HomeMy WebLinkAbout97-031
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STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
RESOLUTION NO. 97 - 31
A RESOLUTION APPROVING AN AMENDMENT TO THE MASTER AGREEMENT
WITH THE MINNESOTA AMATEUR SPORTS COMMISSION
FOR THE PARTICIPATION IN FINANCING, CONSTRUCTION AND OPERATION
OF A FOUR-SHEET ICE FACILITY
WHEREAS, the City of Arden Hills, ("City"), as part of the SAMN Coalition, ("Cities of Arden
Hills, Mounds View, New Brighton and Shoreview"), has executed a Master Agreement with the
Minnesota Amateur Sports Commission, ("MASC"); and
WHEREAS, an amendment to the Master Agreement is necessary to conform to the provisions
required by the Anoka County Financing Agreement; and
WHEREAS, the City has reviewed the project design documents and approves the conceptual
design plans dated May 9,1997 and May 15, 1997,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ARDEN HILLS, MINNESOTA that it approves the First Amendment to the Master
Agreement, and authorizes the Mayor and City Administrator to execute this amendment and the
certificate relating to the Master Agreement for the National Sports Center Ice Arena.
PASSED AND ADOPTED BY THE CITY COUNCI
THIS 9TH DAY OF JUNE, 1997.
ATTEST:
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Certificate Relating to the Master Agreement for the
National Sports Center Ice Arena
The undersigned authorized representative of the City of Arden Hills, ("City") is authorized to
execute this certificate, and certifies to the Minnesota Amateur Sports Commission ("MASC"),
Anoka County, and the Anoka County Housing and Redevelopment Authority that:
1. The City has entered into the Master Agreement dated as of January 1, 1997, and
the First Amendment to the Master Agreement dated as of June 1, 1997.
2. The City has reviewed the design documents consisting offour pages, including a
main floor plan dated May 15, 1997 and an upper floor plan, cross section and
elevation dated May 9, 1997, as prepared and submitted by the MASC, and has
approved the conceptual design as required under Section IV of the Master
Agreement.
3. The City consents to the collateral assignment of the Master Agreement from the
MASC to the trustee for the bonds issued to finance the facility by the Anoka
County Housing and Redevelopment Authority.
4.
All conditions precedent to the performance and effectiveness of the obligations
of the City contained in the Master Agreement, as amended, which are established
in the Master Agreement, as amended and the authorizing resolutions of the City
and internal agreements for the facility have been satisfied.
B~N&~wmSTRAroR
6 -:1, '7 7
Date
(Seal)
05/16/97 11:45 FAX 7855899
NSC
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bonds; (2) monthly payment to the Trustee under the Bond Documents for
restoration of the debt service reserve fund for tile Bonds, ifnecesSlll)'; (3)
monthly payment of $5,000 to the TIUStee under the Bond Documents for
deposit to the capital improvement reserve held by the TIIIStee until the
amouot on deposit reaches and is maintained at $250.000 (such monthlv
'~posits to comfieR"" in the fourth full fiscal vear of Facility QIleration) (4)
the payment of Operating Costs of the Facility; (5) the accumulation of an
operating costs teServe to be held by I>4ASC in the amount of $500,000
(five hundred thousand dollars); (6) deposit to the redemption fund under
the Boud Documents on March 1 of each year of any amounts not applied
in accordance with subparagraphs (1) through (5) as of the end of previous
FlScal Year for accumulation in a bond redemption fund. Funds in the
bond redemption fund may be used to cure deficiencies in subpamgI1l[lh (2)
to the extent other reserve funds are insufficient, or be applied to the early
zedemption of Bonds, as directed by MASC with the concurrence of Anon
County. ~
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STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
FI1~E
CERTIFICATION
I hereby certify that the attached resolution is a true and correct copy of the resolution presented
to and adopted by the City of Arden Hills at a duly authorized meeting thereof held on the 9th
day of June, 1997, as shown by the minutes of said meeting in my possession.
BRIAN'~TRATOR
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