Approving Agreement of Operations Hotel-Motel Tax Board Civic Center Board of Managers

Home Browse Search

such vacancy in appointment shall be filled by the Judge of the St. Joseph County Circuit Court on petition of any interested party. The decision of a majority of the arbitrators shall have the same effect as if made by the joint committee. SECTION 10. LIABILITY The Board of Managers shall have no responsibility for any loss or damage sustained to the convention facilities or the building arising from any cause whatsoever, or to any person or persons on or about the premises and the City and Century Center Board shall defend and hold harmless the Board of Managers for any such loss or damage. SECTION 11. REVENUES All revenues from whatever source derived from the convention facility and its operation shall be separately accounted for and shall be expended solely for the management, operation, salaried personnel, maintenance, upkeep, improvement, equipping, expansion and /or promotion of the convention facility in accordance with adopted budgets for the convention facility, provided that profits, if any, not budgeted for expenditures during the ensuing twelve (12) month period may be held in a contingency fund for utilization against future operations to support activities and operations and expansion of the convention facility in the future. In the event both boards determine that funds in the con- tingency fund are in excess of the anticipated needs for future contingen- cies, both boards may agree by concurred in action, to apply such excess to amounts due from the Board of Managers under this agreement and, in the event an excess remains, then the same shall be payable to the City of South Bend. In the event portions of the Century Center building other than the convention facility are utilized by persons, groups or organizations who also are using the convention facility, the separate and additional net income earned for the utilization of non - convention facilities shall be treated as convention facility revenues for the'purpose of determining losses which the Board of Managers may be responsible to pay, but shall not be revenues of the convention facility. SECTION 12. PARKING It is understood and agreed that 360 parking spaces will be made available on site for the convention facility, at least until such time