Agenda Packets - 1997/01/27 - Laserfiche WebLink

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01/23/97 17:32 FAX 7855699 NSC 0003/013 Documents (hereinafter, the"Trustee"). The bond Documents will require that the annual operating budgets for the Facility must include amounts necessary to pay all operating costs and • annual debt service on the bonds.As described under PART III E, below,MASC and the Subdivisions hereto will be obligated to make certain fixed rental payments for a specified amount of ice time in amounts which will cumulatively provide for the payment of all operating and debt service costs of the Facility. It for any reason, (including refusal of a parry to make covenants deemed essential by Anoka County) bond financing is not secured, this agreement shall be void and all of the cash down payments shall be refunded to the parties except for the$5,000 from each of MANS, Blaine and Coon Rapids, receipt of which by MASC is hereby acknowledged as an amount separate from and in addition to the down payment required under this paragraph II. III. FACILITY OPERATION A. OWNERSHIP It is agreed that title to all real property upon which the Facility is to be located or otherwise necessary for the operation or access to the Facility at the NSC will continue be held by MASC. Tide to buildings, fixtures and equipment relating to the Facility under this Master Agreement shall be held as required under the Bond Documents until such time as • none of the Bonds remain outstanding under the Bond Documents. Upon the termination of this Master Agreement, the Facility shall remain under the ownership of MASC. B. LIABILITY For purposes of this Master Agreement, MASC shall be the operator of the Facility and shall be responsible for all operational decisions which may give rise to tort liability by 1111 reason of the operation of the facility. The parties to this Master Agreement shall be liable only for obligations undertaken by them pursuant to this Master Agreement or otherwise provided by contract. MASC may at its sole option and discretion elect to either purchase such insurance as it may choose, or elect to proceed under Minnesota State Tort Liability Act. C. STAFFING MASC will hire, supervise and coordinate all permanent and temporary staff necessary and convenient to operate the facility. For purposes of determining operating expenses,MASC may make such reasonable allocations of the overall expense operation of the National Sports Center expense to the facility as fairly represent the cost of all staff facilities and equipment employed on behalf of or beneficial to the facility. MASC may in its sole discretion delegate the operations of the facility to the National Sports Center Foundation. The disbursement of funds under this Master Agreement and any contracts entered into to carry out the Master Agreement shall be the responsibility of MASC and such powers shall be exercised pursuant to the laws which apply to MASC. MASC agrees that it will nor staff and/or operate any other ice complex(except Columbia) without the consent of the Joint Board established pursuant to part D below (hereinafter referred to as the "Joint Board"). D. POLICY There shall be established pursuant to Minnesota Statutes, Section 471.59, Subdivision 2, a Joint Board consisting of two members appointed by each of Blaine, and • Coon Rapids, and one member selected jointly by the municipalities included in MANS, one member from Ramsey County and four from MASC. Any parry directly obligating itself for Guaranteed Hours, as defined below, under this Master Agreement and who becomes a 3