209.94
RESOLUTION AUTHORIZING EXECUTION OF STIPULATION AND ORDER MODIFYING
ORDER FIXING TIME FOR ASSUMPTION OF EXECUTORY CONTRACT
RESOLUTION NO. 209, 94
INTRODUCED BY: Mr. Nick Caimano
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. Fred Champagne
WHEREAS, Hiland Park a New York Limited Partnership D/B/A/ Hiland
Golf Club and the Town of Queensbury heretofore entered into a
certain Executory Agreement dated September 23, 1991, which
pursuant to the Order of the United Stated Bankruptcy Court for the
northern district of New York of December 23, 1993 was deemed to be
rejected effective April 29, 1994 unless prior to said date the
Executory Contract was assumed, and
WHEREAS, the Town of Queensbury is desirous of agreeing to an
extension of time and entering into a Stipulation and Order
Modifying the Courts prior Order Fixing the Time for Assumption of
Executory Contract,
NOW THEREFORE BE IT
RESOLVED, that the Town of Queensbury hereby authorizes its
Attorneys to stipulate and agree to a Stipulation Modifying the
Order Fixing the Time for Assumption of the Executory Contract
referred to in the preambles of this resolution on the following
terms and conditions:
1) That an extension of time be given until May 30, 1994 and
that if a contract is executed between the debtor and a potential
buyer or investor in the property before May 30, 1994 a further
extension of time will be agreed to of thirty days upon evidence of
such contract.
Duly adopted this 18th day of April, 1994, by the following vote:
Ayes: Mrs. Monahan, Mr. Caimano, Dr. Wiswall, Mr. Champagne
Noes: None
Absent:Mrs. Pulver