Appendix F. River Terminal: Great Northern Oil Terminal Co  


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AN ORDINANCE AUTHORIZING THE GREAT NORTHERN OIL TERMINAL COMPANY A CORPORATION ORGANIZED, CREATED AND EXISTING UNDER THE LAWS OF THE STATE OF MINNESOTA, TO ENTER IN AND UPON AND USE A PORTION OF THE DOCK AND OTHER LAND BELONGING TO THE CITY OF MINNEAPOLIS, UPON THE TERMS AND CONDITIONS HEREIN SET FORTH.

 Whereas, said leases were thereafter renewed pursuant to operator of certain public river terminal facilities situated on the west bank of the Mississippi River below the Washington Avenue Bridge in the City of Minneapolis; and

 Whereas, the City of Minneapolis did, in aid of and ancillary to the public river terminal and without interference to its operation, lease certain real estate comprising a part of and adjacent to the public river terminal facilities to Penn-O-Tex Oil Company, a Minnesota corporation, who contemplated the erection of steel storage tanks, equipment and facilities for transferring petroleum and allied products received from barges and river vessels that would dock; and

 Whereas, said leases were thereafter renewed pursuant to three leases from the City of Minneapolis, as lessor, to the Penn-O-Tex Corporation, as lessee, and which leases are described as follows:

1.
Lease dated January 7, 1949 for a period of twenty years to the 7th day of January, 1969;

2.
Lease dated July 24, 1950 for a period of twenty years to the 24th day of July, 1970;

3.
Lease dated July 24, 1950 for a period of twenty years to July 24, 1970, and covering different property than the lease described in No. 2 above; and

 Whereas, the real estate described in said three leases was subsequently sub-leased from the Penn-O-Tex Corporation as sub-lessor to the Penn-O-Tex Oil Corporation as sub-lessee and, thereafter, the sub-leases were assigned by Penn-O-Tex Oil Corporation to Phillips Petroleum Company, all of which acts were authorized and approved by the City of Minneapolis; and

 Whereas, from time to time, steel storage tanks, equipment and other facilities for transferring and storing petroleum and allied products from river vessels were erected and constructed on said real estate at the sole expense of the lessee, sub-lessee and its assigns; and

 Whereas, Phillips Petroleum Company is now in possession of said premises and is the owner of the steel storage tanks, equipment and other physical improvements situated on said premises; and

 Whereas, Phillips Petroleum Company desires to sell the steel storage tanks, equipment and other physical improvements situated on said leased premises and to be relieved and discharged from all the terms and conditions of the aforesaid three leases on its part to be performed; and

 Whereas, Phillips Petroleum Company is not in default of any of the terms and conditions of the aforesaid three leases on its part to be performed;

 Now, Therefore, the City Council of the City of Minneapolis do ordain as follows: