HomeMy WebLinkAboutCC 1981-12-10 Discussion ItemCITY Ot MIAM1, FLORI6A
INtER-OFI=(CE fv r=MORANCIUM
�Cc Ralph l!. Ongie DATE: December 10, 1081 FILE:
City Clerk
Cesar H. Odio
FROM:
Assistant City Manager
SUBJECT: Transfer of storks
Biscayne Recreation Development Co.
REFERENCES:
Memo from C. H. Odio to City Manager
ENCLOSURES: 10/30/81
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In regard to the question of Biscayne Recreation Development Company
(BRD) stocks and whether I ever got myself involved, I want to clarify,
for the record, that I met with Gene Hancock, who informed me that he
had made deals on stocks of the aforementioned company. My reply to
him was that they would violate their agreement with the City of Miami
if they did not request prior approval from the City Manager for any
such transference.
Any other conversation regarding BRD stocks was in relation to
receiving written request from stockholders of that company for trans-
fer of stocks, of which I promptly advised the City Manager, requesting
his approval.
cc: Mayor Maurice Ferre
Howard V. Gary, City Manager
city Manager
SUSJECt transfer of stocks, W
Cesar H. bdi o
FROM Assistant City Manager REFERENCES:
.I
ENCLOSURES:
The attached letter from Biscayne Recreation Development Co. advises me
that two of the company's stockholders are desirous to transfer owner-
ship and control of their shares, an act which requires the City Manager's
approval.
Even though it seems that the stock transfer was being carried out prior
to your approval, the company's attorney assures me that the actual transfer
in the books is awaiting your consent.
The recipient of these shares would be Mr. Eugene Hancock, owner of Marine
Stadium Enterprises. An audit is pending on the current operations of
Marine Stadium Enterprises, and I recommend that we wait to review the
results of the audit prior to your approving the transfer.
I have been assured by Bill Harrison that the audit will be available next
week.
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DEVELOPMENT COMPAN.
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October
28 j 1981 anw+e:�aos�e�zs+
City Manager, City of Miami
Attention: -Mr. Cesar Odio
:.
Assistant City Manager
3500 Pan American Drive
:Miami, Florida 33133
Dear Mr. Odio:
I am advised that the following shareholders of Biscayne -
Recreation Development Company desire to transfer ownership and
control of their shares as follows:
Manley H. McAdam - 10,000 shares
to Mr. Eugene Hancock
Robert M. Traugott - 2.1,000 shares
to Mr. Eugene Hancock
Please be advised that no transfer of shares or interests has taken
place cognizable by the corporation or which is binding on the
corporation in any way. Additionally, under the provisions of
Paragraph 33 of the Management Agreement, any transfer or con-
veyance of stock to parties who are not stockholders requires the
City Manager's prior approval. Accordingly, the purpose of this
letter is to ask whether the City Manager will approve the above
proposed assignments or transfers.
Thank you for your courtesies.
Very truly yours,
BISCAYNE RECREATION
DEVE MENT COMPANY
By
aul S. Walker, President
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