ENACTED 05/18/1999

ORDINANCE NO. O99-1592

An ordinance accepting an assignment of a lease from the Port Authority of The Metropolitan Government of Nashville and Davidson County to The Metropolitan Government of Nashville and Davidson County for the benefit of the Mayor's Office of Economic Development.

WHEREAS, the Metropolitan Port Authority entered into a lease agreement, dated July 21, 1997 (the "Lease"), pursuant to T.C.A. 7-5-101 et seq., with Stephen K. Rush and Phillip V. Rush, d/b/a 117 Union Street, Ltd. ("117 Union Street, Ltd."), for the Metropolitan Port Authority's offices (the Premises); and

WHEREAS, the Mayor's Office of Economic Development presently has office space in the Premises, but is not a party to the Lease; and

WHEREAS, the Metropolitan Port Authority Board has decided to dissolve the Port Authority and wind up its affairs; and

WHEREAS, the Metropolitan Port Authority Board desires to assign the Lease to The Metropolitan Government of Nashville and Davidson County for the benefit of the Mayor's Office of Economic Development (the "Assignment"); and

WHEREAS, 117 Union Street, Ltd., has consented to the Assignment to the Mayor's Office of Economic Development, which is attached hereto as Exhibit 1.

NOW THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

SECTION 1: That The Metropolitan Government of Nashville and Davidson County accepts the Assignment of the Lease from the Metropolitan Port Authority for the benefit of the Mayor's Office of Economic Development, which is attached hereto as Exhibit 2.

SECTION 2: That this Ordinance shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored By: Leo Waters & Stewart Clifton

LEGISLATIVE HISTORY

Introduced: April 6, 1999
Passed First Reading: April 6, 1999
Referred to: Budget & Finance Committee
Planning & Zoning Committee
Passed Second Reading: April 20, 1999
Passed Third Reading: May 18, 1999
Approved: May 24, 1999
By: mayor.gif (527 bytes)