HomeMy WebLinkAbout1993-67 - Contract No. 2~„
BILL NO. ~~~~ ~
#2049S; 11/08/93
/.~~~/ yi
ORDINANCE NO. /-' '~" ~
AN ORDINANCE AUTHORIZING THE EXECUTION OF CONTRACT NO. 2
AND THE FIRST ADDENDUM THEREOF.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF
RIVERSIDE, MISSOURI, AS FOLLOWS:
Section 1. The Mayor and City Clerk are hereby authorized
to execution Contract No. 2 and the First Addendum thereof
which is attached Exhibit "A" and made a part of this ordinance
as though fully set out herein.
Section 2. The purpose of this contract is to enter into a
temporary lease for a certain portion of the City's land and to
make certain changes and addendums to the initial agreement
between the City of Riverside and Missouri Gaming Company and
Argosy Gaming Company.
PASSED THIS ~~~~`' DAY OF
~] ~'/ 19 9 3 .
~~1 ~iG~ J-~~i~G-!/`CiC~~
MAYOR "
ATT~;SfP: _/
CITY CLE12K t
APPROVED THIS l~;th, DAY OF ~( A-~I~ 1993.
~~~- .~ ~,~~~e~
MAYOR
}`20aF3w; 11/OA/93
It~vi~ed 11/Q9/93
FIRST AllD~NZ7UM :Ct7 CONTRACT N0. 2
g~"rWEEN THE CT.TY OF FxV};12SiDE, txzSSOU2:S
AND
MrSSOURI GhMXNG C02•iPP.NY
AND
A22GOSY GAMII;G CpMP.~.NX
(OTH~Rj4IsE HNOWN AS TORAIZX LEASE)
WHEREAS, L1ridQx thr farms of the initial contract signed
between t-beee parties on Ox about Juna 7, 1993, MiGCauri grid
Argosy were obligated to poet a $lo,0ao,o4n. performance bond
Gn or al~oat se,pte,nbex 7, 193; ar,d
WHEREAS, no performanGG bond hag bekn pasted at this time;
and
WHBREA3, Missouri and At•gasy have r~(uested a temporary
lease and the City has previously indicated a pre~dispositicn
to grant ~UCh a temporary 1.r~nsse conditioned upon the po~ctfng oX
the parforTndriso bond roqufrect by the inlCial contract; and
WHE12.E~#S, tho initial contract requires 'the performance bond
son u11 oA~-site improvements, the guaranty of s17. parPoxraaneen
due under the contrast and t.ha guaranty of all payments duty
under the contk'dCt•
NO'N, THEREFORE, BE IT AGFcEED AS FOLLOWSz
1. 'Tho City e,greea to execute ConL'rBCt NO. 2 and thins
Addendum expressly conditioned upon the representc~tionst of
MissouxA Gaming Company and Argosy Gftming Company' thaC Choy
will by abl.o to pant a perforawna~a bond ar in lieu thereof an
.~snrow deposit of $10,000,000. in tt gOYIa satisfattOSy to the
c~.ty and in the event that said performance bond, subdivision
bond, oguity bona or a letter oP credit ox escroN deposit in a
~py`p1 Ascaptabl~e to ~@ City is not po~tcd, than thisr temporary
lases hail tcrminsta on 1'ebruary 8, 1rJ84, natkithctanding any
other provision of t21e aontraot.
2. The City agrees that a.n the event MiA~ouri Gam~.ng
Company i9 one of the znitiel mix com~,anice gr~ant~d l~.eensay,
then the requirement of thQ initial contract of Juno T, 3993 to
post a performance bond to essur4 Cb.a performt~nca of ovary
condition oY the contract io by the City waived. It ie:
expressly understood that the ablitTation of idibaour~. Gaming
company and the oorreuponding {guaranty aY ]~.tgosy oa-ming Company
ahali remain in full Lox-ce and e~£fQCt to perPozm each and rvery
provision oz the contract.
hS O ~,.~ - 1 ~T_~ -'~ ? tJ E L 1~-~ ~-~ :~ LJ I T T :_, H Z ~- k-- L I hJ
NOV-10-93 DIED 10:G~ ~~ ALTON BELLE C~SiNO,~ ~,_,._~ „FAY h~• 6184747836 ~ _ ~, F. ~~
a. The City ardr~es that xn the event Missnuri Ga~ninq
company is ono of ttJa ~ir~t rs,ix compnrJits to rd axerci~ sLnits
and in thca avant that Missouri CanS.ng Company
option in x~r~rs six 'thxouy ~ twc~npty X _r- th® ~ ontract, Company
obligation of rti.ssourz Gamin Con an anN Ar osy Gamins
to poet a perform,anac bond to asstzxJ~ pgymenti dP all ~um~ due
t1nm. city shall be ~anv¢g~,.ndrl~gc ~ Ga~aing lCompanybpureuunt to
Missauxl Gaming Cowp Y `,
the oontxact '~eY have executed sha11 xemainog n Gaming o Company
etPrCt asld kifssouri Gaznxng Corn~ny and Axg y
agree. to prast at the end of PiYe (5} years and mnnually
thccxeafter the total. amount at paXmQlat uaid on th4 lease idr
the pracedirq YQBZ an December 31st as a~n advance security
dQpocit fax 'the rent due uttdex thQ cantrac'c da'Ged June T, 1993.
q, A11 par~;los to this cantxact agree that Missoµr,i
Gamfnq company ~ha11, be deemed 1a.oon~od ~:nder bath ContrxcC N0.
~ and Contx'aGt N0. ~ at eny time that A xiCOn~$ ar 4thQr right
to operato in granted hX the bfiesouri Gaming Commission.
CT1'X T2T:Q'E IDS;, pT1St~o'UR.I
nX=
Mayor
ATT ST: ~
~._ `~~
city Clezk
ATTE'mt / ~,
' ~-:-~
,Seer a Y
MISS GAMING 9kiPANY
~ - C~ ~.~ .
STATE OF MISSOURI
6r.
COUNTY OF PLA1'rE }
,~~i~ day of ~ ~1 ° ~r 1993, before ne
On thin ~-- to m0 pexsonally lcnoc:n, wk~o, beincl by ma
ap~eared HettY 19ux ~+ that she is tlau Mayor aP th¢ City oI
du ~' AWOrn+ did the
Ri.Yax'xide, a political subdiviBion, known to sne+ 'Ga kw
person ~-nd a~~awledgeflsCoame thatsher~ ecutea th¢ fsameotQr
~.nstrument, and tts the
the puxpaSCS and consifleratfon t}aerein expressed, therein
tree eat and deed oP said CiCY, and in the eapaGity
fated all by authority oi' its Boarc1 of Aldex-men.
s ,
F-J U •.;' - Z 4-~ - •=• = 4•J E Li 1 ~-~ _ ~-y ~~ L•J I T T :_: H Z ~ _- F°-- L Z Y-J
F, os
NOV-1o-9~ b1ED~1~~4T~~ H~TQN BELLGyCRSING, y,~,_~, ,Fr?' 1'~'~~ 618474763b _ ,,,•,
TN T86Tx2lIONY wr•TERrioF, T have hereurzty set mY Ittj.nd and
aPElxed my official .seal at my n~gi.c4 ~,n said County antl State
tha dlaY and ye2x lust abQVO wr~.tten.M ( /~
NG'C~x~ ~u I.C
i~.''(Y cOrumlSSlb>a ~SCFJ 7. X•Q~%
f~,~ ' C~ ~ ,. -.~
~;s .
,~J~v~vr~~~:~ 1997. Ae~ora me
~~ day oY ,,,,.... ' knordn, wno,
4n t1~is ~~~~ _ ~ to me ~eraona~,ly
ap eared ~.-~4,on~s
be~ g by ms duly ~cworn, did s?ry tiLat ha is file C
Yhi<~.hc~C~ b~-vn~~ ~a~r_.: , that thca seal aEfixcd to the
0
farggving rostrum -t-t, ~i~ kr¢ ca~oratc seal oP ea~.d corporation,
P~n.d that 6uid instrument was sic~ncd +~nd sealed in behalf end
ffirs,id oorporatian by nuthoYity of ite> i~aazd oi° A~.reotOrSS,
said „~ ,naj ~ acknowledged said axrStaCUmexrt to be the
Free eG't and dee of sa~.d corporation.
xN TESm]~4NY WFTx,FtEQF, X have hereunto set my hand and
effix4d ny effioi~l 6ea1 at. my oYf1Ce in said County and State:
th.~ day and peat last above Wra.tten.
~ ~~~
~_N arY PubB.ic
My Commission exgixe~s
w~.~~ ~~ I ~ _ ~. QFrICiAL SEA
ROF31(\: L. ~ALDWIN
NCTART PUBLIC, STATE G~ ILUa',IS
MY CCMMISSIC`( EXPIkES 6!?C/95
N 17 'v' - 1~-y -'-! = L•J E SI 1~-~ C~-y r. LJ I T T s H I 1== k' L I Y-1
F' _ ~=y 4
NGV-10-93 WED ]0,57 RLTON BELLE CRSiNO_ FAX N0. 6184747636 ~, y P.01
~ 1 W Y~ ar -~ J . V C a~ V v rY A 1 1'}; 1 l} ~. t'. L !_
w~ . {~~.•~1 TATc W ~ c~ ~s rote~p ret,ation
Arid pcrfdi~,tl~e g~'lar~' be ~n~~+, c`~~-.n~i~`~sct~ rxrzu ~'ry~idLGU ux
tha lawn ~f tl',a t~tata a~ Mis~ae,~z.%~ kt~ t~greed that it hac
been executed irl pldtite Caunty, ?tisscur_.
34. ~~ ~ 'H'henever thi.:~ 1eaMe xequizes either
paxty to ~rPorat any action e~ithir. k specified perxad, ax
r¢quArar thati a particular ev~n•c eccu.r within a specified
pQri.od, if the last day of stzcT~ p-ri.rC: :.s nDt rat business day,
~~en tha p~,xxad -~k1a11 b~ d~cm~c! ^X4on.~~+c~ ~kaxaugh the Clow a~
buein~ss on th• giret business day ~cwlewing ruck gerioC ~~
initially specified.
It shall Ae the specific ab].x~Iatio~ of Mi~~nuri i:o campletc~
il~o i•rmr~l Yrwv~ Y,sy).in7 del'.-, t'h.-. r,~.-..n.~~ ....1 ~7Y 1ir~}~+~dnr~- j-.r{nr
to 'the operation of any Go2nmerai~l activz'cy on the witQ•
IN WITNESS ~~W))HEREOF~ City anu Mi~C,cL',rl. 21nVe duly executed
this lease an 1~°U' /d 193.
CITY oI' 1~TVLFtSIDE, rtzSSOVxr
ay : .._..__,~....
x~yo:.-
ATT 52' :
City Clerk ~-~
' Mzaav ' ~ lvu t;~rxt Nx
`'bxx ~:
i
4--'
seer ax'y
25
F J~-~ ••; • -- 1 ~=t - '=' =~ L•J E L 1 ~=t _ ~T_~ 7 L•J I T T :_ : H I C F=:: L I Y-J
F' _ ~-i .c
STATE OF MISSOURI )
ss.
COUNTY OF PT.~T+TTE )
~II~ +.I• 9+•+
On this ~_~ day of ~i„~f ~ ' ~ 193, before me
appeared Betty Burch, to me personally known, who, being by me
duly sworn, did say that she is the Mayax of the City of
Riverside, a political subdivision, known to me to be the
person and officer whose name is subscribed to the foregoing
instrument, acknowledged to me that sloe executed the same for
the purposes and aonsid~ratian therein expressed, and as the
free act and deed of said City, and in the capacity therein
stated, all by authority of its Board of Aldermen.
IN TESTIMONX WHEREOF, I have hereunto set my hand and
affixed my official seal at my office in said County and State
the day and year last above written. ~~~
~_ ~~ . ~~~ ~!~' '1'x'1
Notary P lic ~~
My commission expires:
~.~,~~C~ .~ ~"~ - -
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