Title
Consider a resolution authorizing the Mayor to execute a Lease Estoppel Certificate and Agreement with Zions Bancorporation, N.A. DBA Amegy Bank and Round Rock Baseball Club LP.
Body
The City and the Round Rock Express entered into a Convention Center Complex Lease Agreement on January 20, 1999. The Lease Agreement provides that the Tenant has no right to encumber the Tenant’s rights under the Lease without the consent of the City. The Tenant has determined that it is in its best interest to borrow funds that are secured by its leasehold interest in the Convention Center Complex.
This Resolution grants its consent to the allowing the Tenant’s leasehold interest to secure the loan. Staff recommends that Council approve the Resolution.