1

January 3rd, 1978.

for the predicament in which the Golf Course operation now found itself, but indicated they saw no way in which the City could be of assistance.

Moved by Alderm:nu Ranger:

Seconded by Alderman Keryluk:

That the report of the Planning and Zoning Committee, December 28th, 1977 recommending rejection of Option No. I as set forth on Page 3 of the PoCo Valley Golf and Country Enterprises Ltd. letter of December

22nd, 1977 be approved.

Carried.

Moved by Alderman Ranger:

Seconded by Alderman Mabbett:

That the report of the Planning and Zoning Committee, December 28th, 1977 recommending rejection of Option No. II and Option No. ‘ITT as set forth on Page 3 of the PoCo Valley Golf and Country Enterprises Ltd. letter of December 22nd, 1977 be approved.

Carried.

Moved by Alderman Ranger:

Seconded by Alderman Laking:

That the report of the Planning and Zoning Committee, December 28th, 1977 recommending rejection of Option IY as set forth on Page 3 of the PoCo Valley Golf ani Country Enterprises Ltd. letter of December 22nd, 1977 be approved.

Carried.

Administrator From the City Administrator December 30th, 1977 advising that the 30/77 re

Valley Trustees for the PoCo Valley Golf and Country Enterprises Ltd. have Club -

: Offer to received an offer to purchase the facility for $900,000: 39 and that as ‘|purchase

the City has a Right of First Refusal Option registered agaiust the Golf Club lands and having been notified of the pending sale the Council has thirty days in which to decide whether or not it wishes to exercise the Option.

Moved by Alderman Ranger:

Seconded by Alderman Keryluk:

That the Option to purchase the PoCo Valley Golf Club in the amount of $900,000.00 as advised by the Receiver-Manager in his letters of

December 2nd and 15th, 1977 not be exercised.

Carried.