Res 1069-57 I~ESOLUTION NO. 1069
A RES0LUTI01~ A~IlgNDING SECTION 5 (c) AND 5 (f)
OF A RESOLUTI01~ NO. 1065 OF THE CITY COUNCIL
OF DELBAY BEACtt FLORIDA, BY PR0¥IDING SAID
LANDS $IiALL BE USED AS A GOLF COURSE FO[[ FIFTY
(50) Y!?.ARS, AND KEQUIRING THE HIGHEST BIDDER
TO DEPOSIT TgE A~i0UNT OF ltlS BID AT CLOSE OF
AUCTION; AND I1ESER¥ING RIGHT OF PURC~ASEo
BE IT BESOLVED BY THE CITY COUNCIL OF TBE CITY OF DELRAY BEACH
~0RIDA:
That Section 5 (c) of Resolution No° 1065 be amended to
*ead:
5o (c) The conveyance shall be by fee s~mple deed and bill
of sale, executed in accordance with law and the
requirements of City Charter. The deed shall con-
tain the Following clause:
sit is distinctly understood and agreed that the
above property will be used by the grantee herein
as a golf course and recreation area for a ter~ of
f~fty (50) years from the date hereof; however,
nothing herein contained shall mean that such grante.
may not prescribe such rules and regulations as he
may deem necessary and proper in operation of a
private golf course for non-public purposes. Provided
further, however, and this conveyance is made subject
to and upon the express condition that should the
grantee cease to use the foregoing land for golf
course and recreational purposes within fifty (50)
years from the date hereof, then in that event the
title to said property shall revert to and vest in
the City of Delray Beach, Florida, aM its successors
and assigns, and~ the City of Delray Beach, Florida,
as a part of the consideration for this conveyance
hereby reserves the right and option to re-purchase
all the property hereby conveyed from the grantee,
his heirs, assigns or successors during the 25th
year following date of sale.
In the event the City elects to exercise the option
herein reserved, the price to be paid. shall be
terra,ned as follows: The C.~ty shall pay the amount
paid by the grantee herein ~representing original
capital investment), plus the value of any capital
improvements subsequently made, such value to be as
of date of exercise of such o~ption, plus interest at
the rate of four per cent (4~) per annum upon the
original capital investment.~
2o That Section 5 (f) of Resolut[on No. 1065 be amended to
'e ad:
5. (f) The hi~hest bidder at such auction shall pay the
amount of his bid at the close of auction, ~hich
money shall be deposited in an authorized depository
of the City of Delray Beach and held separate and
apart From other f~nds of the City pending final
acceptance of such bid by the City and further terms
of Resolution No. 1065 or other action of the City
Council. It is further understood that said bid
shall be net to the City of Delray Beach, and the
successful bidder, on consummation of sale, will be
obligated to pay the recording costs including docu-
mentary stamps.
PASSED AND ADOPTED in Regular Session this 9th day of September
. .........
RESOLUTION NO, 1009
A ~O~.~T~O~ ~~ S~CTIO~ 5 (c) ~D 5 (~)
OF A ~LUTI~ NO. 10~ ~ T~ CI~ ~UNC~
OF ~Y ~H ~DA, BY P~Y~l~
(50) ~, ~ ~~ ~ al6~T
~ ~SIT T~ ~~ OF als BID AT ~Sg OF
~ION; ~ ~~ ~G~ OF ~RC~.
~ IT ~SOL~ BY T~ CI~ CO~C~ OF ~ CI~ OF
~OR~A:
· ~:
6. (e) The eonvey~ee ~all be by fee a~ple ~e~ ~d bill
e~ sale, ez~mt~ ~ ~~ee with law
reqal~ntm er Clty ~arter. ~e deed ~all een-
ta~ ~e ~eXl~g clause:
· It la dimt~etly ~dersteod a~ agreed t~t the
above p~perty ~11 be used by ~e grantee hereln
am a gm~ e~rme ~ ~ereatien area ~or a te~
~ty (50) years ~ the ~te ~or; however,
no~ herein ~nt~ned ~11 mean that mu~ grante.
~y net premerl~ much ~lem a~ re~lationm as he
may de~ ~eemm~y ~d p~per in operation e~ a
private golf course ~or non-public purpemem. Provide~
r~er, however, ~ this convey~ee Is ~de mubJeet
to ~d upon ~e express condition ~at should
gr~tee eeame ~ use ~e ~ere~ing
eo~rse ~ recreatle~l p~pemea wi~ln fifty (50)
years ~m the date heremf, ~en In that event ~e
title to maid p~perty shall revert te
~e City o~ Delray Bea~, FXm~da, ~ its successors
~d asmlgnm, ~d, ~e ~lty mr DeX~y Beach, Plo~da,
aa a part mf ~e consideration rot ~im conveya~e
hereby rese~em the right ~ optl~ ~ re-pure, me
~1 ~e property ~reby eonvey~ ~r~ ~e gr~tee,
him heirs, asm~nm er muccem~rm amrl~ the 25th
ye~ roXlewi~ date o~ sale.
In the event ~e City elects te exorcize the option
he.tn reme~ed, the price ~ be paid ~1 be de-
te~ed am lollers: The City s~ll pay the mount
paid by the grantee herein (reprementl~ erig~
capital invemmnt), plum the value ef a~ capital
lap.resents subsequently ~e, such value
o~ ~te of exercise ef mu~ ~tion, plus interest at
~e rate ~ ~mr per cent (4~ per
origi~l capital invem~ent.'
2. T~t Section 5 (~) o~ ~moXution No. XO~ be mnded
5. (f) T~ hi. est bidder at such ~etA~
~e~t ~ ~ bid at the close e~ auetl~, ~ieh
~y ~X be depemt~ ~ ~ autherZz~ depemi~ry
~ ~e ~lty e~ ~l~ Bea~ ~d
ap~ ~m et~r ~ of the Clty pe~
ae~pt~ee e~ m~h bld by the City ~d r~t~r tern
o~ Resolution Ne. X0~ er et~r aetimn
Co~eZl. It ia r~r ~ermtoed ~at m~d bid
~all be ~t tm ~e City ef ~l~y Beach,
s~eeem~l Mdder, en eonmmtion e~ male, ~lX be
ebXlgat~ ~ pay ~e r~rding cesta ~eXmdl~
~n~ st~s.
P~ ~ ~P~ ~ ~lar ~ssten this 9~ ~y ~ Septe~r