HomeMy WebLinkAbout86-53 - C & S Ventures dba American Trolley LinesRESOLUTION No. 86 -53
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH AMENDING AN OPERATING AGREEMENT
WITH C & S VENTURES INC., dba AMERICAN TROLLEY
LINES, TO AUTHORIZE MONTHLY SUBSIDY PAYMENTS.
WHEREAS, the City Council on March 24, 1986 approved
• an Operating Agreement with C & S Ventures Inc., doing business
as American Trolley Lines, to operate a trolley system within the
City; and
WHEREAS, Section 4 -D of the Operating Agreement provides
that the City shall make subsidy payments to C & S Ventures Inc., on a
quarterly basis; and
WHEREAS, C & S Ventures has requested, and the City
Council has concurred, to have such payments made monthly.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Newport Beach that Section 4 -D of the Operating Agree-
ment dated April 2, 1986 with C & S Ventures Inc., is hereby amended
to authorize the City Manager at his discretion to approve monthly
subsidy payments to C & S Ventures Inc.
ADOPTED this