|
Title:
|
Resolution authorizing the Recreation and Park Department to enter into an agreement to loan up to $8,500,000 to the San Francisco Zoological Society (“SFZS”) to support the operations and long-term financial sustainability of the San Francisco Zoo contingent on various milestones and terms and conditions effective upon approval of this Resolution, to be repaid over 10 years in the form of deductions from the SFZS’s Management Fee; allowing for the City to terminate the Lease and Management Agreement with the SFZS in the event the loan is not timely repaid or if the conditions in the loan agreement are otherwise not met; and authorizing the Recreation and Park Department General Manager to enter into amendments or modifications to the loan agreement that do not materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the permit or this Resolution.
|