HomeMy WebLinkAboutResolution - 4328 - Clarifying Construction Of Term - BRA - Mineral Lease Hold Interest, 8_1_89 - 11_18_1993Resolution No. 4328
November 18, 1993
Item #17
RESOLUTION
WHEREAS, the Brazos River Authority did enter into an agreement with
the City of Lubbock on the llth day of May, 1989, for the construction,
operation and management of Lake Alan Henry; and
WHEREAS, the Brazos River Authority and the City of Lubbock did enter
into Amendment No. 1 to said contract dated the 27th day of February, 1992,
wherein the Brazos River Authority was given authority to obtain
subordination and facility acquisition of mineral interests; and
WHEREAS, the City of Lubbock and Brazos River Authority did enter
into Amendment No. 2 on the 28th day of May, 1992, wherein the Brazos River
Authority was given approval to acquire the fee title of mineral interests
when such fee title was required; and
WHEREAS, the Brazos River Authority has asked for clarification as to
the intent of the two amendments as they apply to and concern the
acquisition of mineral leasehold interests; and
WHEREAS, the City of Lubbock is desirous of clarifying its
understanding of the two provisions; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK THAT THE
ACQUISITION BY THE BRAZOS RIVER AUTHORITY OF MINERAL LEASEHOLD INTERESTS,
BEING LESS THAN FEE ACQUISITION, SHALL FOR THE PURPOSES OF THE AGREEMENT
AND THE AMENDMENTS ABOVE RECITED BE CONSIDERED A SUBORDINATION IN
ACCORDANCE WITH THE PROVISIONS OF AMENDMENT NO. 1 TO THE ABOVE MENTIONED
CONTRACT.
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK THAT IT
INTERPRETS THE ACQUISITION OF ANY MINERAL INTEREST LESS THAN FEE
ACQUISITION TO BE COVERED BY AMENDrth
AND TO BE A SUBORDINATION OF
MINERAL INTERESTS.
Passed by the City Council this 1� ovemb
ATTEST:
BettyuM: Johngon, City Secretary
AP OVED AS TO CONTENT:
(i
o ass, City Manager
A�PROVED AS TTO� FORM:
John C. Ross, Jr., City Attorney
JCR:da/ccdocs/A-BRA.res
November 10, 1993