Title
RESOLUTION AUTHORIZING AN AGREEMENT WITH SPIRIT MOUNTAIN RECREATION AREA AUTHORITY FOR 2018 IN THE AMOUNT OF $275,000 FOR OPERATING ASSISTANCE AND $145,700 FOR ADVENTURE PARK LEASE PAYMENTS.
Body
CITY PROPOSAL:
WHEREAS; the city council approved $275,000 as an operating subsidy and $145,700 for adventure park lease payments to the Spirit Mountain Recreation Area Authority in resolution 17-0877R passed on December 11, 2017 that appropriated the estimated 2018 hotel-motel and food and beverage tourism taxes.
RESOLVED, that the proper city officials are hereby authorized to enter into an agreement, substantially in the form of that attached as Exhibit A, with Spirit Mountain Recreation Area Authority in the amount of $275,000 for operating assistance and $145,700 for Adventure Park lease payments, payable from Tourism Tax Fund 258, Finance 030, Tourism Tax Allocation 5436, Spirit Mountain 07.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes an agreement with Spirit Mountain for 2018 to provide $275,000 for operating assistance and $145,700 for lease payments. This agreement is funded by tourism tax collections.