05-0189R

REPLACEMENT

RESOLUTION AUTHORIZING A TRANSFER OF $150,000 FROM THE TOURISM TAX CAPITAL IMPROVEMENTS FUND NO. 258 FUND BALANCE IN PART TO THE LAKE SUPERIOR CENTER AUTHORITY TO PAY THE COST OF PERMANENT TANKS AND IN PART TO LAKE SUPERIOR CENTER FOR THE PAYMENT OF EXHIBIT TRANSPORTATION COSTS AND MARKETING COSTS ASSOCIATED WITH THE EXHIBIT KNOWN AS THE ABYSS.

BY COUNCILOR STEWART:

     WHEREAS, Ripley Entertainment, Inc., has made available to the Lake Superior Center for lease an exhibit called The Abyss; and

     WHEREAS, the Lake Superior Center will need to install permanent tanks to host this exhibit at a cost of $118,000 and needs to have immediately at hand an additional $32,000 toward the transportation and marketing of the exhibit; and

     WHEREAS, the Great Lakes Aquarium task force, in its report, indicated that interesting and new exhibits are essential to solidifying and increasing the annual paid attendance at the Lake Superior Center.

     NOW, THEREFORE, BE IT RESOLVED, that the proper city officials are hereby authorized to transfer from the Tourism Tax Capital Improvement Fund No. 258, the sum of $118,000 to a special city of Duluth account and to allow Lake Superior Center authority, the owner of the facility, to draw down funds therefrom on condition that said funds be used by the authority solely and exclusively for the installation of permanent tanks in the changing exhibit room of the facility and to transfer the sum of $32,000 to Lake Superior Center on the condition that said funds be used by the center solely and exclusively to pay the cost of transporting and marketing the exhibit known as The Abyss.


STATEMENT OF PURPOSE: The purpose of this resolution is to provide the Lake Superior Center authority with $118,000 to be applied toward the construction of permanent tanks which will be initially used in connection with the exhibit The Abyss and the sum of $32,000 to Lake Superior Center to pay toward the transportation and marketing cost of the exhibit known at The Abyss. In both cases, the transfers are made conditionally and the proceeds are to be solely and exclusively for the purpose set forth in the resolution. The funding to come from available balance in the tourism capital improvements fund.

 

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