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• <br /> 01/23/97 17:34 FAX 7855699 NSC L 006/013 <br /> Subdivision to assume the obligation for the Guaranteed Hours, <br /> • together with an opinion of counsel to the Subdivision as the validity <br /> of the action of the Subdivision assuming the obligation for the <br /> Guaranteed Hours,with both the resolution and opinion required to <br /> be in the form acceptable to MASC and Anoka County. <br /> MASC may assign its Sheet Hours and its Additional Hours <br /> to any political subdivision authorized by law to assume the <br /> obligations for Guaranteed Hours under this Master Agreement, <br /> including the obligation to levy for Operating Expenses, if necessary <br /> under G(1)(a), upon the filing of a certificate with the Joint Board <br /> and Anoka County executed by the MASC and the subdivision <br /> assuming the MASC obligation,and accompanied by a resolution of <br /> the subdivision to which the Guaranteed Hours have been transferred <br /> authorizing the subdivision to (i) enter into this Master Agreement (if <br /> the subdivision is not already a party to this Master Agreement) and <br /> (ii) assume the obligation for Guaranteed Hours, together with an <br /> opinion of counsel to the subdivision as the validity of the action by <br /> the subdivision assuming the obligation for the Guaranteed Hours, <br /> with both the resolution and opinion required to be in a form <br /> acceptable to Anoka County. <br /> Blaine, Coon Rapids, and any political subdivision not a party <br /> to this Master Agreement on the effective date hereof who <br /> subsequently becomes a party to this Master Agreement, may assign <br /> its Guaranteed Hours to any political subdivision authorized by law <br /> to assume the obligations for Guaranteed Hours under this Master <br /> Agreement, including the obligation to levy for Operating Expenses, <br /> if necessary under G(1)(a), upon (i) the approval of the assignment by <br /> the joint Board and Anoka County,which approval is to be based <br /> upon the financial capacity of the assignor,which approval may not <br /> be unreasonably withheld, (ii) the filing of a certificate with the Joint <br /> Board, MASC and Anoka County executed by the party assigning the <br /> Guaranteed Hours and the subdivision assuming the obligation, for <br /> the Guaranteed Hours, and accompanied by a resolution of the <br /> subdivision to which the Guaranteed Hours have been transferred <br /> authorizing the subdivision to (i) enter into this Master Agreement (if <br /> the subdivision is not already a party to this Master Agreement) and <br /> (ii) assume the obligation for the Guaranteed Hours, together with an <br /> opinion of counsel to the subdivision as the validity of the action by <br /> the subdivision assuming the obligation for the Guaranteed Hours, <br /> with both the resolution and opinion required to be in a form <br /> acceptable to MACS and Anoka County. <br /> c. Budget-- <br /> MASC shall submit a proposed annual budget (hereinafter referred to <br /> as the "Annual Budget") to the Board ac least 120 days before the beginning <br /> 1111 of a new calendar year (hereinafter referred to as the"Fiscal Year"). Such <br /> Annual Budget shall include an hourly rate (the "Guaranteed Hourly Rate") <br /> to be charged for ice sheet rental at a level such that projected Guaranteed <br /> Rental Income, if received,will be adequate to pay all Operating Expenses, as <br /> defined below, and Bond Expenses for the following Fiscal Year. In addition, <br /> 6 <br />