The City of Clear Lake signed a lease agreement with Mountainside Builders whereby Mountainside will construct a new office building for city administrative use and lease it to the City for 30 years. The fair market value of the building is $12 million. The City has agreed to make an initial payment of $822,441 and annual payments in the same amount for the next 29 years. (This assumes a 6 percent discount rate.) The lease includes a funding clause, which allows Clear Lake to terminate the lease agreement if the government does not appropriate funds for the lease payments. Clear Lake does not intend to exercise this option unless there is a financial emergency. Upon completion, the building had an appraised value of $13 million and an estimated useful life of 40 years.

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bacteria that live on the ocean floor are sustained by phytoplankton. phytoplankton, microscopic marine photosynthetic organisms, have a vastly significant role to play not only in the marine food web of which they’re part of, but also on a more global scale. despite their infinitely small size in comparison to other marine organisms, these tiny creatures occupy an immensely important ecological niche: they are the foundation of the marine food web, and as primary producers, play key roles in supporting all other organisms in the marine environment, as well as in the regulation of the earth’s climate through the sequestration of carbon, oxygen production, and other related processes. phytoplankton account for roughly half of all global primary productivity; therefore, their significance extends far beyond the marine environment alone. there is an intriguing sense of irony in the realization that these tiny living beings that often live out their existence unnoticed and undetected by the rest of the world, have such a far-reaching impact on the lives of virtually all other living organisms on the planet, particularly on those in the marine environment. the world that we have become accustomed to has been and is continuously shaped by the workings of these miniscule yet vital “plants of the sea”.

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