HomeMy WebLinkAboutReso 1998-19028 RESOLUTION NO. 19028
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA AMENDING SECTION 2.2.2 OF THE AGREEMENT
REGARDING THE DEVELOPMENT AND OPERATION OF
WHITEWATER CANYON WATER PARK
WHEREAS, on July 23, 1996, the Council adopted Resolution 18382 approving an
Agreement Regarding the Development and Operation of Whitewater Canyon Water Park
(Water Park); and
WHEREAS, staff is recommending an amendment to the Agreement requiring the
Water Park to remit the City's portion of shared revenue on a quarterly basis as opposed to
the currently required annual basis; and
WHEREAS, Water Park management concurs with the recommendation.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does
hereby approve an amendment to Section 2.2.2 of the Agreement regarding the Development
and Operation of Whitewater Canyon Water Park such that such Section shall read as follows:
Section 2.2.2. Developer shall submit to City on or before April 15, July 15, and
October 15 of each calendar year, a report estimating the portion of the City's Share
of Project Revenues that is payable to City with respect to the preceding calendar
quarter. Said report shall be accompanied by a payment in the amount of the
estimated City Share of Project Revenues. On or before December 31 of each calendar
year, Developer shall submit to City a written statement certified by a financial officer
of the Developer showing in reasonable detail the gross cash receipts derived from
Project operations at the Project Site for the preceding calendar year and the
calculation of the City share of Project Revenues based thereon. Said certified
statement shall be accompanied by a payment in the total amount of the City Share
of Project Revenues for the preceding calendar year, reduced by the quarterly
payments previously remitted for that year. In the event that the Developer fails to
remit either a quarterly or annual payment of the City Share of Project Revenues by the
dates listed herein, in addition to the City Share of Project Revenues then due,
Developer shall be obligated to pay a penalty equal to five percent (5%) of such
amount plus interest on such amount at the rate of six percent (6%) per annum until
paid.
BE IT FURTHER RESOLVED that staff is instructed to prepare the appropriate
amendment and obtain all necessary signatures thereto.
Presented by Approved as to form by
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Resolution 19028
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 9th day of June, 1998, by the following vote:
AYES: Councilmembers: Moot, Padilia, Rindone, Salas and Horton
NAYES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
ATTEST:
~Authelet, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of Chula Vista, California, do hereby certify that the
foregoing Resolution No. 19028 was duly passed, approved, and adopted by the City Council
at a regular meeting of the Chula Vista City Council held on the 9th day of June, 1998.
Executed this 9th day of June, 1998.
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