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Board approves memorandum acknowledging Verizon tower lease assignment to VerticalBridge; district says lease terms unchanged
Summary
Board approved a memorandum acknowledging that Verizon (Bell Atlantic Mobile Systems) plans to assign a tower lease to VerticalBridge; district counsel/presenter said the memorandum records the assignment and that the original lease terms remain in effect.
The board approved a memorandum of land-lease assignment acknowledging Verizon Wireless’s (Bell Atlantic Mobile Systems) plan to assign its tower lease to VerticalBridge. Budget presenter Mr. Bartlett explained the proposed assignment is administrative and does not change the district’s existing lease terms.
"So this is related to Verizon. ... They plan to assign the tower to a company called VerticalBridge," Mr. Bartlett said, adding that "everything defaults back to the original lease that was agreed upon by both parties." A committee member added that VerticalBridge expects to begin construction in summer and that the timing would not interfere with a busy fall schedule. The board motion to approve the memorandum carried without further amendment.
