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RESOLUTION NO. 2017 - 13 A RESOLUTION OF THE CITY OF MOSCOW, IDAHO, A MUNICIPAL CORPORATION OF THE STA TE OF IDAHO, AUTHORIZING THE COMMITMENT OF HAMIL TON FUNDS FOR CONTRIBUTION TO PALOUSE ICE RINK FACILITY; LIMITING THE COMMITMENT OF SAID FUNDS; AND OTHER MATTERS RELATED THERETO; PROVIDING THAT THIS RESOLUTION SHALL BE IN EFFECT UPON ITS PASSAGE, AND APPROVAL. WHEREAS, City was the recipient of funds from the Estate of Bobby C. Hamilton for the purpose of providing recreational opportunities for the City of Moscow's children; and WHEREAS, City has stated its intent to commit one million dollars ($1,000,000) of the Hamilton funds for the purpose of funding contribution toward the construction of an ice-skating facility by the Palouse Ice Rink Association (PIR) to benefit Moscow's youth; and WHEREAS, City wishes to formally commit said amount for contribution to PIR for construction of an ice-skating facility upon certain conditions being met; and WHEREAS, City wishes to only commit said funds for a limited period of time to insure construction of the facility is guaranteed and begins prior to the expiration of the PIR's current conditional permit; NOW, THEREFORE, BE IT RESOLVED by the Mayor and City Council of the City of Moscow as follows: 1. The total sum of one million dollars ($1,000,000) shall be committed from the City of Moscow's Hamilton Fund by the Moscow Finance Director, for purposes of providing funding contribution for the construction of an Ice Skating Facility under the management of PIR as presented in PIR's December 2014 Business Plan and in conformance with the cost estimate of four million two hundred fifty one thousand nine hundred sixty seven dollars ($4,251,967), as provided in said Plan; and 2. All Hamilton funds committed by City to PIR for construction of new Ice Skating Facility shall be held by City until PIR provides assurances PIR will provide recreational opportunities for Moscow's youth and guarantees access to Moscow's youth so that no child is unable to make use of the Facility on account of ability to pay for said recreational use; and 3. That said committed funds shall not be released and contributed to PIR until PIR can show, to the City's satisfaction, that it has raised the necessary amount of funds to fully construct said Facility to completion minus the City's contribution; and RESOLUTION 2017 - 13 ICE SKA TING F ACILJTY FUNDING PAGE I 0F2 ---PAGE BREAK--- 4. That upon request by the City's Finance Director, PIR shall provide an accounting of all deposits, payments, and guaranteed irrevocable and enforceable pledges of money and/or in-kind services specific to funding of construction of the Ice Skating Facility within thirty (30) days of said request; and 5. City will only obligate the expenditure of Hamilton funds until the expiration date of the current Conditional Use Permit PIR has with the City for the current ice skating rink, which occurs on June 28, 2019. 6. The Moscow Finance Director is hereby directed to take all steps necessary to implement the contribution in conformance with all restrictions and conditions set forth herein. 7. That this Resolution shall become effective as of the 19th day of June, 2017. PASSED AND APPROVED by the Mayor of the City of Moscow, Idaho, this 19th day of June, 2017. RESOLUTION 2017 - l 3 ICE SKA TING f ACILITY FUNDING PAGE2 Or2