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STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
RESOLUTION NO. 96 - 47
A RESOLUTION APPROVING P ARTICIP A TION IN
FINANCING, CONSTRUCTION AND OPERATION OF
A FOUR-SHEET ICE FACILITY
WHEREAS, the City of Arden Hills ("City") has determined a need to provide its residents with
access to an indoor ice arena intended to be used predominantly for youth athletic activities; and
WHEREAS, the Minnesota Amateur Sports Commission ("MASC") proposes to construct and
operate a facility consisting of four Olympic-size ice sheets and related facilities (the "Facility")
on the property ofthe National Sports Center located in Blaine, Minnesota; and
WHEREAS, the Cities of Arden Hills, Mounds View, New Brighton and Shoreview have been
offered the opportunity to participate in the construction and operation of the Facility, thereby
obtaining a priority right to schedule ice time with respect to the ice surfaces at the Facility; and
. WHEREAS, the financing of the Facility will be undertaken by the issuance ofrevenue bonds of
the Anoka County Housing and Redevelopment Authority (the "HRA"), the proceeds of which
will be used to acquire a general obligation bond of Anoka County, Minnesota (the "County");
and
WHEREAS, the County is required, as a condition to issuance of its general obligation bonds, to
receive an analysis provided by a professional experienced in finance, supporting a finding that
the Facility's revenues and other available money will be sufficient to pay debt service with
respect to the bonds; and
WHEREAS, the County, the HRA, and MASC will enter into an agreement pursuant to which
the Facility will be financed and constructed, and MASC will pledge revenues of the Facility to
the repayment of the bonds; and
WHEREAS, MASC has proposed that there will be an agreement to be entered into among
MASC, the City and other participating cities setting forth the respective rights and obligations
of the parties with respect to the Facility; and
WHEREAS, Ramsey County has included $500,000 in their 1997 tax levy to participate in the
project by funding the initial capital contribution requirement; and
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Resolution No. 96 - 47
September 30, 1996
Page Two
WHEREAS, the City is authorized by Minnesota Statutes 475 to enter into an agreement with
respect to financing the Facility; and is further authorized by Minnesota Statutes, Section
471.191, to secure its obligations pursuant to the agreement by a first charge on the gross
revenues of the Facility and to provide for a levy of taxes for the payment of operating costs of
the Facility to the extent that revenues are insufficient therefore,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ARDEN HILLS, MINNESOTA:
1, The City hereby determines and agrees to participate in the financing,
construction, operation and use of the Facility, provided that the City's
participation shall be in an amount established within a supplemental agreement
between the Cities of Arden Hills, Shoreview, Mounds View, and New Brighton.
2. The City agrees to secure rental income for the Facility in an amount at least equal
to the agreed-upon hourly rental rates times its Percentage Share of agreed-upon
prime time hours (not less than 2,080), which rental income shall be passed
through for the purpose of paying debt service with respect to the bonds and
paying operating costs of the Facility.
3,
The agreement to participate in this project is subject to the following conditions:
A. Approval of the Master Agreement between the MASC and all of the
participating communities;
B. Approval of a Supplemental Agreement, including a $500,000 escrow,
between the Cities of Arden Hills, Mounds View, New Brighton, and
Shoreview and the Mounds View and lrondale Youth Hockey
Associations;
C. Approval of a Supplemental Agreement between the Cities of Arden Hills,
Mounds View, New Brighton, Shoreview and Ramsey County which
includes the County's $500,000 capital contribution toward the project;
D, Review of the final agreements by the City's Accountant and Financial
Advisor to determine future impact on the City's Bond rating;
E. Participation in the project by the Cities of Mounds View, New Brighton
and Shoreview; and
F,
Financial commitment from communities for all four sheets of ice at the
National Sports Center.
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Resolution No, 96 - 47
Page Three
September 30, 1996
PASSED AND ADOPTED BY THE CITY COUNCIL OF HE CITY OF ARDEN HILLS
THIS 30TH DAY OF SEPTEMBER, 1996.
ATTEST:
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BRIAN FRlTSINGER, ITY ADMINISTRATOR