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CITY OF LINO LAKES <br />RESOLUTION NO. 17-140 <br />APPROVING SPRINT SPECTRUM L.P. LEASE <br />AGREEMENT - WATER TOWER #1 <br />WHEREAS, The existing lease agreement with Sprint Spectrum L.P. to operate <br />telecommunications equipment on the water tower located at 7470 Fourth Avenue has <br />expired; and <br />WHEREAS, City staff along with the City Attorney has negotiated the proposed lease <br />agreement with Sprint Spectrum; and <br />WHEREAS, The term of the agreement is for five (5) years and will be automatically <br />renewed for three (3) additional five-year terms unless one party provides the other party <br />with 180 day written notice of its intention not to renew prior to the expiration of the <br />Initial Term or any Additional Term; and <br />WHEREAS, The rent has been increased to a monthly fee of $2,900.00. The monthly <br />rent payment will increase by 4% of the monthly fee each year of this Agreement <br />beginning March 1, 2018 and on each anniversary of March 1 thereafter. <br />NOW, THEREFORE BE IT RESOLVED, that the City Council of the City of Lino <br />Lakes hereby approves the Water Tower Lease Agreement with Sprint Spectrum L.P. for <br />Water Tower #1. <br />Adopted by the Lino Lakes City Council this 11th day of December, 2017. <br />The motion for the adoption of the foregoing resolution was introduced by Council <br />Member Kustermanand was duly seconded by Council Member Maher <br />and upon vote being taken thereon, the following voted in favor thereof: <br />Kusterman, Maher, Rafferty, Manthey, Reinert <br />The following voted against same: <br />none <br />A <br />Jeff Refine . . yor <br />ATTEST: <br />