Laserfiche WebLink
ARTICLE IX- STATE BOND FINANCE PROPERTY <br /> ACKNOWLEDGEMENT AND COMPLIANCE <br /> The City and YMCA acknowledge that funding for a portion of the Community Center <br /> was obtained through a grant from the State of Minnesota's Department of Children, Families <br /> and Learning, and as such, the Community Center is considered state bond financed property. <br /> The following requirements contained within this Agreement are included to satisfy the state <br /> bond finance property requirements of Minnesota Statutes Section 16A.695 for Use Agreements, <br /> to comply with the requirements contained in the G.O. Compliance statutes, and pursuant to the <br /> Commissioner's Order. <br /> A. Entity Status. The City is defined as a public entity organized as a charter city pursuant <br /> to Minnesota Statutes Chapter 410, and is thus, a Minnesota municipal corporation. <br /> B. Community Center Ownership. The Community Center is owned solely and <br /> completely by the City of Mounds View. <br /> C. Agreement Authority. The City has entered into this Agreement with the YMCA <br /> pursuant to Minnesota Statutes Section 471.15 and the City of Mounds View Municipal <br /> Charter and Municipal Code. <br /> D. Governmental Program. This Agreement is (i) being executed and entered into to carry <br /> out a Governmental Program, (ii) such Governmental Program is the City of Mounds <br /> View Parks and Recreation Program, including the operation of the Community Center <br /> and its accompanying facilities, as well as the parks within the City and general <br /> recreational programming within the City; and (iii) such Governmental Program <br /> constitutes the Mounds View Parks and Recreation Program and is authorized pursuant to <br /> Municipal Charter Section 6.02, Subdivision 1, Municipal Code Section 106.05 and <br /> Chapter 405, and Minnesota Statutes Section 471.15. <br /> E. Governmental Program Oversight. Oversight of the Governmental Program by the <br /> City is provided by the requirement, hereby agreed to by the parties that the YMCA <br /> provide City the right to inspect and audit YMCA's books and records for its portion of <br /> the governmental program, with each such review to show the program budget, revenues <br /> and expenses. <br /> F. Term of the Use Agreement. As the Community Center consists of land and buildings, <br /> the term of this Agreement as provided herein relating to the building and improvements, <br /> and including all renewals which are solely at the option the YMCA, is for a period of <br /> time which is less then 50% of the useful life of the Community Center. <br /> 11 <br />