Victorian Consolidated Legislation

Land (Goonawarra Golf Course) Act 1988 - SECT 4

Sale of Goonawarra Golf Course

4. Sale of Goonawarra Golf Course



(1) The Director of Housing, as successor of the Housing Commission of
Victoria, is by this section authorised to sell the Goonawarra Golf Course to
the Municipality on terms determined in accordance with this section.

(2) The Municipality is by this section authorised to purchase the
Goonawarra Golf Course on the terms determined in accordance with this
section.

(3) The terms of a sale authorised by this section are-

   (a)  if the sale occurs not later than 3 months after the date of
        commencement of this Act-

   (i)  a consideration to be agreed between the Director and the
        Municipality, but not being more than $800 000, payable in equal
        annual instalments spread over 25 years, interest free; and

   (ii) any other terms agreed between the Director and the Municipality; or

   (b)  if the sale occurs more than 3 months after the date of commencement
        of this Act-

   (i)  a consideration to be determined by the Valuer-General at the request
        of either the Director or the Municipality having regard to the market
        value of the land; and

   (ii) any other terms agreed between the Director and the Municipality.