Resolution No. 2022-24 - Walker Count Appraisal DistRESOLUTION NO 2022-24 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TX, APPROVES THE \\1ALKER COUNTY APPRAISAL DISTRICT ACQUISITION OF A BUILDING THROUGH A LEASE-PURCHASE AGREEMENT \VHEREAS, the Walker County Appraisal District is in need of additional office space and proposes to fill that need by the acquisition of prope1iy located at 1060 Hwy 190, Huntsville, TX; and Whereas, the City Council of the City of Huntsville finds it to be in the public interest to approve the acquisition and financing of that building; NOW. THEREFORE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, THAT: SECTION ONE: The City Council of the City of Huntsville approves the Walker County Appraisal District acquisition of a building through a lease-purchase agreement as proposed by the District by resolution dated August 31, 2022, at a maximum principal amount ofSl,500,000. SECTION T\VO: The City Council of the City of Huntsville hereby approves the Walker County Appraisal District entering into a lease-purchase agreement for the purchase of the property, subject to the following parameters: ATTEST: a.The tenn of the Lease shall not exceed twenty-five (25) years;b.Interest shall accrue at a per annum rate not to exceed 5.0%;c.Upon expiration of the term of the Lease or the earlier prepayment of the lease paymentsthe District shall have the option to purchase the Project for a nominal amount not to exceedSS.00.'ED this 20th clay of September 2022.