Agenda Packets - 1996/06/03 - Laserfiche WebLink

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CITY NEW BRIGHTON TEL :6382044 Apr 26 '96 12 :36 No .017 P .01 • NATIONAL SPORTS CENTER ICE ARENA DRAFT MASTER ACREEMENT April 26, 1996 • The patties agree as follows: L PURPOSE The purpose of this agreement is to enable the construction and operation of a facility consisting of four olympic sized ice surfaces and related facilities on the property of the National Sports Center, 1700 105th Avenue NE, Blaine, Minnesota. This agreement is intended to govern the rights,obliga- tions and conduct of the"parties"(as hereinafter defined)with respect to the construction,operation and financing of the facility. "Parties"consisting of more than one entity may have agreements among one another not inconsistent with this agreement It is understood that the bonding authority may require certain covenants in connection with the,financing of the facility_ Such covenants, to the extent inconsistent with this agreement take precedence over this agreement. This agreement is authorized and executed pursuant to Minnesota Statutes Section 411.59. II. PARTIES The five parties to this agreement are: �f { (1) }City of Moundsview,City of Arden Hills, City of New Brighton,City of Shoreview and School District 4011, hereinafter"MANSS." //.,,‘...j ��1ac-��, ' u..:.f• c.r ,.ir., /�+ f...l (2) City of Blaine, hereinafter"BLAINE." • (3) City of Coon Rapids,hereinafter"COON RAPIDS." (4) City of Forest Lake, City of Spring Lake Park,hereinafter"FOSLP." (5) Minnesota.Amateur Sports Commission,hereinafter"MASC." II. TERM This agreement shall be effective as of the date set forth above, and shall terminate on the later of the first day of January of the year 20 years following the date on which the bonds sold to finance the arena are issued and delivered or the day following the final maturity date of the bonds. IV. FINANCING It is contemplated that the construction and related cash costs of the facility will be approximately S8,000,000.00 (eight miihon dollars) and that these costs will be borne by the parties as follows: • DOWNPAYMENT Emit PARTY except MASC will pay to MASC n dowapayment of$500,000 (five hundred thousand dollars) in cash as described in PART IV below. It is agreed that the MASC contribution of land and related facilities goods and services described in Exhibit.�constitute its entire obligation under the downparnemt portion of FINANCING. Post-it'Fax Note+ ,.76/71 D�,a/j pages► ToG i1 fill tw/� '`��1 from/ / CoJDep� 1 Co. Phone N Phone# Fax* Fax