CITY OF MANSFIELD - File #: 16-1999

• File #: 16-1999
• Version: 3
• Name: Ordinance - Third and Final Reading of an Ordinance Authorizing the Execution of a Gas Lease Agreement Between the City of Mansfield and GHA Barnett, LLC for City-Owned Property Located at 707 Pleasant Ridge Court
• Type: Ordinance
• Status: Passed
• File created: 10/5/2016
• In control: City Council
• On agenda: 11/14/2016
• Final action: 11/14/2016
• Title: Ordinance - Third and Final Reading of an Ordinance Authorizing the Execution of a Gas Lease Agreement Between the City of Mansfield and GHA Barnett, LLC for City-Owned Property Located at 707 Pleasant Ridge Court
• Sponsors: Shelly Lanners

Date	Ver.	Action By	Action	Result
11/14/2016	3	City Council	Approved on Third and Final Reading	Pass
10/24/2016	2	City Council	Approved on Second Reading	Pass
10/10/2016	1	City Council	Approved on First Reading	Pass

Title

Ordinance - Third and Final Reading of an Ordinance Authorizing the Execution of a Gas Lease Agreement Between the City of Mansfield and GHA Barnett, LLC for City-Owned Property Located at 707 Pleasant Ridge Court

Requested Action

Approve Ordinance

Recommendation

Approve Ordinance

Description/History

The City advertised for bids for a mineral lease, no drill site, for City-owned property located at 707 Pleasant Ridge Court.  The bids were opened on October 3, 2016.  A map of the property is attached. The offer amount for royalty is 25% with a two-year primary term and $1,000/AC bonus money from GHA Barnett, LLC.

Justification

This property was bid out as a “no-drill” site. GHA Barnett, LLC bid exceeds the initial bid requirements and the lease is still for a no-drill site. The mineral lease agreement has been approved by the city attorney.

Funding Source

N/A

Prepared By

Shelly Lanners, Deputy City Manager

shelly.lanners@mansfieldtexas.gov

817-276-4265