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RESOLUTION NO. 32 SERIES 2015 A RESOLUTION APPROVING A PARKING LOT LEASE AGREEMENT BY AND BETWEEN THE CITY OF LOUISVILLE AND KOKOPLAZA PARTNERS, LLC. WHEREAS, the City of Louisville, Colorado (the "City ") is a home rule municipal corporation and the City Council of the City (the "Council ") desires to enter into a lease agreement for leasing of parking spaces on the premises located at 901 and 917 Front Street in Louisville; and WHEREAS, a Lease Agreement has been proposed between the City and Kokoplaza Partners, LLC, (the "Lessor ") setting forth the terms upon which the Lessor will lease the premises to the City for public parking; and WHEREAS, the Council hereby finds and determines that the execution of the proposed Lease Agreement is appropriate and necessary to the functions and operations of the City; and WHEREAS, the Lease Agreement does not include any option to purchase the leased premises; does not create a multiple - fiscal year obligation of the City, and is expressly subject to annual appropriation and a City right of termination in the event of non - appropriation; and WHEREAS, the Council desires to approve the Lease Agreement and authorize its execution. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: 1. The proposed Parking Lot Lease Agreement (the "Lease Agreement ") between the City of Louisville and Kokoplaza Partners, LLC for the lease of the parking spaces at 901 and 917 Front Street in Louisville is hereby approved in essentially the same form as the copy of such Lease Agreement accompanying this Resolution. 2. The Mayor is authorized to execute such Lease Agreement on behalf of the City, and is hereby further granted the authority to negotiate and approve such revisions to said Lease Agreement as the Mayor determines are necessary or desirable for the protection of the City, so long as the essential terms and conditions of the Lease Agreement are not altered. 3. The Mayor, City Manager and City Staff are further authorized to execute and deliver all documents necessary in connection with the leasing of the premises and to do all things necessary on behalf of the City to perform the obligations of the City under such Lease Agreement. 4. The City's payment obligations under the Lease Agreement are current expenditures of the City, payable in the fiscal year for which funds are appropriated for the payment thereof. The City's obligations under the Lease Agreement shall be from year to year only and shall not constitute a multiple - fiscal year direct or indirect debt or other financial obligation of the City Resolution No. 32, Series 2015 Page 1 of 2