12/23/2003 Resolutions 2003-364
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RES 0 L UTI 0 N 2003-364
WHEREAS, the City of Grand Island leases property at and near 1111 West North
Front Street from Union Pacific Railroad Company in which the Street and Transportation and Fleet
Services facilities are located; and
WHEREAS, the payments on the lease have been made on an annual basis and
include an escalator clause; and
WHEREAS, Union Pacific Railroad Company has proposed a 20-year lease for the
same property for a one-time cost of$75,822.00; and
WHEREAS, the City would realize a substantial cost savings with the 20-year lease
agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Lease of Property by and between the City
of Grand Island, Nebraska and the Union Pacific Railroad Company, a corporation, for use of
railroad property at and near 1111 West North Front Street for Street and Transportation and Fleet
Services (Shop) facilities is hereby approved; and the Mayor is hereby authorized and directed to
execute such agreement on behalf of the City of Grand Island.
Adopted by the City Council ofthe City of Grand Island, Nebraska, December 23,2003.
QS\o.L ruw~
RaNae Edwards, City Clerk
Approved as to Form II
December 18, 2003 II City Attorney