05-091, Cupertino Union School District (see 91-111, 13-147, 16-168)
tr'3 O(~I I
FIRST AMENDMENT TO AGREEMENT BETWEEN THE CITY OF CUPERTINO,
CUPERTINO UNION SCHOOL DISTRICT, AND CUPERTINO SCHOOLS PUBLIC
FACILITIES FINANCING CORPORATION, PERTAINING TO MAINTENANCE AND
IMPROVEMENT OF CERTAIN OPEN SPACE AREAS WITHIN CERTAIN SCHOOL SITES
This First Amendment to the "Agreement Between The City of Cupertino, Cupertino
Union School District, and Cupertino Schools Public Facilities Financing Corporation,
Pertaining to Maintenance and Improvement of Certain Open Space Areas Within Certain
School Sites", dated Apri126, 1991, is made and entered into this ~ day of Dec....e...N\loer:""
2005.
RECITALS
1. The 25-year agreement was intended to provide maintenance and improvements of the
school p1ayfie1ds by the City in exchange for the use of these p1ayfie1ds by City residents
and others for sports activities within the City of Cupertino.
2, Under a periodic review of the costs of this effort by the City, the inflationary costs of
maintenance has now resulted in an annual cost to the City of approximately $1,000,000
and it is expected that inflation for this kind of construction and maintenance work will
continue to run between 3-5% annually.
THE PARTIES HEREBY AMEND THE AGREEMENT AS FOLLOWS:
A. Cupertino Union School District will help offset inflationary costs of this maintenance
agreement in the future by making an annual payment of $45,000.00 to the City of
Cupertino.
B. This payment is due and payable in full on September 30, 2005 and on September 30 of
each and every year for the remaining period of the agreement, which ends June 30,
2016.
All other terms and conditions in the Agreement remain in place and effect.
~JUPERTINO
~. K-W
City Manager
ATTEST:
~~~
City Clerk
CUPERTINO SCHOOLS PUBLIC
FACILITIES FINANCING CORP.