HomeMy WebLinkAbout1033 Agreement Between City and MO Gaming Company BILL NO. 2010-057 ORDINANCE NO. � �J' 3
AN ORDINANCE AUTHORI2ING AND APPROVING THE FIRST AMENDMENT TO THE
COST PARTICIPATION AGREEMENT BETWEEN THE CITY AND MISSOURI GAMING
COMPANY FOR CONSTRUCTION OF ARGOSY CASINO PARKWAY
WHEREAS, pursuant to Ordinance 2007-81 the City of Riverside, Missouri ("City")
entered into an agreement with Missouri Gaming Company ("Argosy") for cost sharing of the
construction of public improvements relating to City projects 019-530-03A and 019-530-03B;
WHEREAS, the construction of Project 019-530-036 has been delayed due to weather
and other causes outside the control of either of the parties; and
WHEREAS, the parties desire to amend the original Cost Participation Agreement to
share the increase costs associated with contract acceleration by the contractor for construction
of Project 019-530-03B as set forth in Exhibit A attached hereto; and
WHEREAS, the Board of Aldermen find it is in the best interest of the citizens of the City
of Riverside to provide for such contract amendment as set forth in Exhibit A attached hereto;
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE
CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
SECTION 1— AMENDMENT APPROVED. The First Amendment to Cost Participation
Agreement between the City and Missouri Gaming Company in substantially the form set forth in
Exhibit A attached hereto, is hereby approved, ratified and authorized.
SECTION 2— AUTHORITY GRANTED. The Mayor, the City Administrator, the City
Attorney and other appropriate City officials are hereby authorized to take any and all actions as
may be deemed necessary or convenient to carry out and comply with the intent of this
Ordinance and to execute and deliver for and on behalf of the City all certificates, instruments,
agreements and other documents, as may be necessary or convenient to perform all matters
herein authorized.
SECTION 3— EFFECTIVE DATE. This Ordinance shall be in full force and effect from
and after its passage and approval.
BE IT REMEMBERED that the above was read two times by heading only, passed and
approved by a majority of the Board of Ald rmen and AP ROVED by the Mayor of the City of
Riverside, Missouri, this v� l S•} day of ��, 2010.
��
Kat leen L. Rose, Mayor
ATTEST:
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Robin Littrell, City Clerk
APPROV S TO FORM:
OSti_
a� Th m son, City Attorney
FIRST AMENDMENT TO
COST PARTICIPATION AGREEMENT
THIS FIRST AMENDMENT TO COST PARTICIPATION AGREEMENT is entered into by the City of
Riverside, Missouri (hereinafter, "City") and Missouri Gaming Company (hereinafter, "Argos�') this o1( �
day of September 2010:
WHEREAS, City and Argosy are parties to a Cost Participation Agreement dated December 21,
2007 (hereinafter the "AgreemenY'); and
WHEREAS, the parties desire to amend said Agreement as set forth herein;
NOW, THEREFORE, in consideration of the mutual covenants and agreements of the parties
contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as
fol laws.
(1) Amendment of Section 41A1(xvl. Section 4(A)(xv) of the Agreement is hereby amended
to read as follows:
4(A)(xv)- Allocate a maximum of Two Million Seven Hundred Fifty Dollars ($2,750,000)
of City funds toward the construction costs on Job Number 019-530-03B.
(2) Amendment of Section 41B►lvii). Section 4(B)(vii) of the Agreement is hereby amended
to read as follows:
4(B)(vii) - Argosy shall be responsible for all construction costs in excess of $2,500,000
on Job Number 019-530-03A, and for all construction costs in excess of $2,750,000 on
Job Number 019-530-03B, as well as for all other costs beyond the City's responsibility.
(3) No Other Amendments. Except as specifically modified and amended herein, all of the
terms, provisions, requirements and specifications contained in the Agreement (including without
limitation Section 3(B)) remain in full force and effect. Except as other expressly provided herein, the
parties do not intend to, and the execution of this Amendment shall not, in any manner impair the
Agreement; the purpose of this Amendment being simply to amend the Agreement as set forth herein,
and to confirm and carry forward the Agreement, as hereby amended, in full force and effect.
(4) Counterparts. This Amendment may be executed in several counterparts, each of which
shall constitute an original and all of which, when taken together, shall constitute one agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and
attested by its duly qualified and authorized officials as of the day and year first above written.
CITY MISSOURI GAM NG COMPANY
Ka leen L. Rose, Mayor Ameet Patel
Vice President/ General Manager
First Amendment to Cost Participation Agreement — Page 1 of 2
ATTEST: ATTEST:
c%%'���C��a���-e.C. �1ICt.
Robin Littrell, City Clerk Title:
Approved as o Form: Approved asto Form:
" :�"L-- �n ��
N n son, City Attorney Corporete Counsel
First Amendment to Cost Participation Agreement — Page 2 of 2