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AI- 5890   4. A. 14.    
Commissioners Court - Regular
Meeting Date: 12/17/2014  
Road District IV - Martin Lease
Submitted By: Tyner Little, Commissioners Court Admin
Department: Commissioners Court Admin  

Information
RECOMMENDATION
Adopt a Resolution designating approximately 7 (seven) acres of Road District IV property as no longer used for Road District purposes; and discuss and consider approval of Lease Agreement with Martin Operating Partnership, LP, for lease of approximately 7 acres of Road District IV property on Harbor Island; and authorize execution by County Judge on behalf of Road District IV, and related matters.

Commissioners of Road District No. IV will adjourn.

Nueces County Commissioners Court will reconvene.
BACKGROUND
DISCUSSION
The current Martin Midstream lease will expire January 31, 2015. This is the Road District IV property located on Harbor Island. The proposed lease is for an initial five-year term plus four renewable five-year terms, or a maximum of twenty five (25) years. The initial annual lease rate is $103,200 payable in advance, with annual CPI adjustments thereafter.

Budget Information
Information about available funds
Budgeted: Funds Available: Adjustment: Amount Available:
Unbudgeted: Funds NOT Available: Amendment:
Account Code(s) for Available Funds
1:
Fund Transfers

Attachments
Resolution - Road District IV Property
Martin Lease
Exhibit A - Martin Lease

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