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thereof, are hereby approved. The City Clerk is directed <br /> to file a.copy of said form of lease with the minutes of <br /> this meeting, and the Mayor and the City Clerk are authorized <br /> and directed to execute and deliver a lease in substantially <br /> said form. <br /> <br /> 5. The form of lease, dated asof July 1, 1973 <br /> and entitled "Facility Lease," from the corporation to the <br /> City, submitted to this City Council, and the terms and <br /> conditions thereof, are hereby approved~ The City Clerk <br /> is directed to file a copy of said form of lease with the <br /> minutes of this~meeting, and the Mayor and the City Clerk <br /> are authorized and directed to execute and deliver a lease <br /> in substantially said form. <br /> <br /> 6. The borrowing by the Corporation of $267,000 <br /> to finance the construction of the Project, to be evidenced <br /> <br />.by two promissor~ notes to be in substantially the forms sub- <br /> mitted to this~'City Council, to be repaid over a term of ap- <br /> proximately 10 years 9-1/2 months at an interest rate of <br /> <br /> 9.5% per year and tobe subject to a letter agreement between <br /> the Corporation and The First National Bank of Pleasanton <br /> to be in substantially the form submitted tothis meeting, <br /> is hereby approved. The City Clerk is directed to file copies <br /> of said forms of promissory notes and said form of letter <br /> agreement with the minutes of this meeting. <br /> <br /> 7. The gift to the City of the beneficial inter- <br /> est in the outstanding membership certificatesof the Cor- <br /> poration, upon such terms and conditions as shall be approved <br /> by the City Attorney, is hereby accepted, to be effective <br /> when made. <br /> <br /> 8. The form of construction contract providing <br /> for the construction of the Project to be entered into be- <br /> tween the Corporation and Newby Construction Company, sub- <br /> <br />4 <br /> <br /> <br />