HomeMy WebLinkAbout93-202 ~
CITY OF LAKEVILLE
RESOLUTION
Date October 4, 1993 Resolution No. 93-202
Motion by Mulvihill Seconded by Ruhmann
RESOLUTION AUTHORIZING PREPARATION
OF PLANS AND SPECIFICATIONS FOR
CONSTRUCTION OF AN ICE ARENA FACILITY
A. WHEREAS, the City of Lakeville, Minnesota
(the "City"), the Housing and Redevelopment Authority of the
City of Lakeville (the "Authority"), the Lakeville Community
Corporation (the "Corporation"), Lakeville Hockey Boosters, Inc.
("Boosters") and Independent School District No. 194, Minnesota
(the "District") have heretofore entered into a Memorandum of
Understanding, dated July 6, 1992 (the "Memorandum") setting
forth the general understandings of, and the actions to be taken
by, each of the parties in connection with the development of an
approximately 40,000 square foot ice arena facility (the
"Arena") in the City; and
B. WHEREAS, the Memorandum provides that the
Arena (i) will be constructed on land to be provided by the
District to the Authority, (ii) will be owned by the Authority,
(iii) will be leased by the Authority to the City pursuant to
the terms of a lease-purchase agreement pursuant to which the
City will be responsible for the construction of the. Arena and
will lease the Arena from the Authority for rentals sufficient
to retire revenue bonds to be issued by the Authority to provide
the financing far the arena, and (iv) will be subleased by the
City to the Corporation for operation for sublease rentals
sufficient, together with certain gaming revenues to be provided
by Boosters, to provide the City with the necessary funds to pay
the rentals due to the Authority under the lease-purchase
agreement; and
C. WHEREAS, to provide funds for the
construction and furnishing of the Arena, the Authority has sold
its Ice Arena Lease Revenue Bonds, Series 1992 (the "Bonds") in
the aggregate principal amount of $1,375,000 pursuant to a bond
resolution duly adopted August 17, 1992 (the "Resolution"); and
•
D. WHEREAS, proceeds of the Bonds deposited
into the Capital Expenditures Fund created pursuant to Section
4.2 of the Resolution are not to be devoted to the construction
• and furnishing of the Arena until certain conditions set forth
in Sections IV and V of the Memorandum have been met, including
a condition that Boosters and the Corporation must undertake a
fund raising drive to raise an aggregate sum of not less than
$496,331 (including donations of materials and services in form
acceptable to the City) for construction of the Arena by October
15, 1993; and
E. WHEREAS, Boosters and the Corporation have
completed the fund raising. drive and have raised the total sum
of $527,030 (including cash of $410,000 and qualifying donations
of materials and services of $117,030) to be contributed to the
costs of constructing the furnishing the arena; and
F. WHEREAS, the City of Lakeville and the
Authority have approved a Lease-Purchase Agreement dated October
4, 1993; and
G. WHEREAS., the City Council has approved an
Architectural Services Agreement with Pope Associates.
NOW THEREFORE BE IT RESOLVED, by the City
Council of Lakeville, Minnesota, that Pope Associates is hereby
authorized to prepare plans and specifications for construction
of an Ice Arena Facility.
APPROVED AND ADOPTED by the City Council of the
City of Lakeville, Minnesota, this 4th day of October, 1993.
CITY LAKEVIL
BY•
D ne Zaun, yor
TTES
x ~
Charlene Friedg , City Clerk