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<br />RESOLUTION NO. 2008-J1:11 <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY <br />OF SUNNY ISLES BEACH, FLORIDA, APPROVING AN <br />AGREEMENT FOR CHARITABLE GIFT BETWEEN THE <br />CITY OF SUNNY ISLES BEACH AND RAANAN KATZ IN <br />THE AMOUNT OF $525,000.00 AND NAMING THE <br />GYMNASIUM LOCATED AT THE PELICAN COMMUNITY <br />PARK THE "RAANAN AND PHYLLIS KATZ SPORTS <br />CENTER" IN ACCORDANCE WITH EXHIBIT "A" <br />ATTACHED HERETO; DIRECTING THE CITY MANAGER <br />OR DESIGNEE TO COMPLY WITH THE TERMS AND <br />CONDITIONS OF THE A TT ACHED EXHIBIT "A"; <br />PROVIDING THE CITY MANAGER AND CITY ATTORNEY <br />WITH THE AUTHORITY TO DO ALL THINGS NECESSARY <br />TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, the City of Sunny Isles Beach, Florida (the '"City") received a philanthropic <br />offer from Raanan Katz to name the gymnasium located at the Pelican Community Park, 18115 <br />North Bay Road, the "Raanan and Phyllis Katz Sports Center"; and <br /> <br />WHEREAS, Raanan Katz and the City have agreed to enter into a Revised Letter <br />Agreement for Gymnasium Naming Rights, wherein Raanan Katz will pay the sum of <br />$525,000.00 (Five Hundred and Twenty Five Thousand Dollars) to the City over a seven year <br />period, with yearly payments of$75,000.00 (Seventy Five Thollsand Dollars); and <br /> <br />WHEREAS, the specific terms and conditions of the Revised Letter Agreement are <br />outlined in the attached Exhibit "A". <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Directive to the City Manager. The City Commission hereby directs the City <br />Manager or designee to comply with the terms and conditions of the Revised Letter Agreement, <br />attached hereto as Exhibit "A", and to schedule a dedication ceremony at a convenient time. <br /> <br />Section 2. Authorization of City Manager and City Attorney. The City Manager and the <br />City Attorney are hereby authorized to do all things necessary to effectuate the terms of this <br />Resolution. <br /> <br />Section 3. <br /> <br />Effective Date. This Resolution will become effective upon adoption. <br /> <br />Resolution No, 2()()i{ - <br /> <br />.\ccl'pting l)nn:uion from Ra~lI1;lll t-:.ati', <br /> <br />P,lP;L' 1 of.2 <br />