, to
the Olin Mathieson Chemical Corporation and to execute a leasehold
agreement upon the conditions hereinafter set out.
WHEREAS, The Metropolitan St. Louis Sewer District,
hereinafter called Lessor, has acquired certain improved real
property in the City of St. Louis incident to its public functions
and responsibilities, said property being for anticipated future
expansion of existing facilities and located in City Block 2509 of
the City of St. Louis, and
WHEREAS, Olin Mathieson Chemical Corporation,
hereinafter called Lessee, is desirous of leasing from Lessor a
portion of said improved real property on terms and conditions as
hereafter generally set forth, and Lessor is willing so to lease
and believes the terms to be advantageous and in the public
interest so to do,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The Metropolitan St. Louis Sewer District
does hereby lease to the Olin Mathieson Chemical Corporation, upon
the general terms and conditions hereinafter set forth, the
following described real property:
A tract of land in City Block 2509 of the City of St. Louis,
beginning at a point in the North line of Angelica
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Street, said point being 1234 feet, 9-1/2 inches east
of the intersection of said North line with the East
line of Hall Street, thence Northwardly at right angles
to Angelica Street 226.50 feet to a point, thence
Westwardly 208.89 feet along a line parallel with and
226.50 feet north of the North line of Angelica Street
to a point, thence Southwardly along a line
perpendicular to the north line of Angelica Street a
distance of 226.50 feet, to a point in the North line
of Angelica Street, thence Eastwardly along the North
line of Angelica Street 208.89 feet to the point of
beginning, together with all improvements thereon.
Section Two. The lease term shall commence on October
15, 1967, and continue for five (5) years to October 14, 1972, at
the rental of Two Hundred Seventy-five Dollars ($275.00) per
month, subject, however, to the right of termination by Lessor
upon giving 90 days' notice that Lessor requires the use of the
leased premises for construction of a secondary sewage treatment
plant for use in connection with the Bissell Point Sewage Plant of
Lessor, now under construction.
Section Three. Lessee is granted an option to renew
its lease for an additional term of five (5) years upon the same
terms and conditions as herein specified, provided, however, that
if Lessor should receive, before commencement of the option term
(if said option be exercised), from any other firm or person a
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bona fide offer to lease the above described premises for a higher
rental or upon terms more advantageous to Lessor than those of
this lease, then Lessee shall be given notice of such and shall
have the right and option to meet such terms or terminate the
lease.
Lessee shall be granted a second and a third five year
term under the same or similar conditions as the first five year
term.
Section Four. Should Lessor, at any time during the
term of the lease or any extension thereof, receive an offer to
purchase subject real property and desire to accept such offer,
then Lessee shall be given the first option to purchase such
premises upon the same terms, said Lessee being given reasonable
notice of such offer and adequate time to exercise such option.
Section Five. The Executive Director is hereby
authorized and directed to execute in behalf of the District a
Lease giving effect to Sections One, Two, Three and Four hereof
and embodying such general terms and conditions.
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The foregoing Ordinance was adopted October 11, 1967.