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CITY OF LINO LAKES <br />RESOLUTION NO. 20-17 <br /> <br />APPROVING SPRINT SPECTRUM L.P. LEASE <br />AGREEMENT – WATER TOWER #2 <br /> <br /> <br />WHEREAS, the existing lease agreement with Sprint Spectrum L.P. to operate <br />telecommunications equipment on the water tower located at 7001 Otter Lake Road has <br />expired; and <br /> <br />WHEREAS, City staff and the City Attorney have negotiated the proposed lease <br />agreement with Sprint Spectrum; and <br /> <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 the Tenant provides Owner with <br />notice of its intention not to renew prior to the expiration of the Initial Term or any <br />Additional Term; and <br /> <br />WHEREAS, the rent has been increased to a monthly fee of $2,900.00. The monthly rent <br />payment will increase by 4% each year of this Agreement on each anniversary of July 26 <br />thereafter. <br /> <br /> <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 #2. <br /> <br /> <br />Adopted by the Council of the City of Lino Lakes this 24th day of February, 2020. <br /> <br />The motion for the adoption of the foregoing resolution was introduced by Council <br />Member <br />_______________and was duly seconded by Council Member ________________ and <br />upon vote being taken thereon, the following voted in favor thereof: <br /> <br />The following voted against same: <br /> <br /> <br />______________________________ <br />Rob Rafferty, Mayor <br /> <br />ATTEST: <br /> <br />________________________ <br />Julianne Bartell, City Clerk