HomeMy WebLinkAboutR-96-0010U-96-14
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RESOLUTION NO.
A RESOLUTION, WITH ATTACHMENTS, AUTHORIZING
THE CITY MANAGER TO EXECUTE AN AGREEMENT, IN
SUBSTANTIALLY THE ATTACHED FORM, WITH MIAMI
MOTORSPORTS, INC., TO TERMINATE THE EXISTING
AMENDED AND RESTATED GRAND PRIX LICENSE
AGREEMENT.
WHEREAS, on May 1, 1995, the City Commission adopted
Motion 95-274 for the purpose of notifying Miami Motorsports,
Inc. of the necessity to move the Grand Prix Race from the F.E.C.
property site, pursuant to Section 4 of the Amended and Restated
Grand Prix Agreement ("Agreement"); and
WHEREAS, Miami Motorsports, Inc. has requested that the
existing Agreement be terminated;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
ATTACHMENT (S)
CONTAINED
CITY COMMISSION
MEETING OF
JAN 2 5 1996
Resolution No.
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Section 2. The City Manager is hereby authorized to
execute an agreement, in substantially the attached form, with
Miami Motorsports, Inc., to terminate the existing Amended and
Restated Grand Prix License Agreement.
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 25th day of _January 1 1996.
s
YTEATTES
STE EN P. CLAR , MAYOR
J. FoyjvMW, CITY CLERK
PREPARED AND REVIEWED BY:
TERMINATION AGREEMENT
This Termination Agreement ("Agreement") dated January , 1996, by and between
the City of Miami, a municipal corporation of the State of Florida ("City") and Miami
Motorsports, Inc., a corporation organized and existing under the laws of the State of Florida
("LICENSEE").
WITNESSETH:
WHEREAS, the City and the Licensee entered into the Amended and Restated Grand Prix
Agreement dated October 16, 1985, as amended, (the "License Agreement") which the parties
amended several times; and
WHEREAS, on May 1, 1995, the City Commission adopted Motion 95-274 for the
purpose of notifying the Licensee of the necessity to move the Grand Prix Race from the F.E.C.
property site, pursuant to Section 4 of the License Agreement ("Agreement"); and
WHEREAS, the Licensee has requested that the License Agreement be terminated; and
}� WHEREAS, both the City and the Licensee now wish to terminate the License Agreement
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and to release each other from any and all obligations of either party under the License
Agreement.
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NOW, THEREFORE, for Ten Dollars ($10.00) and other good and valuable
considerations, receipt and adequacy of which is hereby acknowledged, the parties agree as
The foregoing recitals are true and correct and are made part of this Agreement.
City and Licensee hereby terminate the License Agreement and irrevocably release
j each other from any and all of the rights, obligations and conditions contained in the License
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IN WITNESS THEREOF, the parties hereto have caused this Agreement to be duly
executed and delivered by their respective officers as of the date first above written.
WITNESSES:
ATTEST:
Walter Foeman, City Cleric
APPROVED AS TO FORM & CORRECTNESS:
I A. Quinn Jones, III, City Attorney
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MIAMI MOTORSPORTS, INC.
By:
President
CITY OF MIAMI, a municipal corporation
of the State of Florida
t:
Cesar H. Odio
City Manager
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CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM CAm16
TO : The Honorable Mayor and DATE : December 29, 1995 FILE
Members of the City Commission
SUBJECT:
Ml<AMI
MOTORSPORTS, INC.
FROM :
City
RECOMMENDATION
REFERENCES:
ENCLOSURES:
It is respectfully recommended that a resolution be passed authorizing the City Manager
to execute an agreement, in substantially the attached form, with Miami Motorsports,
Inc., to terminate the existing amended and restated Grand Prix License Agreement.
BACKGROUND
On May 1, 1995, the City Commission adopted Motion 95-274 for the purpose of
notifying Miami Motorsports, Inc. of the necessity to move the Grand Prix Race from the
F.E.C. property site, pursuant to Section 4 of the Amended and Restated Grand Prix
Agreement. Subsequently, Miami Motorsports, Inc. has requested that the existing
Agreement be terminated immediately. Therefore, it is respectfully recommended that a
resolution be passed authorizing the City Manager to execute an agreement to terminate
I the existing Agreement.
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