Number
080735
Version
Original
Reference
Sponsor
The Chair
Title:
Resolution approving the lease agreement between NuStar Terminals Operations Partnership, L.P. for the Assignment of Lease Agreement & Consent to Innovation Fuels, Inc.
Analysis
This resolution would approve the Assignment of Lease Agreement & Consent to Assignment with NuStar Terminals Operations Partnership, L.P. to Innovation Fuels, Inc. whereas NuStar Terminals Operations Partnership, L.P. wishes to assign all rights, title and interest in and to the lease to Innovation Fuels, Inc. in accordance with the terms and conditions of the Assignment of Lease Agreement; and Whereas the Assignee accepts the assignment and transfer, and assumes all of the obligations of Assignor under the lease, except as otherwise expressly provided.
Body:
Resolved, By the Common Council of the City of Milwaukee, that said Common Council hereby ratifies and approves the Assignment of Lease Agreement & Consent to Assignment between the City of Milwaukee, by and through its Board of Harbor Commissioners and NuStar Terminals Operations Partnership, L.P. to Innovation Fuels, Inc. for the term through August 16, 2015, and, be it
Further Resolved, That the designated officers of said government and said Board are hereby authorized and directed to execute an agreement to carry out this purpose as prepared by the City Attorney's office.
Drafter
08/27/2008
Port of Milwaukee
Donna Luty