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