LEGISLATIVE HISTORY
Convention & Tourism Committee
RESOLUTION NO. RS2008-223
A resolution authorizing the execution and delivery of an Amended and Restated Intergovernmental Project Agreement with the Sports Authority of the Metropolitan Government of Nashville and Davidson County related to the Nashville Arena, and authorizing certain additional actions contemplated thereby.
WHEREAS, pursuant to the authority granted by Substitute Bill No.096-428 adopted on third and final reading by the Metropolitan Council on September 17, 1996 (the “1996 Ordinance”), the Metropolitan Government of Nashville and Davidson County (the “Metropolitan Government”) executed and delivered that certain Intergovernmental Project Agreement (Arena Project) with the Sports Authority of the Metropolitan Government of Nashville and Davidson County (the “Authority”), dated September 17, 1996, as supplemented and amended by Amendment One to Intergovernmental Project Agreement (Arena Project), dated January 21, 1998 (the “Original Intergovernmental Agreement”), relating to the ownership, operation and financing of the Nashville Arena, now known as the Sommet Center (the “Arena”); and
WHEREAS, pursuant to the terms of the Original Intergovernmental Agreement, the Metropolitan Government has assigned, transferred and conveyed to the Authority all right, title and interest in and to the Arena; and
WHEREAS, as contemplated by the Original Intergovernmental Agreement, a National Hockey League expansion team franchise was awarded to Nashville Hockey Club Limited Partnership, a Wisconsin limited partnership (the “NHL Team Owner”), and its National Hockey League team (the “Team”) has played its home games in the Arena pursuant to the terms of that certain License and Use Agreement between the Authority and the NHL Team Owner, dated as of June 25, 1997, as amended (the “License and Use Agreement”); and
WHEREAS, as contemplated by the Original Intergovernmental Agreement, the Authority has engaged Powers Management, L.L.C., a Tennessee limited liability company and affiliate of the NHL Team Owner (“Manager”), to manage the operations of the Arena pursuant to that certain Operating and Management Agreement dated as of June 25, 1997, as amended (the “Management Agreement”); and
WHEREAS, Predators Holdings, LLC, a Delaware limited liability company formerly known as Predators Hockey Club LLC (the “Local Ownership Group”), has purchased all of the outstanding ownership interests in the NHL Team Owner, the Manager and Nashville Predators, LLC, a Delaware limited liability company and general partner of the NHL Team Owner, pursuant to a Purchase Agreement, dated as of August 31, 2007, among the Local Ownership Group and the previous owners of such ownership interests; and
WHEREAS, the Local Ownership Group has proposed certain amendments to the terms of the License and Use Agreement and the Management Agreement, and the Board of Directors of the Authority, by resolution adopted on March 18, 2008 (the “Authority Resolution”), has approved such amendments; and
WHEREAS, the Authority Resolution, together with the forms of Amended and Restated License and Use Agreement and Amended and Restated Operating and Management Agreement approved thereby, are attached hereto as Exhibit A; and
WHEREAS, pursuant to the terms of the Original Intergovernmental Agreement, the terms of the License and Use Agreement and the Management Agreement may not be amended as proposed without the consent of the Metropolitan Government; and
WHEREAS, the Authority Resolution further approved the amending and restating of the Original Intergovernmental Agreement in order to reflect all prior amendments thereto and circumstantial changes that have occurred since the execution thereof and in order to accommodate the proposed terms of the Amended and Restated License and Use Agreement and Amended and Restated Operating and Management Agreement; and
WHEREAS, it is deemed necessary and desirable by the Metropolitan Council of the Metropolitan Government to amend and restate the Original Intergovernmental Agreement for the purposes set forth above; and
WHEREAS, the form of Amended and Restated Intergovernmental Project Agreement (Arena Project) as approved and executed by the Authority is separately attached hereto as Exhibit B (the “Amended and Restated Intergovernmental Agreement”); and
WHEREAS, the 1996 Ordinance provided for the amendment of the Original Intergovernmental Agreement by resolution approved by not fewer than twenty one (21) members of the Metropolitan Council;
NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
SECTION 1. The form, terms and provisions of the Amended and Restated Intergovernmental Agreement, substantially in the form attached hereto as Exhibit B (the “Amended and Restated Intergovernmental Agreement”), are hereby approved and the Mayor is hereby authorized, empowered and directed to execute and deliver the Amended and Restated Intergovernmental Agreement in the name and on behalf of the Metropolitan Government in substantially the form now before this meeting, with such changes therein as shall be approved by him, his execution thereof to constitute conclusive evidence of his approval of any and all such changes. From and after the execution and delivery of the Amended and Restated Intergovernmental Agreement, the officers of the Metropolitan Government or any of them, are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of the Amended and Restated Intergovernmental Agreement as executed.
SECTION 2. All acts and doings of the Mayor, the Director of Finance and any other officer of the Metropolitan Government which are in conformity with the purposes and intent of this Resolution shall be and the same hereby are in all respects, approved and confirmed, including without limitation the reclassification of revenues of the Metropolitan Government for the fiscal year ending June 30, 2008 as may be necessary or appropriate in order for the Metropolitan Government to comply with the terms of the Amended and Restated Intergovernmental Agreement.
SECTION 3. The Metropolitan Council hereby consents to the Authority’s execution and delivery of the Amended and Restated License and Use Agreement and Amended and Restated Operating and Management Agreement in substantially the forms attached hereto as Exhibit A.
SECTION 4. This Resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government requiring it.
Sponsored by: Mike Jameson, Erik Cole, Greg Adkins
Other attachment(s) on file in the Metropolitan Clerk's Office
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LEGISLATIVE HISTORY |
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| Referred: | Budget
& Finance Committee Convention & Tourism Committee |
| Introduced: | April 1, 2008 |
| Deferred: | April 1, 2008 |
| Adopted: | April 15, 2008 - Roll Call Vote |
| Approved: | April 18, 2008 |
| By: | |