HomeMy WebLinkAbout87-24
~.
THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW 87-24
being a by-law to authorize the execution
of a memorandum of understanding with The
Steering Committee for the Arena Fund
Raising Project
THE COUNCIL OF THE CORPORATION OF THE TOWN OF NEWCASTLE
HEREBY ENACTS AS FOLLOWS~
THAT the Mayor and Clerk are hereby authorized to execute~
on behalf of the Corporation of the Town of Newcastle, and
Seal with the Corporation Seal, a memorandum of understanding
between The Steering Committee for the Arena Fund Raising
Project and the said Corporation, a copy of which agreement
is attached as Schedule "X".
BY-law read a first and second time this 26th day of January~ 1987
By-law read a third time and finally passed this 26th day of
January, 1987
Mayor
.:I\))~.-t1~....
Clerk
.- .
I MEMORANDUM OF UNDERSTANDING
made this 26th day of January, 1987
7- L/
"..
BET WEE N:
THE COUNCIL OF THE TOWN OF NEWCASTLE
hereinafter called "the Town"
OF THE FIRST PART
and
TilE STEERING COMMITTEE FOR THE ARENA FUNDRAISING PROJOCT
hereinafter called "the Steering Comni ttee"
OF THE SECOND PART
WHEREAS pursuant to Council Resolution #C-434-86 item 8 the Steering
Committee has entered upon a campaign to raise public funds for the
purpose of constructing an arena with banquet facilities on the
northwest corner of Highway 2 and Regional road 57,
AND WHEREAS the Steering Committee is now prepared to establish it-
self as a committee independent of Council for the purpose of solic-
iting funds with respect to the arena project,
AND WHEREAS, a successful fundraising campaign requires the close
co-ordination and co-operation of the Town and the Steering
Comnittee,
NOW THEREFORE in consideration of the premises the Town and the
Steering Committee have agreed to enter into this Memorandum of
Understanding as follows:
1. The Steering Committee accepts the responsibility for collect-
ing all of the funds including following up of any pledges, and,
the payment of all expenses relating to the fundraising
activities.
2. The Steering Committee shall report monthly to the Town
Treasurer on the financial status of the campaign and shall
remit funds collected to the Town Treasurer when requested, to
meet project costs.
3. The net target of funds to be raised is $750,000.00.
4. The Steering Committee may recomnend to the Town the disposition
of any funds collected in excess of those stated in item 3.
s. The Arena Project is dependent significantly on the funds to be
raised by the steering Committee in order to offset a portion of
the overall cost of the project to the Town, otherwise,
additional monies will have to be raised through other means
determined appropriate by the Town.
6. The Town is financially responsible for this project.
7. The TOwn is responsible for any funding through Ontario
Municipal Board approval(s), Ontario Hydro Impact funds,
and any other available grants.
. . .2
- 2 -
..
.
..
8. Any Arena project Team established by the Town shall include up
to three members selected by the Steering Committee representing
user interests.
9. All fund-raising publicity releases will be made by the Steering
Committee in consultation with the Chief Administrative Officer
of the Town.
10. This Memornndum of Understanding will remain in effect until all
of the pledges are collected and accounted for by the Steering
comni ttee.
IN WITNESS WHEREOF the Parties hereto have executed this
Memorandum of Understanding.
. THE COUNCIL OF THE TCMN OF
NEW:ASTLE
Per:
Mayor
Clerk
THE STEERING COMMITTEE FOR THE
ARENA FUNDRAISING PROJECT
--
Per:
Cha i rman
~
-ft;:.;C':: / . . } }1 /' /} /)
- 4 ( r-i -t.I' .I-a..-i (t. ..y./ ~d.A.A::-
,...... /.- Secretary
"./" ',71 7 -- .. -. ----::::::-
.' V , .~....... ____
~.. _,. I ..,~-
Treasurer
Ii.
~~;~: