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i <br />RESOLUTION NO. 8186 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF NEWPORT BEACH AUTHORIZING THE EXECUTION OF <br />AN EXTENSION OF LEASE AGREEMENT WITH THE <br />BALBOA ANGLING CLUB <br />• WHEREAS, the City of Newport Beach and the Balboa <br />Angling Club are parties to a Lease Agreement dated April 1, <br />1947, by which the Angling Club leases certain City -owned <br />Real property located at the foot of "A" Street and the Bay <br />Front on the Balboa Peninsula, which lease has been subsequently <br />amended and the term thereof extended to April 30, 1977; and <br />WHEREAS, there has been presented to the City Council <br />of the City of Newport Beach an Extension of Lease Agreement <br />which would extend the above - described lease for a period of <br />25 years, commencing on February 1, 1974, and ending January 31, <br />1999; and <br />WHEREAS, the City Council has reviewed the terms of <br />said agreement and found them to be fair and equitable and in <br />the best interests of the City and the public; <br />NOW, THEREFORE, BE IT RESOLVED by the City Council <br />of the City of Newport Beach that said Extension of Lease <br />Agreement to January 31, 1999, is approved, and the Mayor and <br />City Clerk are hereby authorized and directed to execute the same <br />on behalf of the City of Newport Beach. <br />ADOPTED this 28th day of January, 1974. <br />QU404&52k* <br />Mayor <br />ATTEST: <br />a ria <br />City Clerk <br />CEJqIFIED AS THE AL <br />CITY CLERK OF THE CITY OF HE T BEACH <br />47A1V 31 1974 <br />DATE <br />mh <br />1/29/74 <br />