HomeMy WebLinkAbout1995-247Resolution No. 95-247
Endorsing the St. Croix Valley Area Sports Facilities Commission for the solicitation of funds for
the construction of a multi -purpose sports facility and approving the Memorandum of
Understanding between the City of Stillwater and the Commission.
WHEREAS, the City of Stillwater desires to construct a multi -purpose sports facility; and
WHEREAS, the St. Croix Valley Area Sports Facilities Commission, has been formed for the
purpose of obtaining funds to finance the construction of the facilities.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Stillwater that
the St. Croix Valley Area Sports Facilities Commission is hereby authorized to solicit, on behalf of
the City of Stillwater, funds necessary to finance the construction of a sports facility within the
City of Stillwater.
BE IT FURTHER RESOLVED, that the Mayor and Clerk are hereby directed to sign the
Memorandum of Understanding between the City of Stillwater and the St. Croix Valley Area
Sports Facilities Commission, attached hereto as Exhibit A.
Adopted by the City Council this 25th day of October, 1995.
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orli Weldon, City Clerk 'y ble, Mayor
MEMORANDUM OF UNDERSTANDING
This Agreement dated this day of October, 1995 is between the City of Stillwater,
Washington County, Minnesota, a Home Rule City of the Third Class, and political subdivision
of the State of Minnesota (the "City") and the St. Croix Valley Area Sports Facility's
Commission, a Minnesota non-profit Corporation formed and existing under the laws of the State
of Minnesota (the "Commission").
RECITALS
The City is currently the owner of a 7.4 acre parcel of prime real estate that has been
designated for the use of a multi -purpose recreational facility and the City has also committed to
support fund raising efforts of other non-profit entities and governmental subdivision interested
in securing the capital funds necessary to undertake the construction of the facility.
The Commission has been formed by individuals from the community with an interest in
obtaining the necessary funding for the construction of the facility, and the City and the
Commission wish to agree to cooperate in this effort, and to set forth their respective
responsibilities with regard to the fund raising efforts.
NOW, THEREFORE, for valuable consideration, the parties hereto agree as follows:
1. That the Commission has authority to make representations to donors only as
authorized by the City.
2. That funds solicited shall be made to the City of Stillwater, and retained in trust
by the City until the sum needed for capital funding of the sports facility is complete.
3. That in the event the fund raising has not raised enough funds to ensure capital
funding and the beginning of construction of the project before January 1, 1997, the funds will be
returned to the donors without interest and will not be retained by the City or used for any other
purposes inconsistent with the construction of the multi -sports facility.
Enacted this 25th day of October, 1995.
Attest:
Morli Weldon, City Clerk_
CITY OF STILLWATER, MINNESOTA
By A/,./
ayor
ST. CROIX VALLEY AREA SPORTS
FACILITY COMMISSION
By