tailieunhanh - The Metropolitan Sports Facilities Commission Financial Audit For the Year Ended December 31, 1998 April 1999 Financial Audit Division Office of the Legislative Auditor State of Minnesota_part3

Ủy ban Cơ sở vật chất đô thị thể thao thu được bằng cách bằng văn bản cho các quản trị viên MSRS kế hoạch hệ thống Minnesota hưu trí nhà nước, 175 West Lafayette Frontage Road, Suite 300, St Paul, Minnesota 55107. Tài trợ chính sách Minnesota Điều lệ, Chương 352, thiết lập tỷ lệ cho những đóng góp của nhân viên và người sử dụng lao động. | Metropolitan Sports Facilities Commission obtained by writing to the MSRS plan administrator at the Minnesota State Retirement System 175 West Lafayette Frontage Road Suite 300 St. Paul Minnesota 55107. Funding policy Minnesota Statutes Chapter 352 sets the rate for employee and employer contributions. Contributions are made to the fund by employees and the Commission based on a percentage of gross salary. The actuarially determined required contribution rates were percent for 1998 and percent for 1997. During 1998 the rates were percent for employees and percent for the Commission. The Commission s contributions to MSRS for the years ending December 31 1998 1997 and 1996 were 93 468 90 473 and 70 047 respectively. 7 Minnesota Twins In 1997 the Minnesota Twins served notice upon the Commission that their obligation to play all home games at the Metrodome through 2011 is terminated under certain provisions of the Use Agreement effective as of the end of the 1998 baseball season. On April 1 1998 the Commission filed in Hennepin County District Court an action contesting the Twins termination of the Use Agreement. The Commission sought declaratory and injunctive relief requiring the Twins to continue to play home games at the Metrodome through 2011 and further sought money damages. The parties views differed as to whether the Twins met either of two conditions specified in the Use Agreement that would allow early termination of the agreement after the 1998 season. The Twins counterclaimed for attorneys fees and lost revenues of over 100 million by reason of abuse of process. The dispute was settled by a stipulated dismissal approved by the Court on September 1 1998. Pursuant to the settlement the Commission and the Twins entered into a new and restated 1998 Baseball Use Agreement. That agreement obligates the Twins to play games at the Metrodome through October 31 2000 the Twins have the right to remain in the Metrodome office space through .