R-92-1777 - 12/22/1992WHEREAS, Franklin Capital Corporation ( "Franklin ") and the City
of Round Rock ( "City ") on May 26, 1992, entered into that one certain
Franklin 582 Utility Cost Participation Agreement ( "Agreement "), and
WHEREAS, Franklin and City wish to amend the date of completion,
Now Therefore
ATTEST:
RS12222B
RESOLUTION NO. / 7 7 we,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
That the Mayor is hereby authorized and directed to execute on
behalf of the City the First Amendment To Franklin 582 Utility Cost
Participation Agreement, a copy of which is attached hereto as Exhibit
"A" and incorporated herein for all purposes.
RESOLVED this 22nd day of December, 1992.
NE LAND, Secretary
MIKE ROBINSON, Mayor
City of Round Rock, Texas
This First Amendment To Franklin 582 Utility Cost Participation
Agreement ("First Amendment ") is entered into effective as of December
22, 1992, by and between the City of Round Rock, Texas, a home rule
municipal corporation ( "City ") and Franklin Capital Corporation, a
Texas corporation ( "Franklin ").
Recitals
Whereas, Franklin and City on May 26, 1992, entered into that one
certain Franklin 582 Utility Cost Participation Agreement ( "Agree-
ment"), and
Whereas, Franklin and City wish to amend the date of completion
as provided below, Now Therefore
For and in consideration of Ten and No /100 Dollars ($10.00) and
other good and valuable consideration, City and Franklin do hereby
amend and modify the Agreement as follows:
I.
Paragraph 2.01 is deleted in its entirety and the following is
substituted therefor:
To the extent necessary to effect the terms and provisions of
this First Amendment, the Agreement is hereby amended. In all other
respects, the Agreement is hereby ratified and confirmed.
GFAF582
/177/C,
FIRST AMENDMENT TO FRANKLIN 582
UTILITY COST PARTICIPATION AGREEMENT
2.01. Franklin shall proceed with due diligence with the
construction of the Project, to be completed on or before
February 15, 1993.
II.
ATTEST:
0 11 ! 41 LIAM
o ne Land, City Secretary
2.
CITY OF ROUND ROCK, TEXAS
By:
Mike Robinson, Mayor
FRANKLIN CA PORATION
By:
Wi iam C. S een, President
Date: , 4,4m7 7, / 993
DATE: December 18, 1992
SUBJECT: City Council Meeting, December 22, 1992
ITEM: 9C. Consider a resolution authorizing the Mayor to enter into an
amendment extending the Franklin utility cost participation
agreement.
STAFF RESOURCE PERSON: Jim Nuse
STAFF RECOMMENDATION:
When the City and Franklin entered into the agreement regarding the cost participation
agreement for the offsite wastewater /effluent reuse line, it was anticipated that construction be
completed by December 31, 1992. Due to unforseen delays, the agreement needs to be extended
to February 15, 1993.
ECONOMIC IMPACT: None