RES 73151 - Laserfiche WebLink

a ruling from the Internal Revenue Service which will result in a reductionof the interest rate on a promissory note between the City of Pleasanton Public Facilities Corporation and First National Bank of Pleasanton and Security Pacific Bank from 9.5% to 5.2% and hereby ratifies the reduction of said interest rate. SectiOn 2. The Council agrees to an amendment to section 3(a) of the facility lease between City of Pleasanton and City of Pleasanton Public Facilities Corporation executed on July 1, 1973, said amendment to read as follows: (a) Base Rental. The City shall pay monthly to the Corporation as a base rental the amount of Two Thousand Might Hundred Fifty Eight,& 13/190 ($2,858.13} not later than the last day of each month, commencing on May 31, 1974, and continuing thereafter to and including April 30, 1984, or, if the term of this lease shall have been extended pursuant to section 2 hereof, .continuing to and including the date of termination of this lease. Each monthly payment of base rental shall be for the use of the Demised PremiSes and the Project for the month in which such rental is due. Section 3. This resolution shall become effective upon its passage and adoption. PASSED AND ADOPTED by the City Council of the City of Pleasanton at an adjourned regular meeting thereof held on the 17 day of Septe~er, 1973,.by the following called vote: AYES: Councilmen: Herlihy, Kinney, Mori, Reid and Mayor Pearson NOES: None ABSENT: None I hereby certify that the foregoing Resolution was APPR ED RM y an~_ Pleasanton, County of Alameda, State of California at an adjourned regular meeting of said Council held on September 17, lf13. William H. ~d;~,C~t -2-