The URL can be used to link to this page

2017-08-14 STMA Ice Arena Board Packet STMA STMA ARENA BOARDAGENDA MONDAY,AUGUST 14, 2017 ALBERTVILLE CITY HALL 6:00PM 1.CALL TO ORDER –ROLL CALL 2.ADOPT AGENDA 3.APPROVAL OF THE MINUTES OF JULY 10,2017 (pg.1) 4.FINANCE REPORTS a)Approve the Julylist of claims as presented in the amount of $17,368.69and July report (pgs.2-5) 5.ARENA MANAGER a)Monthlyreport(pg.6) 6.OLD BUSINESS nd a)2Sheet Design -Update b)Arena Management Agreement (draft) –Continued Discussions(pgs.7-25) a.Zamboni Purchase b.High School Rental Hours 7.NEW BUSINESS 8.YOUTH HOCKEY ASSOCIATION 9.ADJOURN P:\\Arena\\2017 STMA Ice Arena\\2017 Ice Arena Agendas\\2017-08-14\\081417 STMA Agenda.doc ST. MICHAEL-ALBERTVILLE ICE ARENA BOARD MINUTES JULY 10, 2017 6:00 p.m. Present: Chairman Walter Hudsonand members John Vetsch,Kari Dwinnell, Jeff Lindquist, Keith Wettschreck andKevin Kasel.Also present:City Administrator Adam Nafstad, City Finance Director Tina Lannes, STMA Arena Manager Grant Fitch, Doug Birk, Albertville City Attorney Mike Couri, andDr. Ann- Marie Foucault.The meeting was called to order at 6:04 p.m. byActing Chairman Jeff Lindquist. Set Agenda moved MembersKasel/Wettschreck to set the agenda as presented.All voted aye. Approval of Minutes moved MembersDwinnell/Kaselto approve the minutes of the May 8, 2017Board Meeting as presented.All voted aye. Finance Reports moved Members Kasel/Wettschreckto approve the May/Junelist of claims totaling $63,702.63and the JuneFinancial Report as presented. All voted aye. Arena Manager’s Report Fitch updated the board on the rental hours for June and the maintenance projects. Three condenser fans had to be replaced but were covered under our blanket agreement with SCR. Fitch talked about bringing back learn to skate program. There was discussion on how to bring that program back to Albertville. NewBusiness Doug Birk presented a power point on the Joint Powers Agreement including the second sheet of ice. In the presentation he went over the history of the agreement between the three entities, the rationale for changes to the agreement for the new sheet of ice, process and timeline for the addition, an overview of the changes in the board and equipment shared. In addition Mr. Birk went over the management and administration of the existing arena and new addition which included how the capital funds will be separate agency funds for each sheet. Also, presented was the need to replace the current Zamboni, ice time, and summary of the new agreement. Member Kari Dwinnell excused herself from the meeting at 6:55 p.m. Lannes presented the pro-forma budget for two sheets of ice to the board which was an updated version based on the 2013 Ballard King Report. Nafstad reported that the pro-forma budget is an estimate and staffing needs to be evaluated as we move forward to two sheets in operationand pointed out deprecation is not in the pro-forma budget. Nafstad presented two capital purchases for the existing rink. The first item was the purchase of a new Zamboni. The current Zamboni is 15 years old but the intent is to keep it as a backup. Once this Zamboni is purchased, for an estimated $150,000, future replacements will be split under the new agreement 1/6, 1/6, 2/3. Staff and the board discussed the possible purchase of a new Zamboni. The second capital purchase itemwas the refrigeration connection option. This option would cost approximately $261,000 if we connect the existingarea to the new arena additionsrefrigerationsystem at the time of the project. If this connection is not completed as part of the project it could cost approximately $800,000 to connect. This expense would be split between the three entities under the existing agreement 1/3, 1/3, 1/3. The current system is 20 years old and the refrigerant is being phased out along with systems components have already exceeded their expected life. Staff and the board discussed several options in regards to the refrigeration replacement for the existing arena. moved Members Kasel/Vetsch to recommend the upgrade of the refrigeration connection for the ice plant to the respective boards and councils. All voted aye. Adjourn moved Members Lindquist/Kaselto adjourn at approximately 8:03p.m. All voted aye. Attest: _________________________________ Tina L. Lannes, City Finance Director STMA Arena Board Mtg 08/14/17 Page 1 Cash Basis STMA Ice Arena Preliminary Budget to Actual July2017 () 2017 2017 Actual 2017 Annual July 2017 YTD YTD % of BudgetActual07/31/17Budget Income Ice Rental$277,100.00 $32,356.25 $169,282.50 61.09% Concessions$35,000.00 $73.00 $17,769.75 50.77% Other Revenues (Advertising/LMC/Ins Claims)$12,100.00 $0.00 $3,062.00 25.31% Vending$1,000.00 $0.00 $650.10 65.01% Open Skate/Hockey, etc.$5,000.00 $576.00 $2,079.00 41.58% Interest$1,000.00 $0.00 $0.00 0.00% Misc. Revenue$1,600.00 $24.00 $298.50 Total Income58.04% $332,800.00 $33,029.25 $193,141.85 Expenses Salaries, Wages, Taxes & Benefits$126,327.50 $7,856.83 $70,312.84 55.66% Supplies (Office, Misc.)$1,850.00 $375.00 $971.65 52.52% Supplies (Concession)$15,000.00 $0.00 $4,057.71 27.05% Fuel, Misc.$1,800.00 $0.00 $504.62 28.03% Professional Services$15,000.00 $3,879.34 $19,972.04 133.15% Sales Tax$4,000.00 $0.00 $1,712.00 42.80% Telephone$1,000.00 $105.52 $847.44 84.74% Electric$60,000.00 $27.95 $17,232.44 28.72% Gas$15,000.00 $395.53 $7,876.01 52.51% Water$20,000.00 $220.57 $13,613.56 68.07% Refuse$2,400.00$0.00 $693.90 28.91% Insurance$9,000.00 $0.00 $7,557.00 83.97% Administration$12,646.50 $1,053.38 $7,373.66 58.31% Misc.$2,285.00 $153.11 $1,793.11 78.47% Repair Maintenance –Machinery$10,000.00 $2,036.30 $6,635.43 66.35% Repair Maintenance –Building$27,500.00 $5,771.36 $14,320.02 52.07% Total Operating Expenses$323,809.00 $21,874.89 $175,473.43 54.19% Net Income/Loss$8,991.00 $11,154.36 $17,668.42 STMA Arena Board Mtg 08/14/17 Page 2 STMAICE ARENA CASH BALANCES AND RECEIVABLES July 31, 2017 Cash Balance Operations Cash Balance Operations 1/1/17$114,448 Add Revenues (collected in 2017)$193,142 Less Expenses$175,473 Cash Balance Operations 7/31/17$132,116 Accounts Receivable (invoiced) Operations July31, 2017 - $0 Cash Balance Dedicated Capital Improvement Fund Arena Owner Dedicated Cap. Imp. Fund Beginning Balance 1/1/17$165,024 Bleachers-$14,006 Kraft Money to School-$40,000 Balance 7/31/17$111,018 STMA Arena Board Mtg 08/14/17 Page 3 STMA Ice Arena Vendor Check Detail Register July 2017 Check AmtInvoiceComment 10100 Premier Bank Paid Chk# 005515E7/3/2017ABDO, EICK & MEYERS LLP E 810-00000-301 Auditing and Acctg Services$84.15385904Professional Audit/Acctg Services Paid Chk# 005520E7/3/2017COURI & RUPPE, P.L.L.P. E 810-00000-300 Professional Srvs (GENERAL)$930.00STMA Ice Arena Paid Chk# 005531E7/14/2017WRIGHT-HENNEPIN COOP ELECTRIC E 810-00000-381 Electric Utilities$27.95ARENA AUG STMA ArenaFire Panel Monitor Aug 2017 Paid Chk# 036780 7/3/2017CHARTER COMMUNICATIONS E 810-00000-321 Telephone$31.65ARENA STMA Arena Cable TV Paid Chk# 036781 7/3/2017CJ S LINEN SERVICE E 810-00000-399 Miscellaneous$5.0032887STMA Arena Rug Washed Paid Chk# 036782 7/3/2017CONTINENTAL SAFETY EQUIPMENT E 810-00000-300 Professional Srvs (GENERAL)$277.00445595STMA Arena 10PPM NO2 Arena Cal Gas Paid Chk# 036786 7/3/2017HAWK PERFORMANCE SPECIALISTS E 810-00000-300 Professional Srvs (GENERAL)$2,360.004270STMA Arena Ice Painting, Logos, Etc. Paid Chk# 036788 7/3/2017JORSON & CARLSON INC E 810-00000-300 Professional Srvs (GENERAL)$61.19487781Ice Scraper Knives Cleaned & Sharpened Paid Chk# 036795 7/3/2017METLIFE-GROUP BENEFITS E 810-00000-130 Employer Paid Ins (GENERAL)$185.73JULY 2017Emp Life, Dental, Stdis, Vision Paid Chk# 036799 7/3/2017NITRO GREEN E 810-00000-399 Miscellaneous$80.00272670623STMA Arena Round-up Treatment Paid Chk# 0368027/3/2017RINK SYSTEMS, INC. E 810-00000-404 Repair/Maint - Machinery/Equip$425.001106077STMA Arena Repair Equip Gate E 810-00000-404 Repair/Maint - Machinery/Equip$720.001106078STMA Arena Repair Welds on Equip Gate Paid Chk# 036804 7/3/2017SCR, INC - ST. CLOUD E 810-00000-405 Repair/Maint - Buildings$690.00C001106STMA Arena Refigeration Equip Maint Paid Chk# 036809 7/3/2017SUNRISE PLUMBING E 810-00000-405 Repair/Maint - Buildings$368.0012381STMA Arena Repair Leaking Pipe at Rink Paid Chk# 036812 7/3/2017TWIN PINES IMPRINTING E 810-00000-300 Professional Srvs (GENERAL)$2,500.001122STMA Arena Circle K Banner Paid Chk# 036815 7/12/2017BCBS OF MINNESOTA E 810-00000-130 Employer Paid Ins (GENERAL)$1,074.00170630376151Emp Health Ins Paid Chk# 036816 7/12/2017CHARTER COMMUNICATIONS E 810-00000-321 Telephone$73.87ARENA JULY STMA Arena Telephone STMA Arena Board Mtg 08/14/17 Page 4 STMA Ice Arena Vendor Check Detail Register July 2017 Check AmtInvoiceComment Paid Chk# 0368177/12/2017CULLIGAN E 810-00000-405 Repair/Maint - Buildings$58.00101X30280609STMA Arena Deionization & Di Carbon Rental Paid Chk# 036824 7/17/2017BANYON DATA SYSTEMS E 810-00000-300 Professional Srvs (GENERAL)$27.00156076Vault Backup Paid Chk# 036830 7/17/2017CENTERPOINT ENERGY E 810-00000-383 Gas Utilities$395.53ARENA JUNE STMA Arena 5898 Lachman Ave #5390131-0 Paid Chk# 036835 7/17/2017DJS TOTAL HOME CARE CTR-ARENA E 810-00000-405 Repair/Maint - Buildings$20.5697391STMA Arena Hex & Drill, Flat Wood E 810-00000-405 Repair/Maint - Buildings$4.9897429STMA Arena Joint Tape E 810-00000-405 Repair/Maint - Buildings$9.9997519STMA Arena Nozzle Twist Brass E 810-00000-405 Repair/Maint - Buildings$3.9997571STMA Arena Hose Shutoff Coupler E 810-00000-405 Repair/Maint - Buildings$10.3697621STMA Arena Sprayer, Mr. Clean E 810-00000-405 Repair/Maint - Buildings$2.3697674STMA Arena Fasteners E 810-00000-405 Repair/Maint - Buildings$3.9997777STMA Arena Mr. Clean Paid Chk# 036848 7/17/2017NITRO GREEN E 810-00000-399 Miscellaneous$68.1127670629STMA Arena Roundup Touch up Paid Chk# 036867 7/20/2017MAXIMUM SOLUTIONS, INC E 810-00000-200 Office Supplies (GENERAL)$375.0020067STMA Arena MaxEnterprise Software Annual Paid Chk# 036871 7/27/2017METLIFE-GROUP BENEFITS E 810-00000-130 Employer Paid Ins (GENERAL)$185.73AUG 2017Emp Life, Dental, Stdis, Vision Paid Chk# 036874 7/27/2017XCEL ENERGY E 810-00000-381 Electric Utilities$6,309.55ARENA JUNE STMA Arena 5898 Lachman Ave 810 STMA ARENA$17,368.69 STMA Arena Board Mtg 08/14/17 Page 5 MANAGER’ GENERAL UPDATE Date: August 14th, 2017 To: STMA Arena Board From: Grant Fitch, STMA Arena Manager A RH-J/J RENA ENTAL OURS UNE ULY NamePrime-timeOff-peak Youth Hockey 0 hours Adult Hockey 0 hours High School Boys/Girls 109 hours Public Skating/OH 53.25 hours Private rentals 4 hours Learn toSkate 0 hours __________________________________________________________________________ Total hours 166.25 Staffing: We are looking to hire a full-time seasonal Shift Supervisor for 40 hrs/week and 2 to3 PT Shift Supervisors for 15-20 hrs/week. Finding reliable help has been very challenging over the last few years. Without additional help, current staffing levels will not be able to keep up. With the fall Hockey season fast approaching, I am very concerned about staffing. Currently, we have ads placed with The League of MN Cities (LMC), M.I.A.M.A (Minnesota Ice Arena Managers Association). Also with the building of the second sheet starting late September adding a full time assistant in the near future will help with daily operations, scheduling and staff training. Operations: No major repairs at this time. Mn Dept of Health Indoor Ice Arena Inspection: No violations, inspection August 2017 Building Maintenance: We had the pine tree removed on the northwest end of the arena. Tree was over grown and encroaching on the building. WH SecurityFire protection: Line #2 trouble test failure. Had system checked and needed to upgrade communication board for approximately $350 Knight to Remember - 2018: K2Rwill be scheduled at another location for the March 2018 youth hockey fundraising event. STMA Arena Board Mtg 08/14/17 Page 6 M E M O R A N D U M Date: August 10, 2017 To: STMA Arena Board From: Adam Nafstad, City of Albertville Re:Arena Management Agreement Attached is the most current draft of the Arena Joint Powers Agreement. This draft (draft #8) incorporates all the comments received to date by each entities attorney and staff. Following the initial presentation at the previous meeting, the Board began discussion of several items related to the agreement, but most specifically the purchase of a Zamboni and the School’s rental hours. The respective agreement is as follows: Article V, Paragraph E : Prior to the commencement of operations of the Arena Addition, the Arena Board shall purchase a new Zamboni machine to be used as the primary Zamboni machine for the Combined Arena. This Zamboni machine shall be paid for with Arena Board capital funds to the extent such funds are available. In the event available Arena Board capital funds are not sufficient to cover the full purchase price of the new Zamboni machine, the remaining funds shall be provided by the Cities and th School District as follows: 1/6of such funds to be provided by the City of Albertville, thth 1/6 of such funds to be provided by the City of St. Michael, and 4/6 of such funds to be provided by the School District. Once purchased, such Zamboni machine shall be considered an operational asset of the Arena Board and shall be owned and maintained by the Arena Board. Any future Zamboni machine purchases shall be paid for in the same manner as set forth in this paragraph. Article IX, Paragraph E.1.a: As the School District’s girls hockey program migrates back to the Combined Arena, the School District will add an additional 176 hours of practice time. The School District shall not be charged for these 176 hours of practice time, provided the School District has first paid the rental charges on 222 practice hours in the same fiscal year in which the additional 176 hours are used, and provided that all School District practice hours shall occur before 6 p.m. Monday through Friday. If the School District does not use a portion of such additional 176 practice hours in any given year, the Arena Board may lease such hours to another entity for that year. STMA Arena Board Mtg 08/14/17 Page 7 DRAFT—7-25-17 )#% !2%.! MANAGEMENT AGREEMENT "%47%%. ).$%0%.$%.4 3#(//, $)342)#4 ./ȁ ΗΗΔǾ Ȩ34ȁ -)#(!%,-ALBERTVILLE) #)49 /& !,"%246),,%Ǿ #)49 /& 34ȁ -)#(!%, 4()3 !'2%%-%.4Ǿ ¨² ¬ £¤ £ ¤³¤±¤£ ¨³® ³§¨² ͑____͑͑͑ £ ¸ ®¥ ͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑Ǿ ΑΏΐΖǾ ¡¸ £ ¡¤³¶¤¤ ³§¤ #¨³¸ ®¥ Albertville (“AlbertvilleȐȩǾ ¬´¨¢¨¯ « ¢®±¯®± ³¨® ®±¦ ¨¹¤£ ´£¤± ³§¤ « ¶² ®¥ ³§¤ 3³ ³¤ ®¥ -¨¤²®³ Ǿ ³§¤ #¨³¸ ®¥ 3³ȁ -¨¢§ ¤« Ȩȏ3³ȁ -¨¢§ ¤«ȐȩǾ ¬´¨¢¨¯ « ¢®±¯®± ³¨® ®±¦ ¨¹¤£ ´£¤± ³§¤ « ¶² ®¥ ³§¤ 3³ ³¤ ®¥ MinnesotaǾ £ )£¤¯¤£¤³ 3¢§®®« $¨²³±¨¢³ .®ȁ 885Ǿ Ȩ3³ȁ -¨¢§ ¤«-!«¡¤±³µ¨««¤ȩǾ Minnesota Ȩȏ3¢§®®« $¨²³±¨¢³Ȑȩȁ !«¡¤±³µ¨««¤ £ 3³ȁ -¨¢§ ¤« ¬ ¸ ¢®««¤¢³¨µ¤«¸ ¡¤ ±¤¥¤±±¤£ ³® ² ȏ#¨³¨¤²ȁȐ 4§¤ #¨³¨¤² £ 3¢§®®« $¨²³±¨¢³ ¬ ¸ ¨£¨µ¨£´ ««¸ ¡¤ ±¤¥¤±±¤£ ³® ² ȏ0 ±³¸Ȑ £ ¢®««¤¢³¨µ¤«¸ ² ³§¤ ȏ0 ±³¨¤²Ȑȁ 7(%2%!3Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³Ǿ !«¡¤±³µ¨««¤ £ #¨³¸ ®¥ 3³ȁ -¨¢§ ¤« Ȩȏ3³ȁ Michael”) ±¤ ¯ ±³¨¤² ³® ¢¤±³ ¨ *®¨³ 0®¶¤±² !¦±¤¤¬¤³ £ ³¤£ 3¤¯³¤¬¡¤± ΐΔǾ ΐΘΘΖ Ȩȏ*®¨³ 0®¶¤±² !¦±¤¤¬¤³Ȑȩ ±¤¦ ±£¨¦ ³§¤ ¢®²³±´¢³¨® £ ®¯¤± ³¨® ®¥ ³§¤ 3³ȁ -¨¢§ ¤«-!«¡¤±³µ¨««¤ )¢¤ !±¤ Ȩȏ34-! )¢¤ !±¤ Ȑ ®± ȏ!±¤ Ȑȩ «®¢ ³¤£ ³ ΔΗΘΗ , ¢§¬ !µ¤ .EǾ !«¡¤±³µ¨««¤Ǿ -. ΔΔΒΏΐǿ £ 7(%2%!3Ǿ ³§¤ *®¨³ 0®¶¤±² !¦±¤¤¬¤³ ¢±¤ ³¤£ ³§¤ 3³ȁ Michael-!«¡¤±³µ¨««¤ )¢¤ !±¤ *®¨³ 0®¶¤±² "® ±£ Ȩȏ*®¨³ 0®¶¤±² "® ±£Ȑ ®± ȏ!±¤ "® ±£Ȑȩ ¶§¨¢§ ¨² ¢§ ±¦¤£ ¶¨³§ ¬ ¦¨¦ ³§¤ !±¤ ǿ £ 7(%2%!3Ǿ ¯´±²´ ³ ³® ³§¤ *®¨³ 0®¶¤±² !¦±¤¤¬¤³Ǿ ¤ ¢§ #¨³¸ £ ³§¤ 3¢§®®« $¨²³±¨¢³ § µ¤ ®¤-³§¨±£ ¨³¤±¤²³ ¨ ³§¤ 34-! )¢¤ !±¤ ǿ £ 7(%2%!3Ǿ ³§¤ *®¨³ 0®¶¤±² "® ±£ ¤³¤±¤£ ¨³® ¢®³± ¢³ ¶¨³§ Albertville ® ®± ¡®´³ - ±¢§ ΓǾ ΑΏΐΏ ³® ²´¯¤±µ¨²¤ £ ¬ ¦¤ ³§¤ 34-! )¢¤ !±¤ Ȩȏ- ¦¤¬¤³ Agreement”)ǿ £ 7(%2%!3Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ §a² ¯ ²²¤£ ¡®£ ±¤¥¤±¤£´¬ ³§ ³ ¶¨«« ¥´£ ³§¤ ¢®²³±´¢³¨® ®¥ ££¨³¨® ³® ³§¤ 34-! )¢¤ !±¤ ¢®²¨²³¨¦ ®¥ ¨¢¤ ±¨ªǾ ¡«¤ ¢§¤± ²¤ ³¨¦Ǿ «®¢ª¤± ±®®¬² £ ¢®¢¤²²¨® ²³ £ Ȩȏ!±¤ !££¨³¨®Ȑȩǿ £ 7(%2%!3Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ¨³¤£² ³® ´²¤ ³§¤ !±¤ !££¨³¨® ¯±¨¬ ±¨«¸ ¥®± ¨³² ¡®¸² £ ¦¨±«² µ ±²¨³¸ £ ©´¨®± µ ±²¨³¸ §®¢ª¤¸ ¯±®¦± ¬²ǿ £ -1- STMA Arena Board Mtg 08/14/17 Page 8 7(%2%!3Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ¨³¤£² ³® ±¤³ ¨ ²¨¦¨¥¨¢ ³ ¨¢¤ ³¨¬¤ ¨ ³§¤ !±¤ !££¨³¨® ¥®± ²¢§®®« ¯´±¯®²¤² ¡´³ £®¤² ®³ desire ³® ¯¤±¥®±¬ ³§¤ £ ¸ ³® £ ¸ £´³¨¤² ²²®¢¨ ³¤£ ¶¨³§ ³§¤ £¬¨¨²³± ³¨® £ ¬ ¦¤¬¤³ ®¥ ³§¤ !±¤ !££¨³¨®ǿ £ 7(%2%!3Ǿ Albertville ¨² ¶¨««¨¦ ³® ¯¤±¥®±¬ ³§¤ £¬¨¨²³± ³¨µ¤ £ ¬ ¦¤¬¤³ £´³¨¤² ±¤« ³¤£ ³® ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨® Ȩ¢®««¤¢³¨µ¤«¸Ǿ ȏ#®¬¡¨¤£ !±¤ Ȑȩǿ £ 7(%2%!3Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ¶¨«« ¯±®µ¨£¤ «« ®¥ ³§¤ ¥´£¨¦ ¥®± ³§¤ £¬¨¨²³± ³¨® £ ¬ ¦¤¬¤³ ®¥ ³§¤ !±¤ !££¨³¨® £ ³§¤ ¯ ±³¨¤² ¨³¤£ ³§ ³ ³§¨² ±± ¦¤¬¤³ ²§ «« § µ¤ ¤³ ±¤µ¤´¤ȝ¤·¯¤²¤ ¤´³± « ¤¥¥¤¢³ ® !«¡¤±³µ¨««¤Ǿ ²´¢§ ³§ ³ !«¡¤±³µ¨««¤ ±¤ «¨¹¤² ¤¨³§¤± «®²² ®± ¯±®¥¨³ ¥±®¬ £¬¨¨²³¤±¨¦ £ ¬ ¦¨¦ ³§¤ !±¤ !££¨³¨®ǿ £ 7(%2%!3Ǿ ³§¤ 0 ±³¨¤² £¤²¨±¤ ³® ®¯¤± ³¤ ³§¤ !±¤ !££¨³¨® £ ¯±®µ¨£¤ ³§¤ !±¤ !££¨³¨® ¥®± ´²¤ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³Ǿ ³§¤ «®¢ « 3³ȁ -¨¢§ ¤«-!«¡¤±³µ¨««¤ 9®´³§ (®¢ª¤¸ !ssoc¨ ³¨® £ ³§¨±£ ¯ ±³¸ ´²¤ ¥±®¬ ³¨¬¤ ³® ³¨¬¤ǿ £ 7(%2%!3Ǿ ³§¤ Parties ¨³¤£ ³® «®¢ ³¤ ¯®±³¨® ®¥ ³§¤ !±¤ !££¨³¨® £© ¢¤³ ³® £ ²®´³§ ®¥ ³§¤ ¤·¨²³¨¦ 34-! )¢¤ !±¤ ¡´¨«£¨¦ ® ¯±®¯¤±³¸ ®¶¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ £ ³§¤ #¨³¨¤² ¶§¨¢§ ¨² ¢´±±¤³«¸ ´²¤£ ¥®± ¯ ±ª¨¦ ¥®± ³§¤ 34-! )¢¤ !±¤ ǿ £ 7(%2%!3Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ¢´±±¤³«¸ ®¶² ³§¤ µ ¢ ³ «®³ ¨¬¬¤£¨ ³¤«¸ ³® ³§¤ ²®´³§ ®¥ ³§¤ 34-! )¢¤ !±¤ «®³ Ȩȏ6 ¢ ³ ,®³Ȑȩ £ £¤²¨±¤² ³® ®¶ «« ®¥ ³§¤ ¦±®´£ ´¯® ¶§¨¢§ ³§¤ !±¤ !££¨³¨® ¶¨«« ¡¤ ¢®²³±´¢³¤£ǿ £ 7(%2%!3Ǿ ³§¤ #¨³¨¤² £¤²¨±¤ ³® § µ¤ ¯¤±¯¤³´ « ¨¦±¤²²Ǿ ¤¦±¤²² £ ¯ ±ª¨¦ ¤ ²¤¬¤³ ®µ¤± ³§¤ 6 ¢ ³ ,®³ £ ¨ ¥ µ®± ®¥ ³§¤ ¯±®¯¤±³¸ ´¯® ¶§¨¢§ ³§¤ 34-! )¢¤ !±¤ ¨² «®¢ ³¤£ ³® ±¤¯« ¢¤ ³§¤ ¯ ±ª¨¦ ³§ ³ ¶¨«« ¡¤ «®²³ ¶§¤ ³§¤ !±¤ !££¨³¨® ¨² ¢®²³±´¢³¤£ ® ³§¤ ¤·¨²³¨¦ ¯ ±ª¨¦ «®³ȁ 7(%2%!3Ǿ ¨³ ¨² ³§¤ #¨³¨¤²Ȍ £ 3¢§®®« $¨²³±¨¢³Ȍ² ¨³¤³¨® ³® ¬ ·¨¬¨¹¤ ³§¤ ±¤³ « §®´±² ®¥ ³§¤ #®¬¡¨¤£ !±¤ ¦¨µ¤ ³§¤ 3¢§®®« $¨²³±¨¢³Ȍ² ¯±¨®±¨³¸ ¤¤£² ¥®± ¨¢¤ ³¨¬¤ǿ ./7Ǿ 4(%2%&/2%Ǿ )4 )3 (%2%"9 !.$ (%2%). -545!,,9 !'2%%$Ǿ ¨ ¢®²¨£¤± ³¨® ®¥ ¤ ¢§ ¯ ±³¸Ȍ² ¯±®¬¨²¤² £ ¢®²¨£¤± ³¨® ²¤³ ¥®±³§ §¤±¤¨ ² ¥®««®¶²Ȁ I.SUCCESSION /& 02)/2 */).4 0/7%23 !'2%%-%.43ȁ -2- STMA Arena Board Mtg 08/14/17 Page 9 A.4§¤ *®¨³ 0®¶¤±² !¦±¤¤¬¤³ £ ³§¤ - ¦¤¬¤³ !¦±¤¤¬¤³ ±¤ §¤±¤¡¸ ²´¢¢¤¤£¤£ ¡¸ ³§¨² !¦±¤¤¬¤³ȁ )³ ¨² ³§¤ ¨³¤³¨® ®¥ ³§¤ ¯ ±³¨¤² ³§ ³ ³§¨² !¦±¤¤¬¤³ ±¤¯« ¢¤ ³§¤ *®¨³ 0®¶¤±² !¦±¤¤¬¤³ £ ³§¤ - ¦¤¬¤³ AgreementǾ £ ³§ ³ ³§¤ ®¡«¨¦ ³¨®² £ ±¨¦§³² ¯±®µ¨£¤£ ´£¤± ³§®²¤ ¦±¤¤¬¤³² ¢¤ ²¤ȁ II.#/.4).5!4)/. /& */).4 0/7%23 "/!2$ȁ A.4§¤ *®¨³ 0®¶¤±² "® ±£ ¤²³ ¡«¨²§¤£ ¨ ³§¤ *®¨³ 0®¶¤±² !¦±¤¤¬¤³ ²§ «« ¢®³¨´¤ ³® ®¯¤± ³¤ ´£¤± ³§¤ ´³§®±¨³¸ ®¥ ³§¨² !¦±¤¤¬¤³ £ ²§ «« § µ¤ ³§¤ ´³§®±¨³¸ ³® ¤·¤±¢¨²¤ «« ¯®¶¤±² ¶§¨¢§ ±¤ ¢®¬¬® ³® 3³ȁ -¨¢§ ¤«Ǿ A«¡¤±³µ¨««¤ £ ³§¤ 3¢§®®« D¨²³±¨¢³ £ ¶§¨¢§ ±¤ ¤¢¤²² ±¸ £ ¯propr¨ ³¤ ¥®± ³§¤ ®¯¤± ³¨®Ǿ ´²¤Ǿ ¬ ¨³¤ ¢¤ £ ±¤¯ ¨± ®¥ ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨® ³® ³§¤ ¤·³¤³ ³§¤ 3¢§®®« $¨²³±¨¢³ § ² £¤«¤¦ ³¤£ ¨³² ´³§®±¨³¸ ®µ¤± ³§¤ !±¤ !££¨³¨® ³® ³§¤ !±¤ "® ±£ȁ 4§¤ !±¤ "® ±£ ²§ «« § µ¤ ³§¤ ´³§®±¨³¸ ³® £¤³¤±¬¨¤ ¶§ ³ ´²¤² ³§¤ ¥ ¢¨«¨³¸ ¶¨«« ¡¤ ¯´³ ³®Ǿ ¶§¤ ¨¢¤ ¶¨«« ¡¤ ¨²³ ««¤£ ®± ±¤¬®µ¤£Ǿ ³® ¶§®¬ ³§¤ ¥ ¢¨«¨³¸ ²§ «« ¡¤ «¤ ²¤£ ³® £ ´¯® ¶§ ³ ±¤³ « ³¤±¬²Ǿ £ ¶¨³§ ¶§®¬ ³® ¢®³± ¢³ ¥®± µ ±¨®´² ²¤±µ¨¢¤²ȁ 4§¤ !±¤ "® ±£ ¬ ¸ ¥±®¬ ³¨¬¤ ³® ³¨¬¤ ¤³¤± ¨³® ¢®³± ¢³² ¥®± ³§¤ ¬ ¦¤¬¤³ ®¥ ³§¤ !±¤ ȁ B.4§¤ !±¤ "® ±£Ȍ² ¢®¬¯®²¨³¨® ²§ «« have ³¶® ¬¤¬¡¤±² ¯¯®¨³¤£ ¡¸ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤Ǿ ³¶® ¬¤¬¡¤±² ¯¯®¨³¤£ ¡¸ ³§¤ #¨³¸ ®¥ 3³ȁ -¨¢§ ¤«Ǿ £ three ¬¤¬¡¤±² ¯¯®¨³¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ "® ±£ȁ 4§¤ !±¤ "® ±£ ¬ ¸ ¤·¤±¢¨²¤ ¨³² ¯®¶¤±² ¡¸ ±¤²®«´³¨®² £®¯³¤£ ¡¸ ³§¤ ¥¥¨±¬ ³¨µ¤ µ®³¤ ®¥ ¬ ©®±¨³¸ ®¥ ³§¤ "® ±£ ¬¤¬¡¤±² ³ ¯´¡«¨¢ ¬¤¤³¨¦ £´«¸ ¢ ««¤£ȁ -¤¤³¨¦² ®¥ ³§¤ !±¤ "® ±£ ²§ «« ³ ª¤ ¯« ¢¤ ³ ²´¢§ ³¨¬¤² £ «®¢ ³¨®² ² ³§¤ !±¤ "® ±£ £¤³¤±¬¨¤² £ ³§¤ !±¤ "® ±£͒² ¥´¢³¨® ²§ «« ¡¤ ¨ ¢¢®±£ ¢¤ ¶¨³§ ²´¢§ ¡¸« ¶² ² ¨³ £®¯³² ¥±®¬ ³¨¬¤ ³® ³¨¬¤ȁ !±¤ "® ±£ ¬¤¤³¨¦² ²§ «« ¡¤ ®¯¤ ³® ³§¤ ¯´¡«¨¢ ¤·¢¤¯³ ¶§¤ ³§¤ ¨²²´¤ ®± ¨²²´¤² ´£¤± consideratio ¶®´«£ ´³§®±¨¹¤ ¢¨³¸ ®± ²¢§®®« £¨²³±¨¢³ ¡® ±£ ³® ¢«®²¤ ¢¨³¸ ¢®´¢¨« ®± ²¢§®®« £¨²³±¨¢³ ¡® ±£ ¬¤¤³¨¦ ³® ³§¤ ¯´¡«¨¢ȁ .®³¨¢¤ ®¥ ³§¤ !±¤ "® ±£͒² ¬¤¤³¨¦² ²§ «« ¡¤ ¦¨µ¤ ¨ ³§¤ ² ¬¤ ¬ ¤± ² ®³¨¢¤ ®¥ ³§¤ ¢¨³¸ ¢®´¢¨« £ ²¢§®®« £¨²³±¨¢³ ¡® ±£ ¬¤¤³¨¦²ȁ III.#/.6%9!.#% /& 02/0%249 !.$ '2!.4).' /& %!3%-%.4ȁ A.!«¡¤±³µ¨««¤ £ 3³ȁ -¨¢§ ¤« ²§ «« convey µ¨ °´¨³¢« ¨¬ £¤¤£ ³§¤ ¯±®¯¤±³¸ ¨£¤³¨¥¨¤£ ¨ ³§¤ ³³ ¢§¤£ %·§¨¡¨³ ! ³® ³§¤ 3¢§®®« $¨²³±¨¢³ȁ B.5¯® £¤«¨µ¤±¸ ®¥ ³§¤ °´¨³¢« ¨¬ £¤¤£ ¨£¤³¨¥¨¤£ ¨ ¯ ± ¦± ¯§ )IIȁ!ȁ ¡®µ¤Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¯±®µ¨£¤ !«¡¤±³µ¨««¤ £ 3³ȁ -¨¢§ ¤« ¶¨³§ ¯¤±¯¤³´ « ¨¦±¤²²Ǿ ¤¦±¤²² £ ¯ ±ª¨¦ ¤ ²¤¬¤³ ®µ¤± ³§ ³ ¯®±³¨® ®¥ ³§¤ 6 ¢ ³ ,®³ ²§®¶ ® ³§¤ ³³ ¢§¤£ %·§¨¡¨³ "ȁ -3- STMA Arena Board Mtg 08/14/17 Page 10 IV.#/.3425#4)/. /& !2%.! !$$)4)/.ȁ A.4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¢®²³±´¢³ ³§¤ !±¤ !££¨³¨® ² ££¨³¨® ³® ³§¤ ¤·¨²³¨¦ !±¤ ¡´¨«£¨¦ȁ 4§¤ !±¤ !££¨³¨® ²§ «« ¡¤ «®¢ ³¤£ ¤³¨±¤«¸ ® ³§¤ 6 ¢ ³ ,®³ £ ³§¤ ¯±®¯¤±³¸ £¤¤£¤£ ³® ³§¤ 3¢§®®« $¨²³±¨¢³ ² ¨£¤³¨¥¨¤£ ® %·§¨¡¨³ ! Ȩ§¤±¤ ¥³¤± ³§¤ ȏ!±¤ !££¨³¨® 0±®¯¤±³¸Ȑȩȁ 4§¤ !±¤ !££¨³¨® ²§ «« ¢®³ ¨ «« ¤¢¤²² ±¸ ¤°´¨¯¬¤³ ³® ®¯¤± ³¤ ±¤¦´« ³¨® ²¨¹¤ §®¢ª¤¸ ±¨ªȁ B.4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¢®²³±´¢³ ¯ µ¤£ ¯ ±ª¨¦ «®³ ´¯® ³§¤ !±¤ !££¨³¨® 0±®¯¤±³¸ ¢®³ ¨¨¦ ¯¯±®·¨¬ ³¤«¸ ͑͑͑͑͑͑ ¯ ±ª¨¦ ²¯ ¢¤² ¥®± ´²¤ ®¥ ³§¤ ¯ ³±®² ®¥ ³§¤ #®¬¡¨¤£ !±¤ . C.T§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¯ ¸ «« ¢®²³² ²²®¢¨ ³¤£ ¶¨³§ ³§¤ £¤²¨¦ £ constructionǾ £ ¤°´¨¯¯¨¦ ®¥ ³§¤ !±¤ !££¨³¨® £ ³§¤ ¯ ±ª¨¦ «®³ £ ±¤« ³¤£ ¨¬¯±®µ¤¬¤³² ´¯® ³§¤ !±¤ !££¨³¨® 0±®¯¤±³¸. V.OWNERSHIP. A.4§¤ !±¤ !££¨³¨® ²§ «« ¡¤ ¶§®««¸ ®¶¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ȁ B.4§¤ ®¶¤±²§¨¯ ®¥ ³§¤ !±¤ ²§ «« ±¤¬ ¨ ¨ ¤°´ « ¯ ±³² ¶¨³§ ³§¤ !«¡¤±³µ¨««¤Ǿ 3³ȁ -¨¢§ ¤« £ ³§¤ 3¢§®®« $¨²³±¨¢³ȁ C.!«« ¢®¬¬® §¤ ³¨¦Ǿ µ¤³¨« ³¨® £ ¨± ¢®£¨³¨®¨¦ ¤°´¨¯¬¤³ ³§ ³ ¨² ´²¤£ ¡¸ ¡®³§ ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨® ²§ «« ¡¤ ¢®²¨£¤±¤£ ®¤-²¨·³§ ®¶¤£ ¡¸ !«¡¤±³µ¨««¤Ǿ ®¤-²¨·³§ ®¶¤£ ¡¸ 3³ȁ -¨¢§ ¤«Ǿ £ ¥®´±-²¨·³§² ®¶¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ȁ !«« ¢®¬¬® ±¤¥±¨¦¤± ³¨® ¤°´¨¯¬¤³ ³§ ³ ¨² ´²¤£ ¡¸ ¡®³§ ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨® ²§ «« ¡¤ ¢®²¨£¤±¤£ ®¤-²¨·³§ ®¶¤£ ¡¸ !«¡¤±³µ¨««¤Ǿ ®e-²¨·³§ ®¶¤£ ¡¸ 3³ȁ -¨¢§ ¤«Ǿ £ ¥®´±-²¨·³§² ®¶¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ȁ D.!«« ¤°´¨¯¬¤³ ¯´±¢§ ²¤£ ²®«¤«¸ ¶¨³§ !±¤ "® ±£ ¥´£² ²§ «« ¡¤ ³§¤ ¯±®¯¤±³¸ ®¥ ³§¤ !±¤ "® ±£ Ȩ¨ȁ¤ȁ ¨¢¤ ¤£¦¤±Ǿ ¢®¢¤²²¨® ¤°´¨¯¬¤³ ³§ ³ ±¤ ®³ ¥¨·³´±¤² ³³ ¢§¤£ ³® ³§¤ ±¤ «³¸)ȁ E.0±¨®± ³® ³§¤ ¢®¬¬¤¢¤¬¤³ ®¥ ®¯¤± ³¨®² ®¥ ³§¤ !±¤ !££¨³¨®Ǿ ³§¤ !±¤ "® ±£ ²§ «« ¯´±¢§ ²¤ ¤¶ : ¬¡®¨ ¬ ¢§¨¤ ³® ¡¤ ´²¤£ ² ³§¤ ¯±¨¬ ±¸ : ¬¡®¨ ¬ ¢§¨¤ ¥®± ³§¤ #®¬¡¨¤£ !±¤ ȁ 4§¨² : ¬¡®¨ ¬ ¢§¨¤ ²§ «« ¡¤ ¯ ¨£ ¥®± ¶¨³§ !±¤ "® ±£ ¢ ¯¨³ « ¥´£² ³® ³§¤ ¤·³¤³ ²´¢§ ¥´£² ±¤ µ ¨« ¡«¤ȁ ) ³§¤ ¤µ¤³ µ ¨« ¡«¤ !±¤ "® ±£ ¢ ¯¨³ « ¥´£² ±¤ ®³ ²´¥¥¨¢¨¤³ ³® ¢®µ¤± ³§¤ ¥´«« ¯´±¢§ ²¤ ¯±¨¢¤ ®¥ ³§¤ ¤¶ : ¬¡®¨ ¬ ¢§¨¤Ǿ ³§¤ ±¤¬ ¨¨¦ ¥´£² ²§ «« ¡¤ ¯±®µ¨£¤£ ¡¸ ³§¤ #¨³¨¤² £ 3¢§®®« $¨²³±¨¢³ ² ¥®««®¶²Ȁ ΐȝΕ ®¥ ²´¢§ ¥´£² ³® ¡¤ th -4- STMA Arena Board Mtg 08/14/17 Page 11 ¯±®µ¨£¤£ ¡¸ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨«le, 1/6 ®¥ ²´¢§ ¥´£² ³® ¡¤ ¯±®µ¨£¤£ ¡¸ ³§¤ th #¨³¸ ®¥ 3³ȁ -¨¢§ ¤«Ǿ £ ΓȝΕ®¥ ²´¢§ ¥´£² ³® ¡¤ ¯±®µ¨£¤£ ¡¸ ³§¤ 3¢§®®« th $¨²³±¨¢³ȁ /¢¤ ¯´±¢§ ²¤£Ǿ ²´¢§ : ¬¡®¨ ¬ ¢§¨¤ ²§ «« ¡¤ ¢®²¨£¤±¤£ ®¯¤± ³¨® « ²²¤³ ®¥ ³§¤ !±¤ "® ±£ £ ²§ «« ¡¤ ®¶¤£ £ ¬ ¨³ ¨¤£ ¡¸ ³§¤ !±¤ "® ±£ȁ !¸ ¥´³´±¤ : ¬¡®¨ ¬ ¢§¨¤ ¯´±¢§ ²¤² ²§ «« ¡¤ ¯ ¨£ ¥®± ¨ ³§¤ ² ¬¤ ¬ ¤± ² ²¤³ ¥®±³§ ¨ ³§¨² ¯ ± ¦± ¯§ȁ VI.-!.!'%-%.4 !.$ !$-).)342!4)/.ȁ A.Albertville ¶¨«« ´£¤±³ ª¤ ²®«¤ ±¤²¯®²¨¡ility ¥®± ³§¤ ¬ ¦¤¬¤³ £ £¬¨¨²³± ³¨® ®¥ ³§¤ !±¤ !££¨³¨® £ ³§¤ 34-! )¢¤ !±¤ . B.!«« ¯¤±²®¤« ¢³¨µ¤«¸ ¤¦ ¦¤£ ¨ !±¤ ¢³¨µ¨³¨¤² «®¢ ³¤£ ® ²¨³¤ ²§ «« ¡¤ emplo¸¤¤² ®¥ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤ȁ 4§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤Ȍ² ¯¤±²®¤« ¯®«¨¢¸ ¶¨«« ¯¯«¸ ³® «« !±¤ ¤¬¯«®¸¤¤²ȁ C.4§¤ ¯®²¨³¨® ®¥ !±¤ ¬ ¦¤± ¶¨«« ¡¤ ¤·¯ £¤£ ³® ¨¢«´£¤ ³§¤ ¢´±±¤³ £´³¨¤² £ ¬ ¦¤¬¤³ ®¥ ³§¤ !±¤ !££¨³¨®ȁ 4§¤ ¯¤±²® §®«£¨¦ ³§ ³ ¯®²¨³¨® ²§ «« ±¤¬ ¨ £¤¯ ±³¬¤³ §¤ £ «¤µ¤« ¤¬¯«®¸¤¤ ®¥ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤ ´£¤± ³§¤ ²´¯¤±µ¨²¨® ®¥ ³§¤ !«¡¤±³µ¨««¤ #¨³¸ !£¬¨¨²³± ³®± £ ³§¤ !«¡¤±³µ¨««¤ #¨³¸ #®´¢¨«ȁ D.4§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤ ¶¨«« ¡¤ ±¤²¯®²¨¡«¤ ¥®± «« £¬¨¨²³± ³¨µ¤ ¥´¢³¨®² ±¤°´¨±¤£ ¨ ³§¤ ±´¨¦ ®¥ ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨®Ǿ ¨¢«´£¨¦ ¬ ¨³ ¨¨¦ «« ±¤°´¨±¤£ ±¤¢®±£²ȁ Albertville ²³ ¥¥ ²§ «« ¡¤ ³§¤ £¬¨¨²³± ³¨µ¤ ²³ ¥¥ ¥®± ³§¤ !±¤ "® ±£ȁ 4§¤ !«¡¤±³µ¨««¤ #¨³¸ !£¬¨¨²³± ³®±Ǿ ®± ¥±®¬ ³¨¬¤ ³® ³¨¬¤ ®³§¤± Albertville ¤¬¯«®¸¤¤² ² £¨±¤¢³¤£ ¡¸ ³§¤ !«¡¤±³µ¨««¤ #¨³¸ !£¬¨¨²³± ³®±Ǿ ²§ «« ¯±®µ¨£¤ ³§¤ ¬ ¦¤¬¤³ ²¤±µ¨¢¤² ¨ ¥´±³§¤± ¢¤ ®¥ ³§¤ #®¬¡¨¤£ !±¤ operations. 4§¤ !«¡¤±³µ¨««¤ #¨³¸ !£¬¨¨²³± ³®± shall ±¤¯®±³ ³® ³§¤ !±¤ "® ±£ ® ±¤¦´« ± ¡ ²¨²Ǿ ³§¤ ¥±¤°´¤¢¸ ®¥ ¶§¨¢§ ²§ «« ¡¤ £¤³¤±¬¨¤£ ¡¸ ³§¤ !±¤ "® ±£ ¥±®¬ ³¨¬¤ ³® ³¨¬¤ȁ ) ®±£¤± ³® ¥ ¢¨«¨³ ³¤ ³§¤ !±¤ "® ±£Ȍ² ´£¤±²³ £¨¦ ®¥ ³§¤ ®¦®¨¦ ®¯¤± ³¨®² ®¥ ³§¤ #®¬¡¨¤£ Arena, ³§¤ !±¤ "® ±£ ²§ «« § µ¤ ³§¤ ±¨¦§³ ³® ¢¢¤²² ³§¤ ¯¤±²®¤« ¥¨«¤² ®¥ ¸ !«¡¤±³µ¨««¤ ¤¬¯«®¸¤¤² ³§ ³ £¤µ®³¤ ¬ ©®±¨³¸ ®¥ ³§¤¨± ¶®±ª ³¨¬¤ ³® !±¤ - ±¤« ³¤£ £´³¨¤²ȁ 3´¢§ ¢¢¤²² ¡¸ ³§¤ !±¤ "® ±£ ³® !«¡¤±³µ¨««¤ ¤¬¯«®¸¤¤Ȍ² ¯¤±²®¤« ¥¨«¤ ²§ «« ¡¤ «¨¬¨³¤£ ³® ³§ ³ ¯®±³¨® ®¥ ³§¤ ¥¨«¤ ³§ ³ ±¤« ³¤² ³® !±¤ - ±¤« ³¤£ £´³¨¤² £ !±¤ -±¤« ³¤£ ¯¤±¥®±¬ ¢¤ȁ E.!«¡¤±³µ¨««¤ ²§ «« ²¤«¤¢³ £ ¤¬¯«®¸Ǿ ³ ±¤ ²® ¡«¤ ¶ ¦¤²Ǿ ²´¯¤±µ¨²¤Ǿ £¨±¤¢³ £ £¨²¢§ ±¦¤ ¸ ¤¬¯«®¸¤¤² ¤¢¤²² ±¸ ³® ¢ ´²¤ ³§¤ !±¤ !££¨³¨® ³® ¡¤ maintain¤£ £ ®¯¤± ³¤£ ¢®²¨²³¤³ ¶¨³§ ³§¤ 34-! )¢¤ !±¤ ȁ -5- STMA Arena Board Mtg 08/14/17 Page 12 1.!«¡¤±³µ¨««¤ ²§ «« ¡¤ ±¤²¯®²¨¡«¤ ¥®± ¯ ¸±®«« £ ¡¤¤¥¨³² £¬¨¨²³± ³¨® ¥®± ² ¨£ ¤¬¯«®¸¤¤²ȁ 2.!«¡¤±³µ¨««¤ ²§ «« ±¤°´¨±¤ ¢±¨¬¨ « §¨²³®±¸ ¡ ¢ª¦±®´£ ¢§¤¢ª ¥®± «« ¤¬¯«®¸¤¤² ¤¬¯«®¸¤£ ¡¸ !«¡¤±³µ¨««¤ ³® ¯¤±¥®±¬ ²¤±µ¨¢¤² at ³§¤ !±¤ ®± ³§¤ !±¤ !££¨³¨®Ǿ £ ¶¨«« £¨²¢§ ±¦¤ ®± ±¤¯« ¢¤ ¸ ²´¢§ ¤¬¯«®¸¤¤² ¶§® µ¨®« ³¤ ±´«¤² ®¥ ¢®£´¢³ £ȝ®± ±¤¦´« ³¨®² ®¥ !«¡¤±³µ¨««¤ ®± ³§¤ 3¢§®®« $¨²³±¨¢³ȁ 4§¤ 3¢§®®« $¨²³±¨¢³ ¬ ¸ £µ¨²¤ !«¡¤±³µ¨««¤ ® ¯±¤¥¤±±¤£ ¯®«¨¢¨¤² ¥®± ¡ ¢ª¦±®´£ ¢§¤¢ª²ȁ VII.FINANCE A.4§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤ ¶¨«« ¤²³ ¡«¨²§ ³§¤ !±¤ ®¯¤± ³¨® ² a¦¤¢¸ f´£ Ȩȏ!¦¤¢¸ /¯¤± ³¨® &´£Ȑȩ £ ²´¢§ ¥´£ ²§ «« ¡¤ £¤¤¬¤£ ³® ¡¤ ³§¤ ¯±®¯¤±³¸ ®¥ ³§¤ !±¤ "® ±£ȁ 5¯® ¢®¬¬¤¢¤¬¤³ ®¥ ³§¤ ®¯¤± ³¨® ®¥ ³§¤ !±¤ !££¨³¨®Ǿ ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ ²§ «« ¡¤ ´²¤£ ¥®± ®¯¤± ³¨®² ®¥ ³§¤ #®¬¡¨¤£ !±¤ ȁ B.!«« ±¤µ¤´¤² ¦¤¤± ³¤£ ¡¸ ³§¤ #®¬¡¨¤£ !±¤ ®¯¤± ³¨®² ²§ «« ¡¤ ¢±¤£¨³¤£ ³® ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ £ «« ¤·¯¤²¤² ±¤« ³¤£ ³® ³§¤ #®¬¡¨¤£ !±¤ ®¯¤± ³¨®² ²§ «« ¡¤ ¯ ¨£ ¥±®¬ ³§¤ !¦¤¢¸ /¯¤± ³¨® FundǾ ¤·¢¤¯³ ² ²¤³ ¥®±³§ ®³§¤±¶¨²¤ §¤±¤¨ȁ C.) ³§¤ ¤µ¤³ ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ § ² ¤¦ ³¨µ¤ ¡ « ¢¤ that ±¨²¤² ¥³¤± ³§¤ ¢®¬¬¤¢¤¬¤³ ®¥ ®¯¤± ³¨®² ®¥ ³§¤ !±¤ !££¨³¨® £ ³§ ³ ¤¦ ³¨µ¤ ¡ « ¢¤ ¨² ¯±®©¤¢³¤£ ³® « ²³ ¬®±¤ ³§ ΘΏ £ ¸²Ǿ !«¡¤±³µ¨««¤ ²§ «« ®³¨¢¤ ³§¤ !±¤ "® ±£ ®¥ ³§¤ ££¨³¨® « ¬®´³ ¤¢¤²² ±¸ ³® ¯±®¯¤±«¸ ®¯¤± ³¤ ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ £ ³§¤ !±¤ "® ±£ ²§ «« ¥®±¶ ±£ ²´¢§ ££¨³¨® « ¬®´³ ¶¨³§¨ ΕΏ £ ¸² ®¥ ±¤¢¤¨¯³ ®¥ ²´¢§ ®³¨¢¤ȁ )¥ ³§¤ !±¤ "® ±£ ¨² ¨ ¤¤£ ®¥ ££¨³¨® « ¥´£¨¦ ¥±®¬ ³§¤ #¨³¨¤² £ ³§¤ 3¢§®®« $¨²³±¨¢³ ³® ¢®µ¤± ¤¦ ³¨µ¤ ¡ « ¢¤Ǿ ³§¤ #¨³¨¤² ²§ «« ¤ ¢§ ¢®³±¨¡´³¤ ®¤-²¨·³§ ®¥ ³§¤ ¥´£² ¤¤£¤£ ³® ¢®µ¤± ²´¢§ ²§®±³¥ «« £ ³§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¢®³±¨¡´³¤ ¥®´±- ²¨·³§² ®¥ ³§¤ ¥´£² ¤¤£¤£ ³® ¢®µ¤± ²´¢§ ²§®±³¥ ««ȁ !«« ²´¢§ ¥´£² ²§ «« ¡¤ ¯±®µ¨£¤£ ¶¨³§¨ ΒΏ £ ¸² ®¥ ±¤°´¤²³ ¡¸ ³§¤ !±¤ "® ±£ȁ D.) ³§¤ ¤µ¤³ ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ § ² ¤¦ ³¨µ¤ ¡ « ¢¤ ³§ ³ ±¨²¤² ¡¤¥®±¤ ³§¤ ¢®¬¬¤¢¤¬¤³ ®¥ ®¯¤± ³¨®² ®¥ ³§¤ !±¤ !££¨³¨® £ ³§ ³ ¤¦ ³¨µ¤ ¡ « ¢¤ ¨² ¯±®©¤¢³¤£ ³® « ²³ ¬®±¤ ³§ ΘΏ £ ¸²Ǿ ³§¤ #¨³¸ ²§ «« ®³¨¢¤ ³§¤ !±¤ "® ±£ ®¥ ³§¤ ££¨³¨® « ¬®´³ ¤¢¤²² ±¸ ³® ¯±®¯¤±«¸ ®¯¤± ³¤ ³§¤ !¦¤¢¸ Operation &´£ £ ³§¤ !±¤ "® ±£ ²§ «« ¥®±¶ ±£ ²´¢§ ££¨³¨® « ¬®´³ ¶¨³§¨ ΕΏ £ ¸² ®¥ ±¤¢¤¨¯³ ®¥ ²´¢§ -6- STMA Arena Board Mtg 08/14/17 Page 13 ®³¨¢¤ȁ )¥ ³§¤ !±¤ "® ±£ ¨² ¨ ¤¤£ ®¥ ££¨³¨® « ¥´£¨¦ ¥±®¬ ³§¤ #¨³¨¤² £ ³§¤ 3¢§®®« $¨²³±¨¢³ ³® ¢®µ¤± ¤¦ ³¨µ¤ ¡ « ¢¤Ǿ ¤ ¢§ ¯ ±³¸ ³® ³§¨² !¦±¤¤¬¤³ ²§ «« ¢®³±¨¡´³¤ ®¤-³§¨±£ ®¥ ³§¤ ¥´£² ¤¤£¤£ ³® ¢®µ¤± ²´¢§ ²§®±³¥ ««ȁ !«« ²´¢§ ¥´£² ²§ «« ¡¤ ¯±®µ¨£¤£ ¶¨³§¨ ΒΏ £ ¸² ®¥ ±¤°´¤²³ ¡¸ ³§¤ !±¤ "® ±£ȁ E.4§¤ ¤·¨²³¨¦ !¦¤¢¸ ¢ ¯¨³ « ¥´£ §¤«£ ¡¸ !«¡¤±³µ¨««¤ Ȩȏ!¦¤¢¸ # ¯¨³ « &´£Ȑȩ ²§ «« ±¤¬ ¨ ³§¤ ¢ ¯¨³ « ¥´£ ¥®± ³§¤ !±¤ ¤µ¤ ¥³¤± ³§¤ ¢®¬¬¤¢¤¬¤³ ®¥ ®¯¤± ³¨®² ®¥ ³§¤ !±¤ !££¨³¨® £ ²§ «« ³§¤±¤ ¥³¤± ¡¤ ´²¤£ ®«¸ ¥®± ¢ ¯¨³ « ¨¬¯±®µ¤¬¤³² ® ³§¤ !±¤ ®± ¢®¬¬® §¤ ³¨¦Ǿ µ¤³¨« ³¨® £ ¨± ¢®£¨³¨®¨¦ ¤°´¨¯¬¤³ ³§ ³ ¨² ´²¤£ ¡¸ ¡®³§ ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨®ȁ F.4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¤²³ ¡«¨²§ !±¤ !££¨³¨® ¢ ¯¨³ « ¥´£ Ȩȏ!±¤ !££¨³¨® # ¯¨³ « &´£Ȑȩ £ ²§ «« ¡¤ ´²¤£ ®«¸ ¥®± ¢ ¯¨³ « ¨¬¯±®µ¤¬¤³² ® ³§¤ !±¤ !££¨³¨® ®± ¢®¬¬® §¤ ³¨¦Ǿ µ¤³¨« ³¨® £ ¨± ¢®£¨³¨®¨¦ ¤°´¨¯¬¤³ ³§ ³ ¨² ´²¤£ ¡¸ ¡®³§ ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨®ȁ G.!«¡¤±³µ¨««¤ ²§ «« ¤£¤ µ®± ³® ª¤¤¯ ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ ¡ « ¢¤ ³ ³§¤ ¤£ ®¥ ³§¤ ¥¨²¢ « ¸¤ ± ³ ΒΔυ ®¥ ³§¤ ¤²³¨¬ ³¤£ ´ « ¤·¯¤£¨³´±¤² ®¥ ³§¤ !¦¤¢¸ /¯¤± ³¨® Fu£ȁ ) ³§¤ ¤µ¤³ ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ § ² ¤·¢¤²² ¢¢´¬´« ³¤£ ¯±®¥¨³² ®³ ¤¤£¤£ ¥®± ¥´³´±¤ operations Ȩ ² ±¤ ²® ¡«¸ £¤³¤±¬¨¤£ ¡¸ ³§¤ !±¤ "® ±£ȩǾ ²´¢§ ¤·¢¤²² ¯±®¥¨³² ²§ «« ¥¨±²³ ¡¤ ²¯«¨³ ¤µ¤«¸ ¶¨³§ ®¤-§ «¥ ³± ²¥¤±±¤£ ³® ³§¤ !¦¤¢¸ # ¯¨³ « &´£ £ ®¤ § «¥ ³± ²¥¤±±¤£ ³® ³§¤ !±¤ !££¨³¨® # ¯¨³ « &´£ ´³¨« ²´¢§ ¢ ¯¨³ « ¥´£² ±¤ ¥´««¸ ¥´£¤£Ǿ ¨¢«´£¨¦ «« £¤¯±¤¢¨ ³¨®ȁ ) ³§¤ ¤µ¤³ ³§¤ ¢ ¯¨³ « ¥´£² ±¤ ¡®³§ ¥´««¸ ¥´£¤£Ǿ ¸ ¤·¢¤²² ¢¢´¬´« ³¤£ ¯±®¥¨³² ²§ «« ¡¤ distributed ΓȝΕ³§² ³® ³§¤ 3¢§®®« ³® !«¡¤±³µ¨««¤ £ ΐȝΕ ³® 3³ȁ -¨¢§ ¤«ȁ $¨²³±¨¢³Ǿ ΐȝΕ thth H.%·¢¤²² ¥´£² ¶¨³§¨ ³§¤ !¦¤¢¸ /¯¤± ³¨¦ &´£ £ ³§¤ !¦¤¢¸ # ¯¨³ « &´£ ¶¨«« ¡¤ ¨µ¤²³¤£ £ ¬ ¦¤£ ¶¨³§ ®³§¤± #¨³¸ ®¥ !«¡¤±³µ¨««¤ ¥´£² ¡´³ ¶¨«« ³ «« ³¨¬¤² ¡¤ ¢¢®´³¤£ ¥®± ²¤¯ ± ³¤«¸ ¶¨³§¨ ¯ ±³ ®¥ ¢®¬¡¨¤£ ¦¤¢¸ ¥´£ ¥®± ¢¢®´³¨¦ ¯´±¯®²¤²ȁ I.) ³§¤ ¤µ¤³ ³§¤ !±¤ "® ±£ £¤³¤±¬¨¤² ³§ ³ ¢ ¯¨³ « ¤·¯¤£¨³´±¤² ±¤ ±¤°´¨±¤£ ¥®± ³§¤ !±¤ ³§ ³ ±¤ ®³ ¥´««¸ ¥´£¤£ ¥±®¬ ³§¤ !±¤ ¢ ¯¨³ « ¢¢®´³ £ ¶§¨¢§ ±¤°´¨±¤ ¢®³±¨¡´³¨® ¥±®¬ ³§¤ ¯ ±³¨¤² ³® ³§¨² !¦±¤¤¬¤³ ¨ ®±£¤± ³® ¥¨ ¢¤ ²´¢§ ¢ ¯¨³ « ¤·¯¤£¨³´±¤²Ǿ ¤ ¢§ ¯ ±³¸ ³® ³§¨² !¦±¤¤¬¤³ ²§ «« ¢®³±¨¡´³¤ ®¤-³§¨±£ ®¥ ³§¤ ¢®³±¨¡´³¨® ¤¤£¤£ ³® ¥´««¸ ¥´£ ²´¢§ ¢ ¯¨³ « ¤·¯¤£¨³´±¤²ȁ -7- STMA Arena Board Mtg 08/14/17 Page 14 J.I ³§¤ ¤µ¤³ ³§¤ !±¤ "® ±£ £ ³§¤ 3¢§®®« $¨²³±¨¢³ ¡®³§ £¤³¤±¬¨¤ ³§ ³ ¢ ¯¨³ « ¤·¯¤£¨³´±¤² ±¤ ±¤°´¨±¤£ ¥®± ³§¤ !±¤ !££¨³¨® ³§ ³ ±¤ ®³ ¥´««¸ ¥´£¤£ ¥±®¬ ³§¤ !±¤ !££¨³¨® ¢ ¯¨³ « ¢¢®´³ £ ¶§¨¢§ ±¤°´¨±¤ ¢®³±¨¡´³¨® ¥±®¬ ¯ ±³¸ ³® ³§¨² !¦±¤¤¬¤³ ¨ ®±£¤± ³® ¥¨ ¢¤ ²´¢§ ¢ ¯¨³ « ¤·¯¤£¨³´±¤²Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¢®³±¨¡´³¤ ΐΏΏυ ®¥ ³§¤ ¢®³±¨¡´³¨® ¤¤£¤£ ³® ¥´««¸ ¥´£ ²´¢§ ¢ ¯¨³ « expenditures. K.!«« «¨ ¡¨«¨³¨¤² ¥®± ³§¤ £¬¨¨²³± ³¨® ®± ¬ ¦¤¬¤³ ®¥ ³§¤ !±¤ Ǿ ¨¢«´£¨¦ ¡´³ ®³ «¨¬¨³¤£ ³® ³ ·¤²Ǿ ¡¨««²Ǿ ®± ®³§¤± ¥¨²¢ « ®¡«¨¦ ³¨®²Ǿ ±¤ ³§¤ ´«³¨¬ ³¤ ±¤²¯®²¨¡¨«¨³¸ ®¥ ³§¤ !±¤ "® ±£ȁ L.!«¡¤±³µ¨««¤ ²§ «« ®³ ¡¤ ±¤²¯®²¨¡«¤ ¥®± ¸ ¢®²³² ±¤« ³¤£ ³® ³§¤ #®¬¡¨¤£ !±¤ ¬ ¦¤¬¤³ ®± £¬¨¨²³± ³¨®ȁ !«« ¤·¯¤²¤² ¶¨«« ¡¤ £± ¶ ¥±®¬ ³§¤ !¦¤¢¸ Oper ³¨® &´£Ǿ ®± ¨¥ ³§¤±¤ ±¤ ®³ ²´¥¥¨¢¨¤³ ¥´£² ¶¨«« ¡¤ ¢§ ±¦¤£ ¡ ¢ª ³® ³§¤ !±¤ "® ±£ȁ M.4§¤ Albertville ²§ «« ¢ ´²¤ ³§¤ ®¯¤± ³¨®² ®¥ ³§¤ #®¬¡¨¤£ !±¤ ³® ¡¤ ´£¨³¤£ ´ ««¸ȁ N.4§¤ !«¡¤±³µ¨««¤ #¨³¸ #®´¢¨« § ² ´³§®±¨³¸ ³® ¯¯±®µ¤ «« ¡´£¦¤³¤£ ¡¨««² ±¤« ³¤£ ³® ³§¤ !±¤ £ ¸ ´¡´£¦¤³¤£ ¡¨««² ®³ ³® ¤·¢¤¤£ ͡ΔǾΏΏΏȁ 4§¤ ¡¨««²Ǿ ®¢¤ ¯¯±®µ¤£Ǿ ¶¨«« ¡¤ ¯ ¨£ ¥±®¬ ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ȁ O.!¸ ´¡´£¦¤³¤£ £ ´¯« ¤£ ®¯¤± ³¨¦ ¤·¯¤£¨³´±¤² ±¤« ³¤£ ³® ³§¤ #®¬¡¨¤£ !±¤ ¤·¢¤¤£¨¦ ͡ΔǾΏΏΏ ¬´²³ ¡¤ ¯¯±®µ¤£ ¡¸ ³§¤ !±¤ "® ±£ ¯±¨®± ³® ¯ ¸¬¤³ ¡¸ ³§¤ AlbertvilleǾ ¤·¢¤¯³ ¨ ¢ ²¤ ®¥ ®¯¤± ³¨® « ¤¬¤±¦¤¢¸Ǿ ¨ ¶§¨¢§ ¢ ²¤ Albertville ¬ ¸ ¯¯±®µ¤ ²´¢§ ¡¨««² ¶¨³§®´³ ³§¤ ¢®²¤³ ®¥ ³§¤ !±¤ "® ±£ȁ P.!¸ ´¡´£¦¤³¤£ £ ´¯« ¤£ ¢ ¯¨³ « ¤·¯¤£¨³´±¤² ±¤« ³¤£ ³® ³§¤ !±¤ ¤·¢¤¤£¨¦ ͡ΔǾΏΏΏ ¬´²³ ¡¤ ¯¯±®µ¤£ ¡¸ ³§¤ !±¤ "® ±£ ¯±¨®± ³® ¯ ¸¬¤³ ¡¸ AlbertvilleǾ ¤·¢¤¯³ ¨ ¢ ²¤ ®¥ ®¯¤± ³¨® « ¤¬¤±¦¤¢¸Ǿ ¨ ¶§¨¢§ ¢ ²¤ Albertville ¬ ¸ ¯¯±®µ¤ ²´¢§ ¡¨««² ¶¨³§®´³ ³§¤ ¢®²¤³ ®¥ ³§¤ !±¤ "® ±£ȁ Q.!¸ ´¡´£¦¤³¤£ £ ´¯« ¤£ ¢ ¯¨³ « ¤·¯¤£¨³´±¤² ±¤« ³¤£ ³® ³§¤ !±¤ !££¨³¨® ¤·¢¤¤£¨¦ ͡ΔǾΏΏΏ ¬´²³ ¡¤ ¯¯±®µ¤£ ¡¸ ³§¤ !±¤ "® ±£ £ ³§¤ 3¢§®®« $¨²³±¨¢³ ¯±¨®± ³® ¯ ¸¬¤³ ¡¸ AlbertvilleǾ ¤·¢¤¯³ ¨ ¢ ²¤ ®¥ ¤¬¤±¦¤¢¸Ǿ ¨ ¶§¨¢§ ¢ ²¤ Albertville ¬ ¸ ¯¯±®µ¤ ²´¢§ ¡¨««² ¶¨³§®´³ ³§¤ ¢®²¤³ ®¥ ³§¤ !±¤ "® ±£ ®± ³§¤ 3¢§®®« $¨²³±¨¢³ȁ -8- STMA Arena Board Mtg 08/14/17 Page 15 R.4§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤ ²§ «« ¡¤ ±¤²¯®²¨¡«¤ ¥®± «« ¥¨²¢ « ¬ ¦¤¬¤³ £ ¥¨ ¢¨ « ±¤¯®±³¨¦ ±¤°´¤²³¤£ ¡¸ ³§¤ !±¤ Board. S.4§¤ !«¡¤±³µ¨««¤ #¨³¸ !£¬¨¨²³± ³®± ²§ «« ¥®±¶ ±£ £± ¥³ !±¤ "® ±£ ®¥ ¡´£¦¤³ ¥®± ³§¤ #®¬¡¨¤£ !±¤ ³® ³§¤ !±¤ "® ±£ ¡¸ February 28 th ¤ ¢§ ¸¤ ± ¥®± ¨³² ¢®²¨£¤± ³¨®ȁ 4§¤ !±¤ "® ±£ ²§ «« ¯¯±®µ¤ ¡´£¦¤³ ¥®± ³§¤ fiscal ¸¤ ± ¡¸ ³§¤ - ¸ ΐ ¤ ¢§ ¸¤ ±ȁ st T.4§¤ !±¤ "® ±£ ¡´£¦¤³ ²´¡¬¨³³¤£ ¡¸ ³§¤ !«¡¤±³µ¨««¤ #¨³¸ !£¬¨¨²³± ³®± ²§ «« § µ¤ ²¤¯ ± ³¤ ¢ ¯¨³ « ¡´£¦¤³² ¥®± ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨®ȁ 4§¤ !±¤ "® ±£ ²§ «« ¡¤ ±¤²¯®²¨¡«¤ ¥®± ¯¯±®µ¨¦ £ ¥´£¨¦ ³§¤ !±¤ ¢ ¯¨³ « ¡´£¦¤³ £ ³§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¡¤ ±¤²¯®²¨¡«¤ ¥®± ¥´£¨¦ ³§¤ !±¤ !££¨³¨® ¢ ¯¨³ « ¡´£¦¤³ȁ 4§¤ !±¤ !££¨³¨® ¢ ¯¨³ « ¡´£¦¤³ ¬´²³ ¡¤ ¯¯±®µ¤£ ¡¸ ¡®³§ ³§¤ !±¤ "® ±£ £ ³§¤ 3¢§®®« $¨²³±¨¢³ȁ U.4§¤ !±¤ "® ±£ ²§ «« ¢®¬¯¤² ³¤ Albertville ¨ ³§¤ ¬®´³ ®¥ ͑͑͑͑͑͑͑͑͑͡ ¯¤± ¬®³§ ¥®± «« ²¤±µ¨¢¤² ¯±®µ¨£¤£ ¡¸ Albertville ´£¤± ³§¨² Agreement. V.4§¤ ¥¨²¢ « ¸¤ ± ¥®± ³§¤ !±¤ "® ±£ ²§ «« ¡¤ ¥±®¬ * ´ ±¸ ΐ ³® $¤¢¤¬¡¤± Βΐ ´«¤²² £¨¥¥¤±¤³ ¥¨²¢ « ¸¤ ± ¨² ²¤³ ¡¸ ³§¤ !±¤ "® ±£ȁ VIII.INSURANCE A.0±®¯¤±³¸ ¢ ²´ «³¸ £ «¨ ¡¨«¨³¸ )²´± ¢¤ ¥®± ³§¤ !±¤ !££¨³¨® ¡´¨«£¨¦² £ ¤°´¨¯¬¤³ £ «¨ ¡¨«¨³¸ ¨²´± ¢¤ ® !±¤ !££¨³¨® ®¯¤± ³¨®² £ ¦±®´£² ¶¨«« ¡¤ ¬ ¨³ ¨¤£ ¨ ¥´«« ¥®±¢¤ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ ³ «« ³¨¬¤²ȁ 4§¤ ¦¤¤± « «¨ ¡¨«¨³¸ ¨²´± ¢¤ ²§ «« ¡¤ ¨ ³§¤ ¬¨¨¬´¬ ¢®µ¤± ¦¤ ¬®´³ ®¥ ͡ΔΏΏǾΏΏΏ ¯¤± ¯¤±²® £ ͡ΐǾΔΏΏǾΏΏΏ ¯¤± ®¢¢´±±¤¢¤ ®± ³§¤ ¬ ·¨¬´¬ ¬´¨¢¨¯ « ³®±³ «¨ ¡¨«¨³¸ «¨¬¨³² ¢®³ ¨¤£ ¨ -¨¤²®³ 3³ ³´³¤² #§ ¯³¤± ΓΕΕǾ ¶§¨¢§¤µ¤± ¨² ¦±¤ ³¤±ȁ 4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¨¢«´£¤ !«¡¤±³µ¨««¤Ǿ 3³ȁ -¨¢§ ¤« £ ³§¤ !±¤ "® ±£ a² ££¨³¨® « ¨²´±¤£ ® ¸ ¯®«¨¢¨¤² ®¥ «¨ ¡¨«¨³¸ ¨²´± ¢¤ ¢ ±±¨¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ ±¤« ³¨¦ ³® ¸ ´²¤ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ ®¥ ³§¤ !±¤ !££¨³¨®ȁ 4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¨²´±¤ ³§¤ ¡´¨«£¨¦ £ ¨¬¯±®µ¤¬¤³² ¥®± ¥´«« ±¤¯« ¢¤¬¤³ ¢®²³ ¶¨³§ «« ±¨²ª ¥¨±¤ £ ¤·³¤£¤£ ¢®µ¤± ¦¤ ¨²´± ¢¤ȁ B.!«¡¤±³µ¨««¤ ²§ «« ¡¤ ±¤²¯®²¨¡«¤ ¥®± ®¡³ ¨¨¦ ¯±®¯¤±³¸ ¢ ²´ «³¸ £ ¦¤¤± « «¨ ¡¨«¨³¸ ¢®µ¤± ¦¤ ¨ ³§¤ ¬¤ ®¥ ³§¤ !±¤ "® ±£ ¶§¨«¤ ®¯¤± ³¨®² ±¤ ´£¤± ¨³² £¨±¤¢³¨® £ ¢®³±®«ȁ 4§¤ ¦¤¤± « «¨ ¡¨«¨³¸ insur ¢¤ ²§ «« ¡¤ ¨ ³§¤ ¬¨¨¬´¬ ¢®µ¤± ¦¤ ¬®´³ ®¥ ͡ΔΏΏǾΏΏΏ ¯¤± -9- STMA Arena Board Mtg 08/14/17 Page 16 ¯¤±²® £ $1,500,000 ¯¤± ®¢¢´±±¤¢¤ ®± ³§¤ ¬ ·¨¬´¬ ¬´¨¢¨¯ « ³®±³ «¨ ¡¨«¨³¸ «¨¬¨³² ¢®³ ¨¤£ ¨ -¨¤²®³ 3³ ³´³¤² #§ ¯³¤± ΓΕΕǾ ¶§¨¢§¤µ¤± ¨² ¦±¤ ³¤±Ǿ £ ²§ «« ¬¤ ³§¤ !±¤ "® ±£ ² ³§¤ ¬¤£ ¨²´±¤£ £ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤Ǿ ³§¤ #¨³¸ ®¥ 3³ȁ -¨¢§ ¤« £ ³§¤ 3¢§®®« $¨²³±¨¢³ ² ££¨³¨® « ¨²´±¤£sȁ !«¡¤±³µ¨««¤ ¶¨«« ¯±®µ¨£¤ ¢¤±³¨¥¨¢ ³¤² ®¥ ¨²´± ¢¤ ³® ³§¤ 3¢§®®« $¨²³±¨¢³ £ 3³ȁ -¨¢§ ¤« ¤µ¨£¤¢¨¦ «« ¨²´± ¢¤ ¢®µ¤± ¦¤ ±¤°´¨±¤£ ¯´±²´ ³ ³® ³§¨² ¦±¤¤¬¤³ ® ´ « ¡ ²¨²ȁ C.!«¡¤±³µ¨««¤ ²§ «« ¡¤ ±¤²¯®²¨¡«¤ ¥®± ¯±®¢´±¨¦ £ ¬ ¨³ ¨¨¦ ¶®±ª¤±Ȍ² ¢®¬¯¤² ³¨® ¨²´± ¢¤ ¥®± «« #®¬¡¨¤£ !±¤ ¤¬¯«®¸¤¤² ¶§® ±¤ ¤¬¯«®¸¤£ ¡¸ !«¡¤±³µ¨««¤ȁ D.4§¤ ¯±¤¬¨´¬ ¢®²³ ®¥ «« ¨²´± ¢¤ ¯®«¨¢¨¤² ±¤°´¨±¤£ ´£¤± ³§¨² !¦±¤¤¬¤³ ²§ «« ¡¤ ¢®²¨£¤±¤£ ¤·¯¤²¤² ®¥ ³§¤ !±¤ "® ±£ £ ²§ «« ¡¤ ¯ ¨£ ¥±®¬ ®¯¤± ³¨¦ ±¤µ¤´¤²ȁ !¸ ²´¢§ ¨²´± ¢¤ ¯±¤¬¨´¬² ¯ ¨£ ¡¸ !«¡¤±³µ¨««¤ ®± ³§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¡¤ ±¤¨¬¡´±²¤£ ¥±®¬ ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ȁ IX.OPERATIONS ȁ A.2¤³ « 2 tes. 4§¤ !±¤ "® ±£ ²§ «« ²¤³ ³§¤ ±¤³ « ± ³¤² ¥®± ¡®³§ ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨® ³ «¤ ²³ ®¢¤ ´ ««¸ȁ !«¡¤±³µ¨««¤ ²§ «« ¢®««¤¢³ ±¤³² ¥±®¬ «« ¯ ±³¨¤²Ǿ ¨¢«´£¨¦ B.2¤³ « #®««¤¢³¨®²ȁ ³§¤ 3¢§®®« $¨²³±¨¢³Ǿ ´²¨¦ ³§¤ #®¬¡¨¤£ !±¤ £ ²§ «« ª¤¤¯ ±¤¢®±£² ®¥ ±¤³² ¥±®¬ ²´¢§ ´²¤±²ȁ ȁ C.- ¨³¤ ¢¤Ǿ Repair £ 2¤¯« ¢¤¬¤³ 1.!«¡¤±³µ¨««¤ ²§ «« ¡¤ ±¤²¯®²¨¡«¤ ¥®± §®´²¤ª¤¤¯¨¦Ǿ ¢«¤ ¨¦Ǿ ¬ ¨³¤ ¢¤Ǿ ±¤¯ ¨±Ǿ ¨¢¤ ¯±¤¯ ± ³¨® £ ±¤²´±¥ ¢¨¦Ǿ ´³¨«¨³¨¤²Ǿ ¶ ²³¤ ±¤¬®µ «Ǿ £ ²®¶ ±¤¬®µ « ² ¤¤£¤£ ¥®± ³§¤ #®¬¡¨¤£ !±¤ £ ²¨³¤Ǿ ¨ ¬ ¤± ¢®²¨²³¤³ ¶¨³§ ³§¤ ®¯¤± ³¨®² ®¥ ¨¢¤ ±¤ ² ³§±®´¦§®´³ ³§¤ -¤³±®¯®«¨³ -¨¤ ¯®«¨² ±¤ Ǿ ¨¢«´£¨¦ ¬ ¨³¤ ¢¤ ®¥ ³§¤ ¯ ±ª¨¦ «®³ £ ³§¤ ®´³²¨£¤ ¦±®´£²ȁ !«« ¢®²³² ¨¢´±±¤£ ¡¸ !«¡¤±³µ¨««¤ ¨ ¯±®µ¨£¨¦ ³§¤²¤ services ®± ¯±®£´¢³² ²§ «« ¡¤ ¤·¯¤²¤² ®¥ ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ȁ 2.- ¨³¤ ¢¤ £ ±¤¯ ¨± ²§ «« ¨¢«´£¤ ³§¤ ¢®²³ ³® § µ¤ ¤°´¨¯¬¤³ ±¤¯ ¨±¤£Ǿ ³® § µ¤ ¢®²´¬ ¡«¤² ±¤¯« ¢¤£ Ȩ²´¢§ ² : ¬¡®¨ ¡« £¤²Ǿ ¢«¤ ¨¦ ²´¯¯«¨¤²Ǿ ¤³¢ȁȩǾ £ ³® ±¤¯« ¢¤ ¬¨®± ¤°´¨¯¬¤³ ¨³¤¬² Ȩ¨³¤¬² ³§ ³ ¢®²³ «¤²² ³§ ͡ΔǾΏΏΏǾ ²´¢§ ²Ǿ ¡´³ ®³ «¨¬¨³¤£ ³®Ǿ ¬®³®±²Ǿ ¯´¬¯²Ǿ ¥ ´¢¤³²Ǿ µ «µ¤²Ǿ ³¨«¤²Ǿ ¥¨«³¤±²Ǿ § ±£¶ ±¤Ǿ ¤³¢ȁȩȁ -10- STMA Arena Board Mtg 08/14/17 Page 17 3.!«¡¤±³µ¨««¤ ²§ «« ¢ ´²¤ ³® ¡¤ ±¤¯« ¢¤£ ®± ±¤¢®²³±´¢³¤£ «« ¤°´¨¯¬¤³ ³§ ³ ¥ ¨«²Ǿ ¬ «¥´¢³¨®² ®± ®³§¤±¶¨²¤ ¤¤£² ³® ¡¤ ±¤¯« ¢¤£ȁ 4§¤ ¯´±¢§ ²¤ £ ±¤¯« ¢¤¬¤³ ®± ±¤¢®²³±´¢³¨® ®¥ ¨³¤¬² ³§ ³ ¢®²³ ¬®±¤ ³§ ͡ΔǾΏΏΏ ¬´²³ first ¡¤ ¯¯±®µ¤£ ¡¸ ³§¤ !±¤ "® ±£ ¨¥ ²´¢§ ¨³¤¬ ¨² «®¢ ³¤£ ¨ ³§¤ !±¤ £ ¬´²³ first ¡¤ ¯¯±®µ¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ ¨¥ ³§¤ ¨³¤¬ ¨² «®¢ ³¤£ ¨ ³§¤ !±¤ !££¨³¨®ȁ 2¤¯« ¢¤¬¤³ ®± ±¤¢®²³±´¢³¨® ®¥ ¤°´¨¯¬¤³ ¢®²³¨¦ ¬®±¤ ³§ ͡ΔǾΏΏΏ ¨ ³§¤ !±¤ ²§ «« ¡¤ ¢§ ±¦¤£ ³® ³§¤ !¦¤¢¸ # ¯¨³ « &´£ ² ¢ ¯¨³ « ¢®²³ȁ 2¤¯« ¢¤¬¤³ ®± ±¤¢®²³±´¢³¨® ®¥ ¤°´¨¯¬¤³ ¢®²³¨¦ ¬®±¤ ³§ ͡ΔǾΏΏΏ ¨ ³§¤ !±¤ !££¨³¨® ²§ «« ¡¤ ¢§ ±¦¤£ ³® ³§¤ 3¢§®®« $¨²³±¨¢³ ² ¢ ¯¨³ « ¢®²³ȁ 4.#®²³² ±¤« ³¤£ ³® ³§¤ ¯´±¢§ ²¤ £ ±¤¯« ¢¤¬¤³ ®± ±¤¢®²³±´¢³¨® ®¥ ¤°´¨¯¬¤³ ³§ ³ ¢®²³ ¬®±¤ ³§ ͡ΔǾΏΏΏ £ ¶§¨¢§ ±¤ §¤ ³¨¦Ǿ µ¤³¨« ³¨®Ǿ ¨± ¢®£¨³¨®¨¦ refrigeration ®± ¢®¢¤²²¨®² ¤°´¨¯¬¤³ ³§ ³ ±¤ ´²¤£ ¡¸ ¡®³§ ³§¤ !±¤ £ ³§¤ !±¤ !££¨³¨® ²§ «« ¡¤ ¢®²¨£¤±¤£ ®¯¤± ³¨® « ¤·¯¤²¤² ³§ ³ ¶¨«« ¡¤ ¯ ¨£ one-§ «¥ ¥±®¬ ³§¤ !¦¤¢¸ # ¯¨³ « Fund £ ®¤- § «¥ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ȁ D.#®¬¬´¨³¸ 3¯ ¢¤ȁ#¤±³ ¨ ±¤ ² ®¥ ³§¤ #®¬¡¨¤£ !±¤ ³§ ³ ±¤ ®³ ¢ ¯ ¡«¤ ®¥ ²´¯¯®±³¨¦ ¨¢¤ ¬ ¸ ¡¤ ´²¤£ ² ¢®¬¬´¨³¸ ²¯ ¢¤ ®± ¯±¨µ ³¤ ±¤³ « ²¯ ¢¤² ¥±®¬ ³¨¬¤ ³® ³¨¬¤ȁ 4§¤ P ±³¨¤² ³¨¢¨¯ ³¤ ³§ ³ ³§¤²¤ ±¤ ² ¬ ¸ ¡¤ ±¤³¤£ ®´³ ³® µ ±¨®´² ¢®¬¬´¨³¸ ¦±®´¯²Ǿ ®±¦ ¨¹ ³¨®² ®± ¥ ¬¨«¨¤² ¥®± ²¯¤¢¨ « ¤µ¤³²ȁ !«« ±¤³ « ±¤µ¤´¤² £ ®¯¤± ³¨¦ ¤·¯¤²¤² ²²®¢¨ ³¤£ ¶¨³§ ³§¤²¤ ¢®¬¬´¨³¸ ²¯ ¢¤² ²§ «« ¡¤ £¤¤¬¤£ Combined !±¤ ®¯¤± ³¨¦ ±¤µ¤´¤² £ ¤·¯¤²¤²ȁ . E.Scheduling ȁ 1.3¢§®®« $¨²³±¨¢³ 5²¤ a.!² ³§¤ 3¢§®®« $¨²³±¨¢³Ȍ² ¦¨±«² §®¢ª¤¸ ¯±®¦± ¬ ¬¨¦± ³¤² ¡ ¢ª ³® ³§¤ #®¬¡¨¤£ !±¤ Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ¶¨«« ££ ££¨³¨® « ΐΖΕ §®´±² ®¥ ¯± ¢³¨¢¤ ³¨¬¤ȁ 4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ®³ ¡¤ ¢§ ±¦¤£ ¥®± ³§¤²¤ ΐΖΕ §®´±² ®¥ ¯± ¢³¨¢¤ ³¨¬¤Ǿ ¯±®µ¨£¤£ ³§¤ 3¢§®®« $¨²³±¨¢³ § ² ¥¨±²³ ¯ ¨£ ³§¤ ±¤³ « ¢§ ±¦¤² ® ΑΑΑ ¯± ¢³¨¢¤ §®´±² ¨ ³§¤ ² ¬¤ ¥¨²¢ « ¸¤ ± ¨ ¶§¨¢§ ³§¤ ££¨³¨® « ΐΖΕ §®´±² ±¤ ´²¤£Ǿ £ ¯±®µ¨£¤£ ³§ ³ «« 3¢§®®« $¨²³±¨¢³ ¯± ¢³¨¢¤ §®´±² ²§ «« ®¢¢´± ¡¤¥®±¤ Ε ¯ȁ¬ȁ -®£ ¸ ³§±®´¦§ &±¨£ ¸ȁ )¥ ³§¤ 3¢§®®« $¨²³±¨¢³ £®¤² ®³ ´²¤ ¯®±³¨® ®¥ ²´¢§ ££¨³¨® « ΐΖΕ ¯± ¢³¨¢¤ §®´±² ¨ ¸ ¦¨µ¤ ¸¤ ±Ǿ ³§¤ !±¤ "® ±£ ¬ ¸ «¤ ²¤ ²´¢§ §®´±² ³® ®³§¤± ¤³¨³¸ ¥®± ³§ ³ ¸¤ ±ȁ b.4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« § µ¤ ¯±¨®±¨³¸ ´²¤ ®¥ ³§¤ #®¬¡¨¤£ !±¤ £´±¨¦ ³§¤ §¨¦§ ²¢§®®« ¡®¸² £ ¦¨±«² §®¢ª¤¸ ²¤ ²®² ¥®± ¡®¸² £ ¦¨±«² µ ±²¨³¸ £ ©´¨®± µ ±²¨³¸ ¦ ¬¤² £ ¯± ¢³¨¢¤²ȁ -11- STMA Arena Board Mtg 08/14/17 Page 18 c.4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« § µ¤ ³§¤ ¡¨«¨³¸ ³® ´²¤ ³§¤ ®-¨¢¤ ¢®¬¬´¨³¸ £ ¯±¨µ ³¤ ±¤³ « ²¯ ¢¤² ±¤¥¤±±¤£ ³® ¨ ¯ ± ¦± ¯§ IX.D. ¡®µ¤ ³ ® ¢§ ±¦¤ £´±¨¦ ²´¢§ ³¨¬¤² ² ³§¤²¤ ²¯ ¢¤² ±¤ ®³ ®³§¤±¶¨²¤ ±¤³¤£ ®´³ȁ d.4§¤ 3¢§®®« $¨²³±¨¢³ £ !«¡¤±³µ¨««¤ ¶¨«« ¬¤¤³ ¯±¨®± ³® *´¤ ΐ ®¥ ¤ ¢§ ¸¤ ± £´±¨¦ ³§¤ ³¤±¬ ®¥ ³§¨² ¦±¤¤¬¤³ ³® ¤²³ ¡«¨²§ ³§¤ ²¢§¤£´«¤ ¥®± ³§¤ ¤·³ ²¢§®®« ¸¤ ±ȁ 4§¤ ¯±¨¬ ±¸ ¢®²¨£¤± ³¨® ¥®± ²´¢§ ²¢§¤£´«¨¦ ¶¨«« ¡¤ ³® ¢¢®¬¬®£ ³¤ ³§¤ 3¢§®®« $¨²³±¨¢³Ȍ² ¤¤£² ¨ ²¢§¤£´«¨¦ ¦ ¬¤² £ ¯± ¢³¨¢¤² ¥®± ³§¤ ¡®¸² £ ¦¨±«²Ȍ µ ±²¨³¸ £ ©´¨®± µ ±²¨³¸ ¯±®¦± ¬²ȁ 4§¤ 0arties ±¤¢®¦¨¹¤ ³§ ³ ³§¤ ²¢§¤£´«¤ ¨² ¨ « ±¦¤ ¯ ±³ £¨¢³ ³¤£ ¡¸ #®¥¤±¤¢¤ £ -¨¤²®³ 3³ ³¤ (¨¦§ 3¢§®®« ,¤ ¦´¤ Ȩȏ-3(3,Ȑȩ ±´«¤² £ £¨¢³ ³¤²ȁ e.$´±¨¦ ³§¤ §®¢ª¤¸ ²¤ ²® ¤²³ ¡«¨²§¤£ ¡¸ ³§¤ -3(3,Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ¶¨«« ²¢§¤£´«¤ §®¬¤ ¦ ¬¤² ¥®± ³§¤ ¡®¸² £ ¦¨±«² §®¢ª¤¸ ¯±®¦± ¬² ¨ ¡«®¢ª² ®¥ ΓȁΑΔ §®´±² ¤ ¢§ȁ 4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¯ ¸ ¥®± ³§¤ ¨¢¤ ³¨¬¤ ¥®± ³§¤²¤ §®¬¤ ¦ ¬¤² ³ ±¤¦´« ± ±¤³ « ± ³¤²ȁ f.!«« §®¬¤ ¯®²³-²¤ ²® ¦ ¬¤² ¶¨«« ±¤¢¤¨µ¤ ¯±¨®±¨³¸ ¨ ²¢§¤£´«¨¦ £ ¡¤ ¨ ££¨³¨® ³® ³§¤ §®´±² ¯±®µ¨£¤£ ¡®µ¤ȁ g.4§¤ 3¢§®®« $¨²³±¨¢³ ¢ £©´²³ ³§¤ ¬®´³ ®¥ ¨¢¤ ³¨¬¤ ¨³ ±¤³² ¨ ³§¤ #®¬¡¨¤£ !±¤ ® ¸¤ ±-to-¸¤ ± ¡ ²¨² ³® ±¤¥«¤¢³ µ ±²¨³¸ £ ©´¨®± µ ±²¨³¸ §®¢ª¤¸ ¤¤£² £ ±¤°´¨±¤¬¤³²ȁ h.4§¤ !±¤ !££¨³¨® ²§ «« § µ¤ «®¢ª¤± ±®®¬² £¤£¨¢ ³¤£ ¥®± ´²¤ ¤·¢«´²¨µ¤«¸ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ ² ²§®¶ ® %·§¨¡¨³ ͑͑͑͑͑͑͑Ǿ ² ¶¤«« ² ¶¤«« ² ¢® ¢§Ȍ² ±®®¬ ¢¢¤²²¨¡«¤ ®«¸ ³® ³§¤ 3¢§®®« $¨²³±¨¢³ȁ i.) ³§¤ ¤µ¤³ ®¥ ¦ ¬¤ ¢ ¢¤«« ³¨® ¥®± ¸ ±¤ ²®Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¬ ª¤ ¨³² ¡¤²³ ¤¥¥®±³ ³® ¢¢®¬¬®£ ³¤ ±¤²¢§¤£´«¨¦ ®¥ ³§¤ ¦ ¬¤ ¨ ²´¢§ ¬ ¤± ³® ¬¤¤³ ³§¤ ¤¤£² ®¥ !«¡¤±³µ¨««¤Ǿ ³§¤ #®¥¤±¤¢¤ £ MSHSL. (®¶¤µ¤±Ǿ ¨¥ ¤¢¤²² ±¸Ǿ ³§¤ !±¤ "® ±£ ²§ «« ¯¤±¬¨³ ³§¤ ±¤²¢§¤£´«¤£ ¦ ¬¤ ³® ®¢¢´± ¨ ³§¤ !±¤ !££¨³¨® £´±¨¦ §®´±² ®±¨¦¨ ««¸ ¢®³± ¢³¤£ ³® ®³§¤± ¦±®´¯ȁ ) ²´¢§ ¤µ¤³Ǿ ³§¤ ±¤²¢§¤£´«¤£ ¦ ¬¤ ²§ «« ²´¯¤±²¤£¤ ¸ ®³§¤± ²¢§¤£´«¤£ ¨¢¤ ³¨¬¤ £ ³§¤ !±¤ "® ±£ ²§ «« ¢ ¢¤« ³§¤ ¨¢¤ ³¨¬¤ ®¥ ³§¤ ¯±¤µ¨®´²«¸ ²¢§¤£´«¤£ ¦±®´¯ ¨ ¥ µ®± ®¥ ³§¤ 3¢§®®« $¨²³±¨¢³Ȍ² ±¤²¢§¤£´«¤£ ¦ ¬¤ȁ !«« ¢®³± ¢³² ¥®± ¨¢¤ ³¨¬¤ ³§ ³ !«¡¤±³µ¨««¤ ¤·¤¢´³¤² ¶¨³§ ¸ ®±¦ ¨¹ ³¨® ®³§¤± ³§ ³§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¢®³ ¨ ¯±®µ¨²¨® ³§ ³ ««®¶² !«¡¤±³µ¨««¤ ®± ³§¤ !±¤ "® ±£ ³® ¢ ¢¤« ®±¦ ¨¹ ³¨®Ȍ² ¨¢¤ ³¨¬¤ ¨ ¥ µ®± ®¥ ±¤²¢§¤£´«¤£ 3¢§®®« $¨²³±¨¢³ ¦ ¬¤ȁ -12- STMA Arena Board Mtg 08/14/17 Page 19 j.4§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« § µ¤ ³§¤ ®¯³¨® ®¥ ¢§ ±¦¨¦ £¬¨²²¨® ³® ³§¤ ¦¤¤± « ¯´¡«¨¢ ¥®± ¸ ®± «« ®-³®´± ¬¤³ -3(3, §®¢ª¤¸ ¦ ¬¤²ȁ !«« £¬¨²²¨® ¯±®¢¤¤£² ¥±®¬ ²´¢§ ¦ ¬¤² ²§ «« ¡¤«®¦ ²®«¤«¸ ³® ³§¤ 3¢§®®« $¨²³±¨¢³ȁ k.4§¤ 3¢§®®« $¨²³±¨¢³Ǿ ³ ¨³² ®¶ ¤·¯¤²¤Ǿ ¶¨«« ¯±®µ¨£¤ ³§¤ ¥®««®¶¨¦ ²´¯¯®±³ ¥®± ¨³² ¦ ¬¤² £ ¤µ¤³²Ǿ £ ³§¤²¤ ²´¯¯®±³ ¯¤±²®¤« ²§ «« ®³ ¡¤ ¢®²¨£¤±¤£ ¤¬¯«®¸¤¤² ®¥ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤Ȁ (i)³¨¢ª¤³ ¯¤±²®¤«Ǿ ®¯¤± ³¨® ®¥ ³§¤ ³¨¢ª¤³ ³ ¡«¤ £ ±¤¢¤¨¯³ ®¥ «« ³¨¢ª¤³ ² «¤² ±¤µ¤´¤ǿ (ii)¦ ¬¤ ¢®³±®« ²³ ¥¥ȝ« ¶ ¤¥®±¢¤¬¤³ ¯±¤²¤¢¤ǿ £ (iii)ev¤³ ®´¢¤±Ǿ ±¤¥¤±¤¤² £ ¸ ¤¢¤²² ±¸ ®¥¥-¨¢¤ ®¥¥¨¢¨ «²ȁ 2.!«¡¤±³µ¨««¤ ¶¨«« ¢±¤ ³¤ £ ¬ ¨³ ¨ ²¢§¤£´«¤ ¥®± «« §®´±² ®¥ ¨¢¤ ³¨¬¤ ®³ ´²¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ȁ !«¡¤±³µ¨««¤ ¶¨«« ²¤«« µ ¨« ¡«¤ ¨¢¤ ³ ³§¤ ± ³¤ established ¡¸ ³§¤ !±¤ "® ±£ȁ 3.&®± «« ¨¢¤ ³¨¬¤ ´²¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ ¨ ³§¤ #®¬¡¨¤£ !±¤ ®³§¤± ³§ ³§¤ 176 ££¨³¨® « §®´±² ±¤¥¤±±¤£ ³® ¨ ¯ ± ¦± ¯§ IX.E.1.aȁ ¡®µ¤Ǿ ³§¤ 3¢§®®« $¨²³±¨¢³ ²§ «« ¯ ¸ ³® ³§¤ !±¤ "® ±£ ³§¤ ±¤¦´« ± §®´±«¸ ± ³¤ ¢§ ±¦¤£ ¡¸ ³§¤ !±¤ "® ±£ ¥®± ²´¢§ ¨¢¤ ³¨¬¤ȁ F.Concessionsȁ !«¡¤±³µ¨««¤ ²§ «« ¡¤ ±¤²¯®²¨¡«¤ ¥®± ®¯¤± ³¨¦ ³§¤ ¢®¢¤²²¨® ²³ £ ¨ ¢®¬¯«¨ ¢¤ ¶¨³§ «« ¯¯«¨¢ ¡«¤ ±´«¤²Ǿ « ¶² £ ®±£¨ ¢¤²ȁ !«¡¤±³µ¨««¤ ¬ ¸ ¢®³± ¢³ ¶¨³§ ³§¨±£ ¯ ±³¨¤² ³® ±´ ³§¤ ¢®¢¤²²¨® ²³ £ȁ !«« ±¤µ¤´¤ £ ¤·¯¤²¤² ±¤« ³¤£ ³® ³§¤ ¢®¢¤²²¨®² ²§ «« ¡¤ ¢±¤£¨³¤£ ®± £¤¡¨³¤£ ³® ³§¤ !¦¤¢¸ /¯¤± ³¨® &´£ȁ G.3¤±µ¨¢¤ #®³± ¢³²ȁ !«¡¤±³µ¨««¤ ²§ «« ¤³¤± ¨³® ²´¢§ ¢®³± ¢³² ² !«¡¤±³µ¨««¤ ²§ «« £¤¤¬ ¤¢¤²² ±¸ ¥®± ³§¤ ¯´±¯®²¤² ®¥ ¥´±¨²§¨¦ ¤«¤¢³±¨¢¨³¸Ǿ ¦ ²Ǿ ¥´¤«Ǿ ¶ ³¤±Ǿ ³¤«¤¯§®¤²Ǿ ¢«¤ ¨¦Ǿ ²®¶ £ ¨¢¤ ±¤¬®µ «Ǿ ³± ²§ ®± ±´¡¡¨²§ § ´«¨¦ £ ¸ ®³§¤± ²¤±µ¨¢¤² ³§ ³ !«¡¤±³µ¨««¤ £¤¤¬² ±¤ ²® ¡«¸ ¤¢¤²² ±¸ ®± ±¤°´¨±¤£ ¨ ®±£¤± ³® ¬ ¨³ ¨ £ ®¯¤± ³¤ ³§¤ #®¬¡¨¤£ !±¤ ȁ H./¯¤± ³¨¦ (®´±² ¥®± ³§¤ #®¬¡¨¤£ !±¤ . 4§¤ ®±¬ « ®¯¤± ³¨¦ §®´±² ¥®± ³§¤ #®¬¡¨¤£ !±¤ ²§ «« ¡¤ ²¤³ ¡¸ ³§¤ !±¤ "® ±£ ¥±®¬ ³¨¬¤ ³® ³¨¬¤ȁ !«« £µ¤±³¨²¨¦ £¨²¯« ¸¤£ ¨ ³§¤ !±¤ I.!£µ¤±³¨²¨¦ ¨ ³§¤ !±¤ !££¨³¨®ȁ !££¨³¨® ¬´²³ ¥¨±²³ ¡¤ ¯¯±®µ¤£ ¡¸ ³§¤ 3¢§®®« $¨²³±¨¢³ȁ -13- STMA Arena Board Mtg 08/14/17 Page 20 X.$)3054% 2%3/,54)/.ȁ A.!¸ £¨²¯´³¤ ±¨²¨¦ ´£¤± ³§¨² !¦±¤¤¬¤³ ¡¤³¶¤¤ ³§¤ P ±³¨¤² ®± ¸ P ±³¸ £ ³§¤ !±¤ "® ±£ ²§ «« ¥¨±²³ ¡¤ ±¤¥¤±±¤£ ©®¨³«¸ ³® ³§¤ ¢¨³¸ ¢®´¢¨«² ®¥ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤ £ ³§¤ #¨³¸ ®¥ 3³ȁ -¨¢§ ¤«Ǿ £ ³§¤ )3$ ΗΗΔ 3¢§®®« "® ±£ȁ )¥ ³§¤²¤ ¤³¨³¨¤² ±¤ ®³ ©®¨³«¸ ¡«¤ ³® ±¤²®«µ¤ ³§¤ £¨²¯´³¤Ǿ ³§¤ Parties ²§ «« ²´¡¬¨³ ³§¤ ¨²²´¤ ³® ¬¤£¨ ³¨® ¡¸ ¬¤£¨ ³®± ¢¢¤¯³ ¡«¤ ³® ³§¤ 0 ±³¨¤²ȁ )¥ ³§¤ P ±³¨¤² ±¤ ®³ ¡«¤ ³® ¦±¤¤ ´¯® ¬¤£¨ ³®±Ǿ ³§¤ P ±³¨¤² ²§ «« ±¤°´¤²³ ³§ ³ ³§¤ /¥¥¨¢¤ ®¥ !£¬¨¨²³± ³¨µ¤ (¤ ±¨¦²Ǿ -¨¤²®³ $¤¯ ±³¬¤³ ®¥ !£¬¨¨²³± ³¨®Ǿ ¯¯®¨³ ®¤ ®¥ ¨³² ¯¤±²®¤« ®± ¸ ®³§¤± °´ «¨¥¨¤£ ¯¤±²® ®¥ ¨³² ¢§®®²¨¦ ² ¬¤£¨ ³®±ȁ !«« ¢®²³² ®¥ ¬¤£¨ ³¨® ²§ «« ¡¤ ²¯«¨³ ¤°´ ««¸ ¡¤³¶¤¤ ³§¤ #¨³¸ ®¥ 3³ȁ -¨¢§ ¤«Ǿ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤ £ ³§¤ 3¢§®®« $¨²³±¨¢³ȁ B.)¥ ³§¤ £¨²¯´³¤ ¨² ®³ ±¤²®«µ¤£ ¥³¤± ¬¤£¨ ³¨®Ǿ ¸ P ±³¸ ¬ ¸ ¨¨³¨ ³¤ ¢³¨® ¨ 7±¨¦§³ #®´³¸ $¨²³±¨¢³ #®´±³ ²¤¤ª¨¦ ¸ ±¤¬¤£¸ µ ¨« ¡«¤ ´£¤± « ¶ ®± equity. C.4§¨² !¦±¤¤¬¤³ § ² ¡¤¤ ¤·¤¢´³¤£ ¨ ³§¤ 3³ ³¤ ®¥ -¨¤²®³ £ ²§ «« ¡¤ ¦®µ¤±¤£ ¡¸ ³§¤ « ¶² ®¥ -¨¤²®³ ȁ !¸ ¢®´±³ ¢³¨® ²§ «« ¡¤ µ¤´¤£ ¨ 7±¨¦§³ #®´³¸Ǿ -¨¤²®³ ȁ D.4§¤ 0 ±³¨¤² §¤±¤¡¸ ¨±±¤µ®¢ ¡«¸ ¶ ¨µ¤ ¸ £ «« ±¨¦§³ ³® ¬ ¨³ ¨ ¯ ±³¨³¨® ¢³¨® ² ³® ¤ ¢§ P ±³¸Ȍ² ¨³¤±¤²³ ¨ ³§¤ !±¤ ȁ XI.3!,% !.$ %.#5-"2!.#%ȁ A.! 0 ±³¸ ¬ ¸ ®³ µ®«´³ ±¨«¸ ²¤««Ǿ ³± ²¥¤±Ǿ «¤ ²¤Ǿ ¬®±³¦ ¦¤Ǿ ¤¢´¬¡¤± ®± ®³§¤±¶¨²¤ £¨²¯®²¤ ®¥ ¸¨³¤±¤²³ ¨ ³§¤ !±¤ ¶¨³§®´³ ³§¤ ¯±¨®± ¶±¨³³¤ ¢®²¤³ ®¥ ¤ ¢§ ®³§¤± 0 ±³¸ȁ 4§¤ 0 ±³¨¤² ¬ ¸ ¬´³´ ««¸ ¦±¤¤ ³® ²¤«« ®± ¤¢´¬¡¤± ³§¤ ¤³¨±¤ !±¤ ®± ¸ ¯®±³¨® ³§¤±¤®¥ ³ ¸ ³¨¬¤ ¯±®µ¨£¤£ ³§¤ ³¤±¬² £ ¢®£¨³¨®² ®¥ ²´¢§ ² «¤ ®± ¤¢´¬¡± ¢¤ ±¤ ²¤³ ¥®±³§ ¨ ¶±¨³³¤ ¦±¤¤¬¤³ ¶§¨¢§ «« 0 ±³¨¤² ¤·¤¢´³¤ȁ )¥ ³§¤ 0 ±³¨¤² ¦±¤¤ ³® ²¤«« ³§¤ !±¤ ®± ´²¤ ³§¤ !±¤ ² ²¤¢´±¨³¸ ¥®± «® ®± ®³§¤± £µ ¢¤ ¬®¤¸Ǿ ³§¤ ¯±®¢¤¤£² ®¥ ³§¤ ² «¤ ®¥ ³§¤ !±¤ ®± ³§¤ ¯±®¢¤¤£² ®¥ ³§¤ «® ²§ «« ¡¤ ´²¤£ £ ¯¯«¨¤£ ¨ ¬ ¤± ²¤³ ¥®±³§ ¨ ³§¤ ¦±¤¤¬¤³ ¬®¦ £ ¡¤³¶¤¤ ³§¤ 0 ±³¨¤²ȁ B.) ³§¤ ¤µ¤³ ³§¤ !±¤ ¨² ¯±®¯®²¤£ ³® ¡¤ ²®«£ ³® ¤³¨³¸ ®³§¤± ³§ ³§¤ 3¢§®®« $¨²³±¨¢³Ǿ ³§¤ 0 ±³¨¤² ²§ «« ®³ ¤·¤¢´³¤ ¯´±¢§ ²¤ ¦±¤¤¬¤³ ³® ²¤«« ³§¤ !±¤ ´«¤²² ³§¤ ¯±®¯®²¤£ ¯´±¢§ ²¤± ¥¨±²³ ¦±¤¤²Ǿ µ¨ ²¤¯ ± ³¤ ¶±¨³¨¦ ¶¨³§ ³§¤ 3¢§®®« $¨²³±¨¢³Ǿ ³® ±± ¦¤¬¤³ ¶§¤±¤¡¸ ³§¤ ¯±®¯®²¤£ ¯´±¢§ ²¤± ¦±¤¤² ³® ¯ ¸ ³ «¤ ²³ ®¤-§ «¥ ®¥ ³§¤ ´³¨«¨³¨¤² ´²¤£ ¡¸ ³§¤ ¢®¬¬® §¤ ³¨¦Ǿ µ¤³¨« ³¨® £ ¨± ¢®£¨³¨®¨¦ ¤°´¨¯¬¤³ ³§ ³ ¨² ´²¤£ ¡¸ ¡®³§ ³§¤ !±¤ £ -14- STMA Arena Board Mtg 08/14/17 Page 21 ³§¤ !±¤ !££¨³¨®Ǿ £ ¦±¤¤² ³® ¯ ¸ ³ «¤ ²³ ®¤-§ «¥ ®¥ «« ¬ ¨³¤ ¢¤ £ ±¤¯« ¢¤¬¤³ ¢®²³² ®¥ ²´¢§ ¤°´¨¯¬¤³ȁ !¸ ²´¢§ ¦±¤¤¬¤³ ²§ «« ¦¨µ¤ ³§¤ S¢§®®« $¨²³±¨¢³ ³§¤ ²®«¤ ´³§®±¨³¸ ³® ¬ ¨³ ¨ ² ¨£ ¤°´¨¯¬¤³ £ ³® £¤¢¨£¤ ¶§¤ ²´¢§ ¤°´¨¯¬¤³ ²§ «« ¡¤ ±¤¯« ¢¤£ ®± ±¤¯ ¨±¤£ȁ XII.TERMINATION ȁ A.4§¨² !¦±¤¤¬¤³ ²§ «« ¡¤ ¨ ¥´«« ¥®±¢¤ ¥±®¬ ͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑Ǿ ´³¨« *´¤ ΒΏǾ 2019Ǿ ¯±®µ¨£¤£ ³§ ³ ¨³ ²§ «« ³§¤±¤ ¥³¤± ´³®¬ ³¨¢ ««¸ ±¤¤¶ ¥®± ²´¢¢¤²²¨µ¤ one-¸¤ ± ¯¤±¨®£² ¡¤¦¨¨¦ ¤ ¢§ July ΐǾ ´³¨« ³¤±¬¨ ³¤£ ¡¸ ®¤ ®¥ ³§¤ P ±³¨¤² ³® ³§¤ !¦±¤¤¬¤³ȁ 4¤±¬¨ ³¨® ¬ ¸ ®«¸ ¡¤ ¢¢®¬¯«¨²§¤£ ¡¸ ¶±¨³³¤ ®³¨¢¤ £¤«¨µ¤±¤£ ¥±®¬ ®¤ P ±³¸ ³® «« other Parties ® ®± ¡¤¥®±¤ !´¦´²³ 1¨ ¸ st ¢ «¤£ ± ¸¤ ±ȁ /¢¤ ³¨¬¤«¸ £¤«¨µ¤±¤£Ǿ ²´¢§ ®³¨¢¤ ²§ «« ³¤±¬¨ ³¤ ³§¨² Agr¤¤¬¤³ ³ ³§¤ ¤£ ®¥ ³§¤ £ ¸ ® *´¤ ΒΏ ®¥ ³§¤ ¤·³ ¢ «¤£ ± ¸¤ ± ¥³¤± th ³§¤ ®³¨¢¤ ¶ ² ¦¨µ¤Ǿ ¯±®µ¨£¤£Ǿ §®¶¤µ¤±Ǿ ³§ ³ 3¤¢³¨®² )Ǿ ))Ǿ 6Ǿ 8 £ 8)ȁ ®¥ ³§¨² !¦±¤¤¬¤³ ²§ «« ¢®³¨´¤ ¥³¤± ³¤±¬¨ ³¨® ¯´±²´ ³ ³® ³§¨² ¯ ± ¦± ¯§ £ ²§ «« ±¤¬ ¨ ¨ ¤¥¥¤¢³ ´³¨« ³§¤ !±¤ ¨² ® «®¦¤± ©®¨³«¸ ®¶¤£ ¡¸ ³§¤ 0 ±³¨¤² Ȩȏ&¨ « 4¤±¬¨ ³¨®Ȑȩȁ B.5¯® &¨ « 4¤±¬¨ ³¨® ®¥ ³§¨² !¦±¤¤¬¤³Ǿ «« ¤°´¨¯¬¤³ ¬®¤¸ £ ¯±®¯¤±³¸ ®¶¤£ ¡¸ ³§¤ !±¤ "® ±£ ²§ «« ±¤µ¤±³ ³® ©®¨³ ®¶¤±²§¨¯ ¡¸ ³§¤ P ±³¨¤² ¨ ³§¤ ¥®««®¶¨¦ ¯±®¯®±³¨®²Ȁ ®¤-²¨·³§ ¨³¤±¤²³ ¥®± !«¡¤±³µ¨««¤Ǿ ®¤- ²¨·³§ ¨³¤±¤²³ ¥®± 3³ȁ -¨¢§ ¤« £ ¥®´±-²¨·³§Ȍ² ¨³¤±¤²³ ¥®± ³§¤ 3¢§®®« $¨²³±¨¢³ȁ !¸ ®´³²³ £¨¦ £¤¡³ ®¥ ³§¤ !±¤ "® ±£ ´¯® &¨ « 4¤±¬¨ ³¨® £ ¶§¨¢§ ¨² ®³ ±¤³¨±¤£ ¥±®¬ ³§¤ ¯±®¢¤¤£² ®¥ ³§¤ ² «¤ ®¥ !±¤ "® ±£ ²²¤³² ²§ «« ¡¤ ² ³¨²¥¨¤£ ¡¸ ¢®³±¨¡´³¨®² ¥±®¬ ³§¤ 0 ±³¨¤² ¨ ³§¤ ¥®««®¶¨¦ ¯±®¯®±³¨®²Ȁ one- ²¨·³§ ¨³¤±¤²³ ¥®± !«¡¤±³µ¨««¤Ǿ ®¤-²¨·³§ ¨³¤±¤²³ ¥®± 3³ȁ -¨¢§ ¤« £ ¥®´±-²¨·³§Ȍ² ¨³¤±¤²³ ¥®± ³§¤ 3¢§®®« $¨²³±¨¢³ȁ XIII. NOTICE ȁ A.!¸ ®³¨¢¤Ǿ ±¤°´¤²³²Ǿ ¢®²¤³ ®± ¯¯±®µ «Ǿ ±¤°´¨±¤£ ®± ¯¤±¬¨³³¤£ ³® ¡¤ ¦¨µ¤ §¤±¤´£¤±Ǿ ²§ «« ¡¤ ¨ ¶±¨³¨¦ £ ²§ «« ¡¤ £¤¤¬¤£ ¤¥¥¤¢³¨µ¤ Ȩ ȩ ® ³§¤ £ ³¤ £¤«¨µ¤±¤£Ǿ ¨¥ § £ £¤«¨µ¤±¤£Ǿ Ȩ¡ȩ ® ³§¤ £ ³¤ ¬ ¨«¤£ ¡¸ ±¤¦¨²³¤±¤£ ®± ¢¤±³¨¥¨¤£ 5ȁ3ȁ - ¨«Ǿ ±¤³´± ±¤¢¤¨¯³ ±¤°´¤²³¤£Ǿ ¶¨³§ £¤°´ ³¤ ¯®²³ ¦¤ ¥¥¨·¤£Ǿ Ȩ¢ȩ ® ³§¤ £ ³¤ ¶§¤ ²¤³Ǿ ¢§ ±¦¤² ¯±¤-¯ ¨£ ¡¸ ¢®¬¬¤±¢¨ « ®µ¤±¨¦§³ £¤«¨µ¤±¸ ²¤±µ¨¢¤ ®± 5ȁ3ȁ %·¯±¤²² - ¨«Ǿ ² ¤µ¨£¤¢¤£ ¡¸ ²¤±µ¨¢¤ ±¤¢¤¨¯³ ®± %·¯±¤²² - ¨« ¯®²³¬ ±ªȁ B.Notices ²§ «« ¡¤ ££±¤²²¤£ ³® ³§¤ ££±¤²²¤² ²³ ³¤£ ¡¤«®¶ ®± ³® ²´¢§ ®³§¤± ££±¤²² ®± ££±¤²²¤¤ ² ¬ ¸ ¥±®¬ ³¨¬¤ ³® ³¨¬¤ ¡¤ £¤²¨¦ ³¤£ ¡¸ any 0 ±³¸ ¡¸ ®³¨¢¤ ²¨¬¨« ±«¸ ¦¨µ¤ȁ -15- STMA Arena Board Mtg 08/14/17 Page 22 (i)4® !«¡¤±³µ¨««¤Ȁ #¨³¸ ®¥ !«¡¤±³µ¨««¤ ¢ȝ® #¨³¸ !£¬¨¨²³± ³®± ΔΘΔΘ - ¨ !µ¤´¤ .% 0/ "®· Θ !«¡¤±³µ¨««¤Ǿ -. 55301 (ii)4® 3³ȁ -¨¢§ ¤«Ȁ #¨³¸ ®¥ 3³ȁ -¨¢§ ¤« ¢ȝ® #¨³¸ !£¬¨¨²³± ³®± ΐΐΗΏΏ 4®¶ #¤³¤± $±¨µ¤ NE 3´¨³¤ ΒΏΏ 3³ȁ -¨¢§ ¤«Ǿ -. ΔΔΒΖΕ (iii)4® ³§¤ 3¢§®®« $¨strict: )£¤¯¤£¤³ 3¢§®®« $¨²³±¨¢³ .®ȁ ΗΗΔ ¢ȝ® 3´¯¤±¨³¤£¤³ ΐΐΒΓΒ ΔΏ 3³±¤¤³ .% th !«¡¤±³µ¨««¤Ǿ -. 55301 XIV.$!4! 02!#4)#%3 !#4 ȁ !«« ®¥ ³§¤ £ ³ ¢±¤ ³¤£Ǿ ¢®««¤¢³¤£Ǿ ±¤¢¤¨µ¤£Ǿ ²³®±¤£Ǿ ´²¤£Ǿ ¬ ¨³ ¨¤£ ®± £¨²²¤¬¨ ³¤£ ¡¸ ³§¤ #¨³¨¤²Ǿ ³§¤ !±¤ "® ±£ ®± ³§¤ 3¢§®®« $¨²³±¨¢³ ¨ ³§¤ ¯¤±¥®±¬ ¢¤ ®¥ ³§¨² !¦±¤¤¬¤³ ¨² ²´¡©¤¢³ ³® ³§¤ ±¤°´¨±¤¬¤³² ®¥ ³§¤ -¨¤²®³ '®µ¤±¬¤³ $ ³ 0± ¢³¨¢¤² !¢³Ǿ -¨¤²®³ 3³ ³´³¤² #§ ¯³¤± 13. XV.%.4)2% !'2%%-%.4. A.4§¨² !¦±¤¤¬¤³ ¢®²³¨³´³¤² ³§¤ ¤³¨±¤ ¦±¤¤¬¤³ ¡¤³¶¤¤ ³§¤ 0 ±³¨¤² §¤±e³® ¯¤±³ ¨¨¦ ³® ³§¤ ²´¡©¤¢³ ¬ ³³¤± §¤±¤®¥ £ ²´¯¤±²¤£¤² «« ¯±¨®± ¦±¤¤¬¤³²Ǿ ´£¤±²³ £¨¦Ǿ ¤¦®³¨ ³¨®² £ £¨²¢´²²¨®²Ǿ ¶§¤³§¤± ®± « ®± ¶±¨³³¤Ǿ ®¥ ³§¤ P ±³¨¤²ȁ 4§¤±¤ ±¤ ® ¶ ±± ³¨¤²Ǿ ±¤¯±¤²¤³ ³¨®² ®± ¦±¤¤¬¤³² ¬®¦ ³§¤ P ±³¨¤² ¨ ¢®¤¢³¨® ¶¨³§ ³§¤ ²´¡©¤¢³ ¬ ³³¤± §¤±¤®¥Ǿ ¤·¢¤¯³ ² ²¤³ ¥®±³§ ®± ±¤¥¤±±¤£ ³® §¤±¤¨ȁ B.4§¨² !¦±¤¤¬¤³ ²´¯¤±²¤£¤² £ ±¤¯« ¢¤² ³§ ³ *®¨³ 0®¶¤±² !¦±¤¤¬¤³ ¡¤³¶¤¤ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤Ǿ ³§¤ #¨³¸ ®¥ 3³ȁ -¨¢§ ¤« £ ³§¤ 3¢§®®« $¨²³±¨¢³ £ ³¤£ 3¤¯³¤¬¡¤± ΐΔǾ ΐΘΘΖȁ C.4§¨² !¦±¤¤¬¤³ ²´¯¤±²¤£¤² £ ±¤¯« ¢¤² ³§ ³ !¦±¤¤¬¤³ "¤³¶¤¤ ³§¤ #¨³¸ ®¥ !«¡¤±³µ¨««¤ £ ³§¤ 3³ȁ -¨¢§ ¤«-!«¡¤±³µ¨««¤ )¢¤ !±¤ *®¨³ 0®¶¤±² "® ±£ 2¤¦ ±£¨¦ - ¦¤¬¤³ ®¥ ³§¤ !±¤ £ ³¤£ - ±¢§ ΓǾ ΑΏΐΏȁ -16- STMA Arena Board Mtg 08/14/17 Page 23 XVI.AMENDMENT. .® ¬¤£¬¤³² ®± ¬®£¨¥¨¢ ³¨® ®¥ ³§¨² !¦±¤¤¬¤³ ²§ «« ¡¤ £¤¤¬¤£ ¤¥¥¤¢³¨µ¤ ´«¤²² ¬ £¤ ¨ ¶±¨³¨¦ £ ²¨¦¤£ ¡¸ «« 0arties ³® ³§¨² Agreementȁ XVII.WAIVER ȁ .® ¶ ¨µ¤± ®¥ ¸ ®¥ ³§¤ ¯±®µ¨²¨®² ®¥ ³§¨² !¦±¤¤¬¤³ ²§ «« ¢®²³¨³´³¤ ¶ ¨µ¤± ®¥ ¸ ®³§¤± ¯±®µ¨²¨®Ǿ ®± ²§ «« ²´¢§ ¶ ¨µ¤± ¢®²³¨³´³¤ ¢®³¨´¨¦ ¶ µ¨¤± ´«¤²² ®³§¤±¶¨²¤ ¤·¯±¤²²«¸ ¯±®µ¨£¤£ ¨ ¶±¨³¨¦ȁ XVIII.ASSIGNMENT. %·¢¤¯³ ² ®³§¤±¶¨²¤ ¯±®µ¨£¤£ ¥®± §¤±¤¨Ǿ ® P ±³¸ ¬ ¸ ²²¨¦ ³§¨² !¦±¤¤¬¤³ ¶¨³§®´³ ³§¤ ¶±¨³³¤ ¢®²¤³ ®¥ ³§¤ ®³§¤± Partiesȁ !«« ®¥ ³§¤ ³¤±¬² £ ¯±®µ¨²¨®² ®¥ ³§¨² !¦±¤¤¬¤³ ²§ «« ¡¤ ¡¨£¨¦ ´¯® £ ²§ «« ¨´±¤ ³® ³§¤ ¡¤¤¥¨³ ®¥ ³§¤ P ±³¨¤² §¤±¤³® £ ³§¤¨± ±¤²¯¤¢³¨µ¤ ³± ²¥¤±¤¤²Ǿ ²´¢¢¤²²®±² £ ¯¤±¬¨³³¤£ ²²¨¦²ȁ XIX.SEVERABILITY ȁ ) ³§¤ ¤µ¤³ ¸ ¯±®µ¨²¨® ®¥ ³§¨² !¦±¤¤¬¤³ ¨² ¥®´£ ¨µ «¨£ ®± ´¤¥®±¢¤ ¡«¤ ¡¸ ¢®´±³ ®¥ ¢®¬¯¤³¤³ ©´±¨²£¨¢³¨®Ǿ ²´¢§ ¯±®µ¨²¨® ¶¨«« ¡¤ £¤¤¬¤£ ²³±¨¢ª¤ȁ 4§¤ ±¤¬ ¨¨¦ ¯±®µ¨²¨®² ®¥ ³§¨² !¦±¤¤¬¤³ ¶¨«« ¢®³¨´¤ ³® ¡¤ µ «¨£ £ ¡¨£¨¦ £ ³§¤ !¦±¤¤¬¤³ ¶¨«« ¡¤ ±¤¥®±¬¤£ ³® ±¤¯« ¢¤ ³§¤ ²³±¨¢ª¤ ¯±®µ¨²¨® ¶¨³§ µ «¨£ £ ¤¥®±¢¤ ¡«¤ ¯±®µ¨²¨® ³§ ³ ¢®¬¤² ² ¢«®²¤ ² ¯®²²¨¡«¤ ³® ¤·¯±¤²²¨¦ ³§¤ ¨³¤³¨® ®¥ ³§¤ ²³±¨¢ª¤ ¯±®µ¨²¨®ȁ XX.#!04)/.3 !.$ (%!$).'3 ȁ 4§¤ ¢ ¯³¨®² £ ¯ ± ¦± ¯§ §¤ £¨¦² ´²¤£ ¨ ³§¨² !¦±¤¤¬¤³ ±¤ ¥®± ¢®µ¤¨¤¢¤ £ ±¤¥¤±¤¢¤ ®«¸Ǿ £ ²§ «« ®³ ¥¥¤¢³ ³§¤ ¢®²³±´¢³¨® ®± ¨³¤±¯±¤³ ³¨® ®¥ ³§¨² !¦±¤¤¬¤³ ®± ¸ ®¥ ³§¤ ¯±®µ¨²¨®² thereof. XXI.COUNTERPARTS ȁ 4§¨² !¦±¤¤¬¤³ ¬ ¸ ¡¤ ¤·¤¢´³¤£ ¨ ¸ ´¬¡¤± ®¥ ¢®´³¤±¯ ±³²Ǿ ¤ ¢§ ®¥ ¶§¨¢§ ²§ «« ¡¤ £¤¤¬¤£ ®±¨¦¨ «Ǿ ¡´³ «« ®¥ ¶§¨¢§ ²§ «« ¢®²³¨³´³¤ ®¤ £ ³§¤ ² ¬¤ ¨²³±´¬¤³ȁ XXII.%&&%#4)6% $!4%ȁ 4§¨² !¦±¤¤¬¤³ ²§ «« ¡¤ ¤¥¥¤¢³¨µ¤ ´¯® ³§¤ « ³³¤± ®¥Ȁ ΐȩ !¯¯±®µ « ®¥ ¤ ¢§ P ±³¸ ³® ³§¨² !¦±¤¤¬¤³ £ ²´¡²¤°´¤³ ²¨¦ ³´±¤ ® ³§¨² !¦±¤¤¬¤³ ¡¸ ¤ ¢§ P ±³¸ǿ £ Αȩ * ´ ±¸ ΐǾ ΑΏΐΗȁ ).$%0%.$%.4 3#(//, $)342)#4 ./ȁ ΗΗΔ #)49 /& !,"%246),,% Ȩ34ȁ -)#(!%,-!,"%246),,%ȩ "¸Ȁ͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑ "¸Ȁ͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑ )³²Ȁ #§ ¨± Its: By:______________________________ By:___________________________ -17- STMA Arena Board Mtg 08/14/17 Page 24 )³²Ȁ #«¤±ª Its: $ ³¤£Ȁ͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑ $ ³¤£Ȁ͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑ #)49 /& 34ȁ -)#(!%, "¸Ȁ͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑ Its: "¸Ȁ͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑͑ Its: Dated:________________________ -18- STMA Arena Board Mtg 08/14/17 Page 25 STMA M E M O R A N D U M Date: August 14, 2017 To: STMA Arena Board From: Adam Nafstad, City of Albertville Re:Zamboni Purchase At the last Arena Board meeting there was discussion regarding the purchase of a second Zamboni and whether that purchase should be paid with existing Arena Board reserves or solely nd by the School District as part of the 2 sheet Addition project. nd To assist with the discussion staff was asked to identify items associated with the 2 Sheet Addition that benefit (operational or capital) the existing Ice Arena. The staff identified items and associated assumed values are: IMPROVEMENT VALUE to Existing Rink Parking Improvements – new pavement/added stalls $45,000 (to overlay existing) New Concessions $22,500 (annual revenue increase) Advertising $8,000 (annual revenue increase) Showers in Existing Locker Room $20,000 Joint Mechanical Systems $5,000 (annual energy savings) 2 Additional Public Locker Rooms unknown Storage Space in Existing Arena unknown Community Room $2,500 (annual revenue increase) nd Staffing $15,000 (increase without 2 sheet) It should be noted that Joint Operations of two sheets projects a net annual income increase of $36,000 for 2018/2019 (assumed full year of two sheets).