ORDINANCE NO. BL2002-1210
An ordinance approving a lease agreement between The Northwestern Mutual Life Insurance Company and The Metropolitan Government of Nashville and Davidson County for certain real property located at 501 Great Circle Road, Nashville, Tennessee, 37228, commonly known as First Image Building, for use as temporary space for the courts and related services (Proposal No. 2002M-098U-08).
WHEREAS, The Northwestern Mutual Life Insurance Company (“Northwestern”) owns certain real property (the “Property”) located at 501 Great Circle Road, Nashville, TN 37228, commonly known as First Image Building; and
WHEREAS, pursuant to the terms of the agreement (the “Agreement”) attached to this ordinance as Exhibit A and incorporated by reference, The Northwestern Mutual Life Insurance Company proposes to lease the Property to the Metropolitan Government for rental in the amount not to exceed $1,980,577.50 for a term beginning on April 1, 2003, and ending on March 31, 2006, with the option to extend for two (2) additional years; and
WHEREAS, the Metropolitan Government has determined that the Property is needed to provide temporary space for the Courts and related services; and
WHEREAS, the Director of Public Property Administration is authorized to lease real property, subject to the approval of the Metropolitan County Council and Mayor.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The Agreement (Exhibit A) between The Northwestern Mutual Life Insurance Company and The Metropolitan Government of Nashville and Davidson County is hereby approved.
Section 2. The
rent shall be paid out of the Capital Improvement Budget.
Section 3. That any amendments to this Agreement shall be approved by resolution of the Metropolitan Council receiving twenty-one affirmative votes.
Section 4. 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: Craig Jenkins
ORDINANCE NO. BL2002-1210
I move to amend Ordinance No. BL2002-1210 by deleting
Section 2 and substituting the following:
“The rent shall be paid from the funds in the unappropriated fund balance of the General Fund of the General Services District which were appropriated by RS2002-1181.”
Sponsored by: Craig
Amendment Adopted: October 15, 2002
|Introduced:||October 1, 2002|
|Passed First Reading:||October 1, 2002|
Commission - Approved 7-0 (10/10/02)
Budget & Finance Committee
Planning & Zoning Committee
|Passed Second Reading:||October 15, 2002|
|Passed Third Reading:||November 19, 2002|
|Approved:||November 20, 2002|