Sponsor
Alderman Helding
Title
Enter into Lease Agreement with Adams Outdoor Advertising
Resolved, that the Mayor and City Clerk be authorized and directed to enter into a Lease Agreement with Adams Outdoor Advertising for the leasing of billboards on City-owned property at the following locations:
A. Eighth Street and Marquette Street; and
B. Ninth Street and Elm Street,
For a five-year period of time commencing on September 1, 2009 and ending August 31, 2014, with a yearly rental beginning at $2,145.00 which will be raised annually in accordance with the consumer price index, with the following stipulations:
Lessee shall maintain the display boards in excellent condition.
Lessee shall remove any dated or seasonal advertising within one week after the advertised event.
Fiscal Note: This Lease Agreement will generate $2,145.00 in rental income in the first year of the agreement.