Resolution 4043 - Laserfiche WebLink

WHEREAS, the City of Everett also levies a hotel/motel tax, and in the past has paid for baseball stadium improvements using a portion of the revenues generated from that tax; and WHEREAS, because of the benefits to the public from the City's recreational facilities, the City Council is willing to continue to pay$52,311 per year of its hotel/motel tax revenues for baseball stadium seats through the year 1999, and for baseball stadium improvements commencing in the year 2000 and continuing through the year 2014; and WHEREAS, Snohomish County has expressed a desire to fund the remaining bond obligation for baseball stadium seats with proceeds of their bond issue; and WHEREAS, minor league baseball has agreed to provide the City with free tickets to five percent of the total seating available during a season in the baseball stadium; such tickets are to be used for public purposes as determined by the City. The City anticipates that it will use the tickets to provide entertainment at no cost to the City's underprivileged residents. In addition, minor league baseball has agreed to construct a covered area at the stadium for community use as well as other consideration in exchange for the benefits the team receives from stadium improvements; and WHEREAS, the City will receive consideration from the Everett School District including assurances of opportunities for further public use of the baseball stadium recreational facility; and WHEREAS, the City of Everett will have no further financial responsibility for said facility, including those improvements partially funded by the City; and WHEREAS, Bond Counsel has concluded that this proposed transaction is lawful and for a proper public purpose; and WHEREAS, Bond Counsel has reviewed the Resolution, approving the transaction to fund the improvement of recreational facilities within the City and has approved it for City Council consideration. NOW, THEREFORE, BE IT RESOLVED that based on Snohomish County's commitment to fund the remaining $219,142 stadium seat obligation out of bond proceeds prior to June 30, 1995, the Everett City Council hereby commits to baseball stadium improvements the amount of$52,311 per year of the City's hotel/motel tax revenues, commencing in the year 1995 and continuing through the year 2014. FURTHER, the Everett City Council hereby authorizes the Mayor to sign such documents as may be required by Snohomish County to confirm this commitment.