Okaloosa County BOCC — September 3, 2013 — BT-14-02 — reading text

DON W. HOWARD CLERK OF THE CIRCUIT COURT, OKALOOSA COUNTY, FLORIDA DATE: November 5, 2013 SUBJECT: Budget Transfer — Capital Outlay Construction Fund TO: Board of County Commissioners Finance Director Transfer From Department Account Amount Reserve - Future Capital Outlay 3160 599300 $400,000 Transfer To Department Account Amount Land — General Government 3160 561100 $400,000 Dasvid 3 Weary mae: David L. Skarzynski, Budget Manager Budget Transfer: BT-14-02 Reference: Second installment of Meigs Trust settlement was not budgeted during the process due to timeless of the settlement. RepLy To: CourTHOUSE # 101 E. JAMES LEEBLVD. @ CRESTVIEW, FLORIDA 32536-1359 @ (850) 689-5000 BRACKIN BUILDING © 302 NORTH WILSON ST., SUITE 203 CRESTVIEW, FLORIDA 32536 e (850) 689-5000 CourTHOUSE ANNEX e@ 1250 .N. EGLINPKWY @ SHALIMAR, FLORIDA 32579 © (850) 651-7200 ANNEX EXTENSION © 1940 LEWis TURNER BLVD e FT. WALTON BEACH, FLORIDA 32547 e (850) 651-7200 \_! Visit us on the web at _http://www.clerkofcourts.cc for Sanctions, In Part, entered on January 31, 2012; Defendants’/Counter Plaintiffs’ Motion for Costs and Attorney’s Fee served February 2, 2012; and the Plaintiff/Counter Defendant's Motion to Tax Costs served on February 27, 2012 (the “Pending Matters”); and WHEREAS, the Parties seek to resolve all remaining issues in the Litigation and all remaining matters concerning the Deed and the application of the reverter provisions by the Meigs Heirs selling, conveying, releasing and/or relinquishing any and all rights or interests that they may have in the Property or under the Deed. NOW THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, the sufficiency of which is acknowledged by all Parties to this Agreement, they agree as follows: l. RECITALS: The above recitals are true and correct and incorporated herein as essential terms of this Agreement. 2. COUNTY’S OBLIGATIONS: The County shall pay to the Meigs Heirs the total sum of One Million Six Hundred Thousand Dollars, and no cents ($1,600,000.00). Such amounts shall be paid in the following manner: a. The amount shall be paid to the Meigs Heirs by the County in four (4) equal annual payments, b. The initial payment of $400,000.00 shall be paid within thirty (30) days of the approval of this Agreement by all the Parties and the Court. ____ ¢ The remaining three payments of Four Hundred Thousand Dollars ($400,000.00) ——— shall be paid by July 1"' of each year thereafter until paid in full. d. No interest shall accrue on the unpaid balance of this sum. Page 3 of 10