Resolution 82-16932 RESOLUTION NO. 82-16932
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, APPROVING A FIFTY PER-
CENT (50%) SETTLEMENT WITH THE TRUSTEE/RECEIVER
OF THE FONTAINEBLEAU HOTEL CORPORATION FOR ALL
UNPAID RESORT TAX AND WATER BILLS OWING TO THE
CITY.
WHEREAS, the Fontainebleau Hotel declared bankruptcy in
October , 1977 , and
WHEREAS, at that time the Fontainebleau Hotel Corp. owed
to the City $50 ,997 . 00 in resort tax payments and $25 ,783 . 27 in un-
paid water bills for the year 1977 , and
WHEREAS, as a result of the hotel going into receivership,
the trustee has agreed to pay fifty percent (50%) of such bills as
settlement of the predecessor corporation' s debts to the City,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, that the City Commission approves
the settlement of all amounts owed by the Fontainebleau Hotel Corpo-
ration to the City by accepting fifty percent (50%) payment of all
amounts as a full and final settlement of all claims by the City
against the hotel .
PASSED and ADOPTED this 17th day of February , 1982.
Mayor
Attest:
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City Cl k
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APPROVED
LEGAL DEPT.
By irn- `-43u;449
Date l - 24 _ t
OFFICE OF THE CITY ATTORNEY - 1700 CONVENTION CENTER DRIVE -MIAMI BEACH, FLORIDA 33139
64 S ja:agn (Mad
F L O R I D A
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COMMISSION MEMORANDUM NO. 77-82
DATE: 2/3/82
TO: Mayor Norman Ciment and
Members of the City Commission
City Manager Harold T. Toal
FROM: Office of the City Attorney
SUBJECT: SETTLEMENT OF ALL CLAIMS BY CITY
AGAINST FONTAINEBLEAU HOTEL CORP.
In October , 1977 , the Fontainebleau Hotel Corporation declared bank-
ruptcy. At that time the Corporation owed the City of Miami Beach
$25,783 . 27 in unpaid water bills and $50,997. 00 in unpaid resort tax
bills for the year of 1977 totalling $76 ,780. 27 .
As a method of settling these claims, the receiver in bankruptcy has
agreed to pay off all debts for 50 cents on each dollar. Thus the set-
tlement with the hotel involves collection of $38 ,390. 14 .
In order for this settlement to be approved by the Court, the Commission
must officially approve it, thus the attached resolution was prepared
for Commission approval.
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