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Fort Walton Beach Resolution — 65-06-Authorize Contract for Gas District — reading text
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AQ!! I!~! t1.
CC1mes now' the City of Fort. Walton Bea~ h, a municipal cc rpo-
r' ationunder the law~ of the State o..t.... Florida, hereinafter re1"' err'2:( i
tJ as t.he " City" and Hugo Marx and hereinafter referred
Company,
fv''': a:~ the " Agent "., and m.utually' covenant:
1. The City desirea to purchase the natural. gas d1strl buti.: I~
1 stem now
operating in the Ci ty and wishes to employ the. Agent
t,u a~ si~t in negotiations .w.ith the present owners 1:o~ the purchase
of the system. The City hereby agrees that theAgent shall ~ epresent
t,f-.: City :in effort to obtaln
an a price for the purchase of the
lat;J.t' al gas. system now operating. in the City and adjacent theretc'
and the Agent agre:es tOBubmi~ a comprehe.nsi va report of the pro-
pr)~ f~ d acquisition, inc:ludin$ a epecific' detailed plan fo'r the
financing thereof~
2. The City hereby agrees that it will e.~ lqy a , a$ engineer,
at its expense who meets with the approval of. the Agent to give
t~c : ity an appraisal of the present system operating in the City
ctr, fJ
aaJacent thereto. I.,
I~
II " ~, !
f. "., ~ ~, ' Ii'
j' , · "
j. Once the' comprehea.!. e report tor the purohaee of the
system has been obtained, it ~hall be entirely at ~ he discretion
f the City as to whether it is feasible to purchaae the system.
I rl the event they elect not t~ purchase the t~ re Bt.all
system,
be nc further re3r>
onsibl1i~y. on their part and 00 ~ bligation for
payment of any ' expenses incurred by the agent other than for the
expense of the gas ensineer.
4. In the event the City electeto purchase the gas system
from the present owners 8t.~
price, that is satisfactory to the
I
City,
then the City will pass the .DeCttasary ord1.nn
&_, resolutions and
other legal documents that may b. nec. esary tb oon,~ te the pur-
chase of the said gas system
through the 1seuance of revenue bonds
by the. City and' the City -agree., for the Agent to act as their fiscal
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