A resolution authorizing the Nashville Convention Center to accept $8,888.75 from Christian Jubilee, Inc., in full and final satisfaction of Christian Jubilee, Inc. obligations under a June 20, 2000 lease agreement and the Letters of Commitment entered into with the Nashville Convention Center on March 23 and September 18, 1998; June 7, 1999; and June 10, 2000 for the use of Nashville Convention Center facilities in the years 2000 through 2005, inclusive.

Whereas, on June 20, 2000, Christian Jubilee, Inc. entered into a lease agreement with the Nashville Convention Center for the use of Nashville Convention Center facilities in July 2000; and

Whereas, on March 23, 1998, Christian Jubilee, Inc. entered into a Letter of Commitment with the Nashville Convention Center for the use of Nashville Convention Center facilities in June 2001; and

Whereas, on September 18, 1998, Christian Jubilee, Inc. entered into a Letter of Commitment with the Nashville Convention Center for the use of Nashville Convention Center facilities in July 2002; and

Whereas, on June 7, 1999, Christian Jubilee, Inc. entered into a Letter of Commitment with the Nashville Convention Center for the use of Nashville Convention Center facilities in July 2003; and

Whereas, on June 10, 2000, Christian Jubilee, Inc. entered into Letters of Commitment with the Nashville Convention Center for the use of Nashville Convention Center facilities in July 2004 and June and July 2005; and

Whereas, Christian Jubilee, Inc. owes a balance due of $8,888.75 on their lease agreement for the use of Nashville Convention Center facilities in July 2000; and

Whereas, Christian Jubilee, Inc. has become insolvent and has cancelled its Letters of Commitment for the use of Nashville Convention Center facilities in the years 2001 through 2005, inclusive; and

Whereas, the Nashville Convention Center Commission has voted to accept payment from Christian Jubilee, Inc. in the amount of $8,888.75 in full and final satisfaction of all amounts owed under the June 20, 2000 lease agreement and the five letters of commitment identified above; and

Whereas, after investigation, the Department of Law believes the settlement amount as set forth in Section 1 is fair and reasonable and recommends that the Metropolitan Government of Nashville accept $8,888.75 in full and final satisfaction of Christian Jubilee, Inc.'s obligations under the June 20, 2000 lease agreement and the Letters of Commitment entered into with the Nashville Convention Center on March 23 and September 18, 1998; June 7, 1999; and June 10, 2000 for the use of Nashville Convention Center facilities in the years 2000 through 2005, inclusive and that this amount be deposited into the appropriate fund and account as determined by the Department of Finance.

Now, therefore, be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County:

Section 1. The Nashville Convention Center is authorized to accept $8,888.75 in full and final satisfaction of Christian Jubilee, Inc.'s obligations under the June 20, 2000 lease agreement and the Letters of Commitment entered into with the Nashville Convention Center on March 23 and September 18, 1998; June 7, 1999; and June 10, 2000 for the use of Nashville Convention Center facilities in the years 2000 through 2005, inclusive.

Section 2. This resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored By: Jim Shulman

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee
Introduced:	January 15, 2002
Adopted:	January 15, 2002
Approved:	January 16, 2002
By: