Agenda Packets - 2013/05/06 - Laserfiche WebLink

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with both the resolution and opinion required to be in a form acceptable to MASC and Anoka County. C. Budget-- MASC shall submit a proposed annual budget (hereinafter referred to as the "Annual Budget") to the Board at least 120 days before the beginning of a new calendar year (hereinafter referred to as the "Fiscal Year"). Such Annual Budget shall include an hourly rate (the "Guaranteed Hourly Rate") to be charged for ice sheet rental at a level such that projected Guaranteed Rental Income, if received, will be adequate to pay all Operating Expenses,.as defined below, and Bond Expenses for the following Fiscal Year. In addition, the Annual Budget shall establish rental charges for its time above and beyond the 10,400 Guaranteed Rental Hours (the "Off Peak Rental Rates") which shall be sufficient to produce income from such off peals rental usage at least equal to the additional operating expenses, if any, attributable to such off peak usage. For purposes of this Master Agreement, "Operating Expenses" shall be defined as all costs of operating and maintaining the Facility, including the fixtures and equipment required therefore, and all deposits required to operating reserves, but shall not include the costs of promotion and coordination of special events in the Facility sponsored or organized by or on behalf of MASC. If the Joint Board determines that the Operating Expenses are not reasonably necessary to operate the facility as intended, the Joint Board may object to the proposed budget at least 60 days prior to the beginning of a new Fiscal Year. If the Joint Board does not take action to object to the proposed Operating Expenses within 60 days prior to the new Fiscal Year, the Operating Expenses and the Annual Budget shall be deemed to approved by the Joint Board, and the Guaranteed Hourly Rate for the Fiscal Year shall be deemed to be approved. In the event that MASC and the Board are unable to agree after all parties have made their best efforts, the question of reasonableness of the budget shall be submitted to binding arbitration with the Office of Alternative Dispute Resolution in the State Bureau of Mediation Services. The proposed Annual Budget, and the Guaranteed Hourly Rate included therein, shall be in effect as the first day of the Fiscal Year in the event that any arbitration hereunder is not completed as of the beginning of the Fiscal Year. MASC members on the joint Board shall be permitted to vote on the Annual Budget as board members. d. Enforcement of Obligations MASC is hereby delegated as the sole party to this agreement charged with the duty of enforcing the rental and Guaranteed Hours obligations of the other four parties. In its discharge of this duty, MASC in its discretion may employ any dispute resolution, mechanisms and techniques including negotiations, mediation, arbitration and litigation. 2. Procedure Each year, prior to each rental season (as defined by the Joint Board) each party shall notify MASC on such terms and conditions as are deemed appropriate by the Joint Board of the number of hours of the party's Guaranteed Hours for which the party has obtained either a commitment from a third party to rent the applicable ice sheet or for which the party has determined to use the applicable ice sheet for its 7