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81-ERESOLUTION i~O. 81-~ A RESOLUTION OF THE CITY OF BOYNTON BEACH, FLORIDA, REQUESTING A TWO-YEAR EXTENSION OF THE AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND PALM BEACH COUNTY RELATING TO A PROPOSED CITY, oF B0¥NTON BEACH GOLF COURSE AND THE ~IT¥ OF BOYi~TON BEACH WILL CONSTRUCT A CITY GOLF coURSE THEREON. WHEREAS, PaLm Beach County and the City of Boynton Beach heretofore entered into an agre'ement wherein Palm Beach County agreed to contribute approximately 150 ac~es of land to the City for the construction of a City of Boynton Beach~ Golf Course. WHEREAS, said agreement provides that "all rights created hereunder, of whatever nature, shall terminate, cease and be at an end and will be null and void upon the occurrence of the following: within two and one-half (2 1/2) years from the date of this agreement, the City fails to complete a feasibility and development study for ~se of the property as a public golf course; within two and one-half (2 1/2) years from the date of this agreement, the City fails to give the formsl and final approval to proceed with a bond issue for financing of the golf course; at any time the City indicates it will not proceed or abandon~?~lams~%o~,p~oce~dwith development of the golf course; after construction, at any time the City indicates that it will no longer operate and maintain the Property as a public golf course, or for any reason fails to ~do so; e. the City violates any other covenant or provision of this a~reement." f WHEREAS, there are come complications in connection withI obtaining a right-of-way for construction of an access road further complicated by the current level of interest rates in the bond market. WHEREAS, the City of Boynton Beach as a result of said complications requests that the County Co~mission extend the period of time that the City of Boynton Bench has to cOmmence construction for an additional two years. NOW, THEREFORE, BE IT RESOLVED BY TEE CITY COUNCIL OF THE CITY OF BOYNTON BEACH, FLORIDa: That the current Lease Agreement be amended to allow for four and one-half (4 1/2) years in Section 5 instead of two and one-half (2 1/2) years. PASSED AND ADOPTED THIS _~ day of February, 1981. CITY OF BOYNToN BEACh, FLORIDA ATTEST: City Clerk By Mayor (Corp. Seal) -2-