02/08/2006 Council Packet - Laserfiche WebLink

Home Search

(exclusive of certain time allocated to MASC). Each cities percentage of 1340 hours is proportionate to their percentage contribution towards construction. 2) The Cities hereby appropriate $100,000 dollars to be applied to costs of construction and financing of the Facility as follows; City of Lino Lakes appropriates $72,000. City of Centerville appropriates $16,000 City of Circle Pines appropriates $12,000 The City of Lino Lakes pledge may be funded in 2006 or 2007 or in combination and at the sole discretion of the City of Lino Lakes. 3) The Cities agree to support rental income for the Facility in an amount equal to the agreed upon annual hourly rate times its Percentage Share of agreed upon prime time hours (not less than 1340 hours) which rental income shall be passed though for the purpose of paying debt service with respect to the bonds and paying operating costs of the Facility. To the extent that actual revenues of the Facility, after application to payment of debt service and accumulation and maintenance of required reserves, are inadequate to pay operating costs of the Facility, the City agrees to pay the amount equal to the unsold hours on its designated sheet of ice. In any given year of the 20 year bond repayment period, the City obligation shall be limited to the unsold hours on its designated one ice sheet in the high season of September, October, November, December, January, February and March. 4) The ice sheet rights shall be granted to the Centennial Youth Hockey Association. In addition, CYHA and the National Sports Center are committed to continue the public access policy of the Super Rink and expansion to offer Centennial area skaters programs such as pubic skating, senior skating, learn to skate, and figure skating. 5) The Mayor and City Manager of the City are hereby authorized to execute an agreement with MASC and NSC including terms specifically authorized hereby, and such other terms as are not inconsistent therewith, and are necessary and appropriate to provide for the financing, construction, operation and use of the Facility, all as determined by the Mayor and City Manager in their discretion. Execution by the Mayor and City Manager shall be evidence of such determination. Adopted by the City Council this _ day of January 2006. Mayor