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who becomes a party to this Master Agreement shall be entitled to replace one of the <br />members of the Joint Board with its own representative for each one thousand forty (1,040) <br />Guaranteed Hours assumed from aparty to this Master Agreement assigning the Guaranteed <br />Hours. The Joint Board shall exercise such powers as are set forth in this agreement or <br />required under the Bond Documents, including: <br />Adopting bylaws governing its process and procedures. <br />2. Establishing procedures for the fair and equitable exercise of rights relating to <br />this agreement. <br />3. Approval of an annual operating budget consistent with this Master <br />Agreement and the Bond Documents. <br />4. Establishing fair and equitable use and programming policies and procedures <br />not covered by and not inconsistent with this Master Agreement and the Bond <br />Documents. <br />5. Determining financial reserves not inconsistent with this Master Agreement <br />and the Bond Documents pursuant to section III -G of this Master Agreement. The <br />Joint Board shall provide such information to Anoka County at such times as may be <br />required in the Bond Documents. <br />E. USE <br />1. (a) Rights - Blaine, Coon Rapids, SAMN and MASC shall have a <br />priority right to schedule "high season" hours as hereinafter defined for one <br />of the four ice surfaces. The High Season is defined as 1,320 hours in the <br />Winter Season (Oct. 15 to Mar. 15) Each party shall also have rights and <br />obligations to 326 hours in the Fall Season (Sept. 1 to Oct. 15) and 434 <br />hours in the Spring Season (March 15 to May 30). Such rights may be <br />exercised by the above parties on such terms, conditions and length of notice <br />as determined by the Joint Board. <br />In addition to its rights with. respect to one of the four ice sheets as <br />described in the above paragraph, MASC shall have a priority right to <br />schedule all four ice surfaces for the months of June, July and August. <br />MASC also has priority for all four ice surfaces for the All-American Girls' & <br />Women's Ice Hockey Tournament (four days total in October and/or <br />November each year) to the extent of 140 hours and a Christmas <br />Tournament to be held between Christmas Day and New Years Day each <br />year for up to 352 hours of ice time. In addition, each of MASC Blaine, <br />Coon Rapids, and SAMN shall be entitled to scheduling priority for all four <br />ice surfaces for the purpose of holding a tournament requiring all four <br />surfaces for one weekend during "High Season" (defined as 1,320 hours <br />between October 15 to March 15 Winter season) on such terms and <br />conditions as the Joint Board deems appropriate. All use of the ice sheets <br />pursuant to this paragraph shall be paid for the party using the ice sheets at <br />the regular hourly rate, and all hours paid for pursuant to this paragraph shall <br />be credited to each respective party against their obligations under paragraph <br />(b) below. <br />4 <br />