HomeMy WebLinkAbout1996.01.22 OPGA MinutesEd Sokolosky
Bob Oldefest
Tom Rikkola
Rodney Ray
Sherry Bishop
Also present were Keith McDonald of Leo Oppenheim Co, Warren Lehr and Sam Swanson.
The Owasso Public Golf Authority met in a special session on Monday, January 22, 1996 at
5:00 p.m. in the Owasso City Hall Conference Room per the Notice of Public Meeting and
Agenda called by the Chair at 5:45 p.m. on January 9, 1996 and posted on the City Hall bulletin
board at 4:30 p. m. on Friday, January 19, 1996.
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Mr Ray distributed a list of items relating to the management contract between Golf Resources
Inc and The Owasso Public Golf Authority (attached). The items contained in the list were
agreed to by Mr Swanson and Mr Ray, subject to final approval of both parties and the attorneys
for both parties. Tom Rikkola moved, seconded by Bob Oldefest, to accept the concept that was
presented. Motion carried 4 ®0.
Mr Ray also distributed a letter that had been sent to TFC Textron regarding the lease /purchase
payment schedule for equipment.
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An executive session wasn't needed.
Owasso Public Golf Authority
Minutes of January 22, 1996
Page 2
Ed Sokolosky moved, seconded by Bob Oldefest, to adjourn. Motion carried 4-0 and the
meeting was adjourned at 6:43 p.m.
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M6rci,Bo-ut e-1-1, X-u-t-&6r-ity Secretary
THE FOLLOWING ITEMS AGREED TO SUBJECT TO FINAL APPROVAL OF BOTH
PARTIES AND PARTIES' ATTORNEYS AS TO WORDING.
1. Operator will waive all fees from January 1, 1996 through July 31, 1996, subject to
extension of contract approved and agreed to by both parties.
2. Contract negotiations will be initiated March 15, 1996, with a deadline of completing all
negotiations on or before May 10, 1996.
3. If operator is not retained through successful contract negotiations, owner is liable for
$17,750 in fees that were waived for period January 1, 1996 through July 31, 1996.
4. December 1995 fee ($5,000) will go on books as a payable, but demand for payment will
not be made until funds are available, or not later than July 31, 1996.
5. Reimbursement for merchandise previously sold, and December reimbursable expenses
not paid to Golf Resources, will go on books as payable; one -half payment for such
reimbursement and merchandise sold will be on March 30 and the remaining one -half of
April 30.
6. Owner agrees that, in the event there is not an extension of the management contract,
owner will purchase all golf shop merchandise at 100 % of cost. Such purchase to occur
no later than July 31, 1996, and in no case will purchase exceed 110% of the inventory
as of July 31, 1995.
7. Reimbursement for future merchandise sales and direct reimbursable expenses between
January 1, 1996 and July 31, 1996 will be made on a monthly basis.
S. City and Authority officials will meet with, and solicit, a cash donation for emergency
use from the Bailey Trust. Such solicitation to be for a minimum of $50,000.
NOTE: (1) OPGA owes GRI approximately $10,000 for reimbursement of revenue
derived from the sale of merchandise through December 31, 1995.
(2) GRI will waive $17,750 in fees from January 1, 1996 through July 31,
1996.
(3) Total fee due GRI if contract not extended is $22,750.
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