Agenda - 10-04-1993 - VIII-A - Laserfiche WebLink

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;�Li 7J l o Jb r't-iKf•,�� r.�� r-11.4111...) 71 y ijc d u:4o,-r r. r V - I PPAB DRAFT 9/28/93 NORTH CAROLINA TRIANGLE COMMUNITY ACTIVITY CENTER SWIMMING POOL ORANGE COUNTY FACILITIES/SER'V'ICES AGREEMENT This Agreement(the "Agreement") made and entered into this day of 1993,by and between TRIANGLE YOUTH HOCKEY ASSOCIATION("TYHA").,a non-profit corporation duly incorporated under the laws of the State of North Carolina, and ORANGE COUNTY (the "County"), a body politic and corporate existing under North Carolina law: WITNESSETH• WHEREAS, the Orange County Board of Commissioners (the "Board") has determined that there is a need for a public swimming pool accessible to all residents of the County; WHEREAS, the Board has evaluated several options for providing a public swimming pool accessible to all residents of the County; WHEREAS, the Board has appropriated an initial amount of funding for the construction of a public swimming pool facility in the County's 1992-91 Capital Improvements Plan; and WHEREAS, TYHA is a non-profit organization managing recreational activities in the County; and WHEREAS, TYHA has proposed the construction of a Triangle Community Activity Center ("TCAC"), which would include an olympic-sized swimming pool (the "TCAC Pool") and other facilities, including an ice rink; and WHEREAS, TYHA proposes to finance construction of the TCAC through a "63-20" financing (the "TYHA Financing") in which TYHA would issue its own corporate debt and the County would not be liable for any payment of that debt; and WHEREAS, due to economies of scale and other factors, TYHA would be able to provide and maintain the TCAC Pool on a more efficient basis than the County could if the County were to build and operate its own pool; and WHEREAS, the County is authorized to make public expenditures for parks and recreation; and WFIEREA.S, the County is authorized to awstraat with private entities for any public purpose; and