RESOLUTION NO. RS2010-1271

A resolution authorizing the execution and delivery of the First Amendment to the Amended and Restated Intergovernmental Project Agreement with the Sports Authority of the Metropolitan Government of Nashville and Davidson County related to the Nashville Arena.

WHEREAS, pursuant to the authority granted by Resolution No. RS2008-223 adopted on April 15, 2008, the Metropolitan Government of Nashville and Davidson County (the “Metropolitan Government”) executed and delivered that certain Amended and Restated Intergovernmental Project Agreement (Arena Project) (the “Intergovernmental Agreement”) with the Sports Authority of the Metropolitan Government of Nashville and Davidson County (the “Authority”), dated August 18, 2008, relating to the ownership, operation and financing of the Nashville Arena, now known as the Bridgestone Arena (the “Arena”); and,

WHEREAS, the first sentence of Section 3(a) of the Intergovernmental Agreement does not correctly reflect the mutual understanding and intentions of the Metropolitan Government and the Sports Authority (collectively, the “Parties”); and,

WHEREAS, the Parties have performed pursuant to their mutual understanding and intentions since April 18, 2008; and,

WHEREAS, at its meeting on August 21, 2009, the Board of the Sports Authority conditionally approved and authorized the execution of the First Amendment to the Intergovernmental Agreement, a copy of which is attached hereto as Exhibit A; which would amend the first sentence of Section 3(a) of the Intergovernmental Agreement so as to conform it to a correct reflection of the mutual understanding and intentions of the Parties, effective retroactive to the original effective date of the Intergovernmental Agreement; and,

WHEREAS, following the satisfaction of the condition of the Sports Authority’s Board’s approval of the First Amendment to the Intergovernmental Agreement, the First Amendment was executed by the Chair of the Sports Authority on June 14, 2010; and,

WHEREAS, the Parties wish to amend Section 3(a) of the Intergovernmental Agreement to be consistent with their mutual understanding and intentions.

NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That the First Amendment to the Intergovernmental Agreement attached hereto as Exhibit A is hereby approved and the Metropolitan Mayor is hereby authorized to execute it on behalf of the Metropolitan Government.

Section 2. That this Resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government requiring it.

Sponsored by: Ronnie Steine, Erik Cole

Attachment(s) on file in the Metropolitan Clerk's Office

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee Convention & Tourism Committee
Introduced:	July 20, 2010
Adopted:	July 20, 2010
Approved:	July 23, 2010
By: