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SEP-13-1996 14:53 CITY OF SHOREVIEW <br /> P.07/09 <br /> EXTRACT OF MINUTES OF MEETING OF THE <br /> S CITY COUNCIL OF SHOREVIEW,MINNESOTA <br /> HELD SEPTEMBER 16, 1996 <br /> Pursuant to due call and notice thereof, a meeting of the City Council of the City <br /> of Shoreview, Minnesota, was duly called and held at the Shoreview City Hall in said <br /> City on September 16, 1996 at 7:00 p.m. The following members were present: <br /> and the following members were absent:. <br /> Member introduced the following resolution and moved its adoption. <br /> Resolution 96-109 <br /> CITY OF SHOREVIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION APPROVING PARTICIPATION IN <br /> FINANCING, CONSTRUCTION AND OPERATION OF A <br /> FOUR SHEET ICE FACILITY <br /> WHEREAS, the City of Shoreview("City")has determined a need to provide its <br /> residents with access to an indoor ice arena intended to be used predominantly for youth <br /> athletic activities; and <br /> WHEREAS,the Minnesota Amateur Sports Commission("MASC") proposes to <br /> construct and operate a facility consisting of four olympic sized ice sheets and related <br /> Facilities (the"Facility")on the property of the National Sports Center located in Blaine, <br /> Minnesota; and <br /> WHEREAS, the City has been offered the opportunity to participate in the <br /> construction of and operation of the Facility, thereby obtaining a priority right to schedule <br /> • ice time with respect to the ice surfaces at the Facility; and <br /> WHEREAS,the financing of the Facility will be undertaken by the issuance of <br /> revenue bonds of the Anoka County Housing and Redevelopment Authority(the <br /> "HRA"), the proceeds of which will be used to acquire a general obligation bond of <br /> Anoka County,Minnesota(the"County"); and <br /> WHEREAS,the County is required,as a condition to issuance of its general <br /> obligation bonds,to receive an analysis provided by a professional experienced in <br /> finance, supporting a finding that the Facility's revenues and other available money will <br /> be sufficient to pay debt service with respect to the bonds; and <br /> • <br />