Laserfiche WebLink
I <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> 4111 OF MOUNDS VIEW: <br /> 1. The City hereby determines and agrees to participate in the financing, construction, operation <br /> and use of the facility, provided that the City's participation shall be in an amount established <br /> by a supplemental agreement between the cities of Mounds View, Arden Hills,New Brighton <br /> and Shoreview. <br /> 2. The City agrees to secure rental income for the Facility in an amount at least equal to the <br /> agreed upon annual hourly rate times its Percentage Share of agreed upon prime time hours <br /> (not less than 2,080)which rent 'income shall be passed through for the purpose of paying <br /> debt service with respect to the bonds and paying operating costs of the Facility. <br /> 3. The agreement to participate in this project is subject to the following conditions: <br /> • <br /> a. Approval of the Master Agreement between the MAWafid all of the participating <br /> communities;. <br /> b. Approval of a supplemental Agreement, including a$500,000 escrow, between the <br /> cities of Mounds View, Arden Hills,New Brighton and Shoreview and the Mounds <br /> View and Irondale Youth Hockey Associations; <br /> c. Approval Of a supplemental Agreement between the cities of Mounds View, Arden <br /> Hills,New Brighton and Shoreview and Ramsey County which includes the County's <br /> $500,000 capital contribution for the project; <br /> d. Review of the final agreements by the City's Finance Director and financial advisor to <br /> determine that there will be no negative impact to the City's bond rating; <br /> e. Participation in the project by the cities of Arden Bills,New Brighton and Shoreview; <br /> and <br /> f. Financial commitment from communities for all four sheets of ice at the National Sports <br /> Center. <br /> Adopted this 23rd day of September, 1996 <br /> ATTEST: <br /> Mayor Linke <br /> 411 Clerk Administrator Chuck Whiting <br /> (SEAL) <br />