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ity of <br /> <br />iver <br /> <br />Item 5.3. <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />Mayor and City Council <br /> <br />Pat Klaers, City Administrator <br /> <br />April 1, 1996 <br /> <br />SUBJECT: Ice Arena Update <br /> <br />As expected, the School Board approved the joint powers agreement which <br />governs the ownership, operation, and maintenance of the proposed ice arena <br />facility, and the resolution which approves the ice arena project and <br />financing at its March 26, 1996, meeting. The city had requested approval of <br />these documents. Approval of the resolution allows the city to sell general <br />obligation bonds for the project. Approval of the joint powers agreement <br />allows the city to obtain the construction materials and supplies for the ice <br />arena project on a tax exempt basis. <br /> <br />The City Council must approve the joint powers agreement in the same form <br />as approved by the School Board. Attached is the material that was provided <br />to the School Board and which they approved. The Board did change Item <br />#2, and this change is also attached for your review. The city attorney has <br />not had an opportunity to review this change, but I will be able to talk to him <br />before Monday's meeting and I should have a clean copy of a joint powers <br />agreement to present for the City Council's consideration. <br /> <br />The City Council also has to approve a resolution regarding the project and <br />the financing of the project. The city resolution will be nearly identical to the <br />attached resolution that the School Board approved, but we will have to <br />change some of the names and titles. Additionally, the School also changed <br />Item #2 in this resolution, and this change is identified in the same attached <br />material that was previously noted. A clean copy of this resolution and <br />Attachment A will be provided to the City Council for its consideration on <br />Monday evening after I have had a chance to review this material with the <br />city attorney. <br /> <br />The finance information for the ice arena project is attached as the exhibit to <br />the resolution. This is the material that was originally provided in the <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />