Magnolia Meadows purchased

Published 4:07 pm Tuesday, August 19, 2008

The city’s 50-acre executive golf course has been purchased again, after M&F Bank took the course over in June.

Magnolia Meadows clubhouse manager Fred Payne and course superintendent Wade Nielson formed Double Eagle Development LLC to purchase the course from the bank Aug. 11.

Both men worked for course founder Jeff Falkner, who died in January 2007.

“Since Jeff’s death, we’d gone through so many changes that when the opportunity presented itself we decided we’d do it ourselves as opposed to going through change after change,” Payne said.

The course has been possessed by the bank twice since the family ran it after Falkner’s death.

Nielson and Payne credit Wayne Rasco as the driving force behind them forming the LLC.

“The main thing is we didn’t want the town to be without a golf course,” said Rasco, who serves as president of Double Eagle’s advisory board. “I think the town needs it.”

The course is accepting memberships and is open to play. No rate changes are expected.