HomeMy WebLinkAboutResolution No. 573-14 573-14 E2
•
RESOLUTION
BE IT RESOLVED by the Common Council of the City of Rochester that the City approve
of and execute a lease agreement amendment with the Mayo Foundation to remove the fifth
floor from the Foundation's lease concerning the Minnesota BioBusiness Center.
BE IT FURTHER RESOLVED that the City approve of the $2.9 million in funding from the
parking enterprise fund and the establishment of the escrow account to defease the bonds for
the fifth floor when they become callable in 2018.
The Mayor and City Clerk are authorized to execute the agreement on behalf of the City.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS 15th DAY OF DECEMBER , 2014.
PRESI ENT SAID COMMON COUNCIL
ATTEST: , fir.
CITY CLERK
APPROVED THIS 16th DAY OF DECEMBER ,2014.
MAYOR OF SAID CITY
CNY.57ER•MI,Y
pUQArFU.AUC USt S.
�es10\ExecuteAgr\368