HomeMy WebLinkAbout936 - REGARDING pledging future revenues "Amended as 936A" from the lease of the Boulder Dushanbe TeRESOLUTION N0.936
TEAHOUSE RESOLUTION
WHEREAS, The crty and people of Dushanbe, Ta~ikistan, presentcd to Lhe city and peoplc of
Bouldci, Colo~ado, the gift of a tradiCional Ta~ilo-style teahouse m L990 as a way to honoi oui
sistei city Cies,
WHEREAS, This aiC~shcally ornate teahouse also represents lhe smglc largest gift from the
people of the fotmer Sov~et Un~on to lhe people ot the Umted States,
WHEREAS, The City of Boulder donated the land foi the Dushanbe Teahouse m a piom~nent
downtown Boulder locatton, and p~ovided a conshuclton loan to help eiccl the Teahouse m
1)98,
WHEREAS, The Dushanbe Telhouse has become one of downtown Bouldet's biggest
atuactions, bringmg much needed toutism and sales tax ievenucs to the city,
WHEREAS, The Boulder-DushanUe Sister City group has proposed and designed a Cybet Cafe
as a~ec~ptocal g~fl ftom the city and people of Bouldei to the city and people of Dushanbe, and
WHEREAS, The C~ty ot Dushanbe, T~~ikistan, has appioved the Cyber Cafe concept and has
donated a piomment downtown Dushanbe locahon foi rts consti uchon so long 1s lhis ophon ~s
exeicised by Februaty 2006.
NOW, THERFORE BE IT RESOLVED, The Boulder City Council pledges, sub~ect to
appropriations, all ievenues fiom the city's Dushanbe Teahouse lease toward the Cybei C1fe
iccip~ocal g~fl, sub~ect Co the followmg condihons
1) The ctty's origmal $700,000 consiruction loan, mcludmg 6% compound mterest, must
be complelely paid off from Che lease ievcnues befoi e any proceeds are released for die bencfil
of the Cybei Cafe (currently esdmated to occtu m the year 2015),
2) The ctry's FAM mamtenance-and-ieplacement tee for the exislmg Teahouse will
contmuc to be paid out of the lease proceeds as a fust pnonty,
3) The max~mum financtal obligauon of this pledge is not to exceed the equivalenl of a
loan ~n 2004 of $350,000 pitnctpal with 6°Io compound mterest until the tetms of this pledge ate
fully met (it bemg undersCood that Che city itself is not providtng such a loan); and
4) The Cybei Cafe ~s deliveted to the people of Dushanbe, to such a degtee and ioughly
equivalent to Che mannei and conditlon m which Boulde~ ieceived its Teahouse fiom Dushanbe,
th~s bemg accomplished no latet than February 2006.
APPROV~D this 16th Day of Dccember, 2003
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Mayoi
Altest
,Gl/(s?--
C~ty Clerk