Subdivision, Improvement, Lease, or Sale of Island by Authority - Conditions on Sale of Residential Lots; Sale of Commercial Property; Sale Price; Payment of State's Share Into State Treasury

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  2. Georgia Code
  3. Conservation and Natural Resources
  4. Parks, Historic Areas, Memorials, and Recreation
  5. Public Authorities
  6. Jekyll Island-State Park Authority
  7. Subdivision, Improvement, Lease, or Sale of Island by Authority - Conditions on Sale of Residential Lots; Sale of Commercial Property; Sale Price; Payment of State's Share Into State Treasury

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  1. The authority shall not sell any residential lot unless obligated to do so under the terms of a valid lease agreement entered into prior to May 30, 2007, and such a sale shall be made only to the person who shall hold such lease, his or her assignee, or assigns. No conveyance of the fee simple title to any residential lot shall be made until the lessee of such lot has performed all the obligations regarding the improvement and erection of structures on the lot as are imposed by the lease.
  2. The authority shall not sell any commercial property on which improvements were erected prior to March 1, 1957; and the authority shall not sell any other commercial property unless obligated to do so under the terms of a valid lease agreement entered into prior to May 30, 2007, in which event the commercial property may be sold in the same manner as provided by this part for the sale of leased residential lots.
  3. All sales of residential lots and commercial property shall be made at the conversion price set by the authority in accordance with Code Section 12-3-250, provided that any person who purchases any residential lot sold by the authority shall be entitled to credit on the purchase price to the extent of all payments made by him or his assignors or predecessors in interest on such lease, provided that such credit shall not exceed the purchase price of such lot. If such credit shall equal the purchase price for such lot, the lessee shall be entitled to a conveyance of the fee simple title to such lot, and the authority shall thereupon pay into the state treasury an amount equal to the value of the state's interest in such property as determined as provided in Code Section 12-3-249.The authority shall establish proper reserves to ensure that funds will be available for such purpose.
  4. No credit shall be allowed to purchasers of commercial property for any prior rental payments.

(c.1)On and after May 30, 2007, the authority shall not enter into, extend, or renew any agreement providing for the sale of any residential or commercial lot on Jekyll Island, and Code Section 12-3-250 shall not apply to any new, extended, or renewed agreement.

(Ga. L. 1957, p. 608, § 3; Ga. L. 2007, p. 711, § 9/HB 214.)

Code Commission notes.

- Pursuant to Code Section 28-9-5, in 1996, "ensure" was substituted for "insure" in the last sentence of subsection (c).

Pursuant to Code Section 28-9-5, in 2007, "May 30, 2007" was substituted for "the effective date of this Code section" in subsections (a), (b), and (c.1).

Editor's notes.

- Ga. L. 2007, p. 711, § 1/HB 214, not codified by the General Assembly, provides: "The Georgia General Assembly finds that Jekyll Island is home to some of the state's most treasured natural and cultural resources and it is the expressed intent of this body to ensure the preservation of these resources for the enjoyment of all Georgians now and for future generations to come. For this reason, the state shall continue its commitment that not less than 65 percent of the land area of Jekyll Island which lies above water at mean high tide shall remain undeveloped. Jekyll Island proudly displays one of Georgia's largest stretches of barrier island property. It is the expressed intent of this body that the beach areas of Jekyll Island will remain free and open for the use of the people of the state. Commercial improvement is intended to better existing and future development of the remaining 35 percent of Jekyll Island while retaining public access to the beaches for the pleasure of all of Georgia's citizens. The General Assembly further finds that the deteriorating conditions of public and commercial facilities is of great interest to the legislature and to the public and that by significantly extending the existing lease authority for the island's property, the state will thereby help to secure and encourage future investments and provide a basis for long-term revitalization of the island. Jekyll Island is recognized by this body as 'Georgia's Jewel,' and its remarkable beauties are hereby preserved so that they may continue to shine for all citizens of Georgia."

RESEARCH REFERENCES

Am. Jur. 2d.

- 63C Am. Jur. 2d, Public Lands, § 64 et seq.

C.J.S.

- 73B C.J.S., Public Lands, § 249.


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