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HomeMy WebLinkAboutRes 38-18 12/04/2018 Authorizing Payment to the Mount Prospect Public Library - Ground Lease AgreementRESOLUTION NO. 38-18 A RESOLUTION AUTHORIZING PAYMENT TO THE MOUNT PROSPECT PUBLIC LIBRARY UNDER THE TERMS OF A GROUND LEASE. AGREEMENT WHEREAS, on November 6, 2002, the Village of Mount Prospect ("the Village") and the Mount Prospect Public Library ("the Library") entered into a Ground Lease Agreement (the "Lease") providing, among other things, for the Village to lease certain property ("Property") from the Library; and WHEREAS, the Village has caused its attorney and staff to review the terms of the Lease and the current status of the Property and its usage; and WHEREAS, the attorney and staff have reported that both the Village and the Library are in substantial compliance with all material terms of the Lease; and WHEREAS, the Mayor and Board of Trustees have determined that it is in the best interests of the Village and its residents to assure that there is continued compliance with the Lease. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: That the parties are in substantial compliance with all material terms of the Lease SECTION TWO: That the Mayor and Board of Trustees authorize the Village Director of Finance to pay the Library such sums as are due pursuant to the Lease. SECTION THREE: That this Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: Grossi, Hatzis, Hoefert, Rogers, Saccotelli, Zadel NAYS: None ABSENT: None PASSED and APPROVED this 4th day of December 2018. ��✓ 1''° Arlene A. Juracek Mayor ATTEST: Karen M. Agorados Village Clerk H:\CLKO\WIN\RESOLUTION\Lease pyml, Library & VOMP,parking2018,doc