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<br />e <br /> <br />RESOLUTION 95-64 <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION OF APPLICATION AUTHORIZING FILING OF <br />APPLICATION AND EXECUTION OF FINAL AGREEMENTS WITH <br />THE MINNESOTA AMATEUR SPORTS COMMISSION (MASC) TO <br />CONSTRUCT A SPORT FACILITY UNDER THE PROVISION OF THE <br />STATE CAPITAL BONDING FUND <br /> <br />WHEREAS, the Minnesota Amateur Sports Commission (MASC), via the <br />State Capital Bonding Fund, provides for capital funds to assist <br />political subdivisions of the State of Minnesota for the <br />development of sport facilities, and <br /> <br />e <br /> <br />WHEREAS, the City of Elk River desires to construct and develop an <br />addition to its existing Ice Arena for the sports of ice skating, <br />figure skating, hockey, indoor speed skating and dry floor <br />activities. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Elk River, Minnesota: <br /> <br />1. Estimates that the total cost of developing said facility <br />shall be $2.8 million and the City of Elk River is <br />requesting $250,000 from the Mighty Ducks Capital <br />Bonding Fund and will assume responsibility for a match <br />requirement of $250,000. <br /> <br />2. The City of Elk River agrees to own, assume 100 percent <br />(100%) operation costs for said sport facility, and will <br />operate said facility for its intended purpose for the <br />functional life of the facility which is estimated to be 30 <br />years. <br /> <br />3. The City of Elk River agrees to enter into necessary and <br />required agreements with the Minnesota Amateur Sports <br />Commission for the specific purpose of constructing a <br />sport facility and long-term program direction. <br /> <br />e <br /> <br />4. <br /> <br />That an application be made to the State of Minnesota, <br />Minnesota Amateur Sports Commission, to be included in <br />