Agenda Packets - 1997/01/27 - Laserfiche WebLink

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01/23/97 17:35 FAX 7855699 NSC 1008/013 • MASC Additional Hours shall be credited equally to the other parties to this • agreement. When MASC sells Fall and Spring hours, all four sheets arc credited equally. In the event that MASC is able to rent ice time for MASC programs in excess of the capacity of the Facilities,MASC shall provide for a preference in rentals to ice rinks owned and operated by Subdivisions and Ramsey County who are a party to this Master Agreement. 3, Major contracts for ice purchases will be submitted to the Joint Board for approval. 4. MASC will provide each party an estimate of the reconciliation between Guaranteed Rental Income and income actually received and projected to be received by year end by December 1, or each year. In the event that any party fails to pay or otherwise provide for the payment of Guaranteed Rental Income as obligated above, such party will pay the difference between income secured and income obligated within 30 days after the year end reconciliation of accounts showing the deficit is presented to each party. F. SCHEDULING AND PROGRAMMING Scheduling and programming policies shall be determined by the Joint Board, except that scheduling may not be inconsistent with this Master Agreement. Each party has sole discretion in scheduling and programming it's priority hours that are not inconsistent with this Master Agreement. G. FINANCING OPERATIONS Appropriate books and records representing the operating revenues and expenses and capital assets and liabilities relating to the facility shall be maintained by MASC. The following reserve accounts shall be maintained. 1. Application of Revenues The following provisions shall apply to revenue generated in connection with the operation of the Facility: (a) The general principle of payment in full before use shall apply to this facility and additional advance payment requirements will be determined by the Joint Board. For extended rentals,such prior payment shall be for such period of time as is determined pursuant to policies recommended by the MASC and approved by the Joint Board. Any party to this Master Agreement may retain any amounts by which the hourly rental rate charged by the party for use of ice time in the Facility exceeds the Guaranteed Hourly Rate. Notwithstanding the provision of this paragraph, it is the intent of the parties that the obligations referred to in paragraph III.E(b) be enforced after the end of each fiscal year and that the prepayments referred to in this paragraph refer only to actual user fees. 4110 (b) Admission income from events sponsored by the parties shall accrue to the respective party. 8