HomeMy WebLinkAboutResolution AllianceAirport Authority (AAA) AAA-2011-01 ALLIANCE AIRPORT
AUTHORITY, INC.
RESOLUTION NO. AAA-2011-01
Authorizing a Mineral Lease with Quicksilver Resources,Inc.
for Property Located at 2000 Eagle Parkway
WHEREAS, AllianceAirport Authority, Inc. (the "Corporation") owns approximately
112 acres of real property in the vicinity of 2000 Eagle Parkway(the"Property"); and
WHEREAS, the Corporation has received a proposal for a lease of the minerals
underlying the Property; and
WHEREAS, after reviewing the proposal the Corporation wishes to enter into a lease of
the minerals underlying the Property with Quicksilver Resources, Inc. that includes, among other
things, a bonus of not less than $5,000.00 per acre and a royalty of not less than 25%, with no
use of surface of the property permitted;
NOW, THEREFORE, BE IT RESOLVED that the Corporation hereby authorizes the
staff to negotiate and finalize a lease of the minerals underlying the Property with Quicksilver
Resources, Inc. that includes, among other things, a bonus of not less than$5,000.00 per acre and
a royalty of not less than 25%, with no surface use of the property permitted;
FURTHER RESOLVED, that the President of the Corporation is hereby authorized to
execute such lease and any other documents necessary to effectuate such lease, as approved by
staff and the Corporation's legal counsel;
FURTHER RESOLVED, that the Secretary of the Corporation is hereby authorized and
directed to certify the adoption of this Resolution.
Adopted this Sth day of February, 2011.
By: yl
Marty Hendrix
Secretary