Fiscal Note
The existing contract requires Dane County to pay an annual rent payment on or before November 1st of each year, with the last payment of $13,025 due on November 1, 2008. The annual rent payment funds are deposited into the General Fund (Acct# GN01-78220). By terminating this contract, Dane County will be released from the requirement to make the final payment on November 1, 2008, and the City would forgo receipt of this last component of the revenue stream.
Title
Declaring the contract between the City of Madison and Dane County regarding the County's use of the salt storage facility at 402 S. Point Road be terminated.
Body
WHEREAS, the City and County entered into an agreement in 1999 that allowed the County to store road salt at the City-owned salt storage facility at 402 S. Point Road; and
WHEREAS, the county has agreed to pay the City an annual fee of $13,025 to store road salt at this facility; and
WHEREAS, the term of the contract is scheduled to end on April 15, 2009; and
WHEREAS, the County has not added salt to the physical inventory since 2004; and
WHEREAS, both the County and the City are in agreement to terminate the lease agreement one year prior to the end of the lease.
NOW, THEREFORE BE IT RESOLVED, that the agreement to store road salt at 402 S. Point by the City of Madison for Dane County is hereby declared to be terminated retroactive to April 15, 2008.