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Home My WebLink AboutR-76-0494RFC/tb 5/10/16 RESOLUTION NO. /6-404 A RESOLUTION AUTHORIZING AND DIRECTING THE CITY MANAGER TO EXECUTE AN AGREEMENT WITH CHAMPION SPARK PLUG COMPANY FOR THE STAGING OF THE SIXTH ANNUAL CHAMPION SPARK PLUG UNLIMITED REGATTA AT MIAMI MARINE STADIUM ON MAY 21, 22 AND 23, 1976. BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The City Manager is hereby authorized and directed to execute an agreement with the Champion Spark Plug Company for the staging of the Sixth Annual Champion Spark Plug Unlimited Regatta at the Miami Marine Stadium on May 21, 22 and 23, 1976. PASSED AND ADOPTED this 13 day of MAY 1976. MAURICE A. FERRE H. D. SOUTHERN CITY CLERK PREPARED AND APPROVED BY: /e z74tt ROBERT F. CLARK Assistant City Attorney APPROVED AS TO FORM AND CORRECTNESS: JiHN S. LLOYD �:ty Attorney MAYOR "DOCUMENT .INDEX ITEM NO. (Pip ft • 47.1 MM id 1 AGREEMENT made this 8th day of March 1976 by and between the City of Miami, Florida ("the City"), Champion Spark Plug Company, a Corporation Organized under the laws of Delaware having its principal office in Toledo, Ohio ("Champion") , and the Florida Inboard Racing Club, inc., halting an Office at 2145 No. State Road 7, Margate, FL 33063. Through its Department of Publicity and 'Tourism, the City desires to produce an unlimited hydroplane racing event ("the Event") , to be held at Marine Stadium, Miami, Florida, commencing May 21, 1976 and continuing through May 23, 1976, or on other dates mutually agreed upon by the parties. In con- sideration of certain promotional and advertising opportunities, hereinafter described, Champion is willing to advance, subject to reimbursement, certain funds to facilitate the production of the Event. The parties agree, therefore, as follows: 1. The Event will consist of an unlimited hydroplane race, run in series of separate races or heats, and conducted under the sanction of the American Power Boat Association, Unlimited Division. The Event may also in- clude races of other than Unlimited class boats, conducted under the auspices of the Florida Inboard Racing Club, Inc. 2. The City will have entire charge of the production of the Dent, and of the conduct of the races of which the Event consists. Without limiting the generality of the foregoing, the City will provide for the Event the facili- ties of the Marine Stadium, including the services of ticket takers, ushers, attendants and security personnel; it will provide facilities and equipment for the accommodation ation of boats entered in the rams; it will arrange for the attendance of ambulances, a doctor and other appropriate first -aid services and facilities; it will arrange for the layout, marking and policing of the 1 race course and obtain from the Coast Guard or other appropriate governmental authority permission to conduct the races; it Will obtain for the Event and the races the sanction and approval of the American power Boat Association, Unlimited Division, and produce the Event and conduct the races in accordance with the terms and conditions of such sanction and approval, and it will pro- vide or arrange for officials for the conduct and judging of the races, admit contestants and award prizes. 3. In the production of the Event and the conduct of the races (whether in the respects specifically mentioned in paragraph 2 above or other- wise), Champion shall have no responsibility, participation or right of control whatsoever. Champion shall have no share in'the profits c r proceeds of sales of admission tickets for the Event, except for Champion's right to obtain re- imbursement of funds it has advanced as provided in paragraph 7 below. The City undertakes to indemnify Champion and hold Champion harmless from any and all claims for personal injury or property damage by whomsoever suffered, and fLuu any and all claims of any person for prizes, services performed or goods furnished; arising out of or in connection with production of the Event or con- duct of any of the races. 4. The Event shall be named and promoted as the "Champion Spark Plug Unlimited Regatta." Champion and the City will cooperate in publicizing and promoting the Event, and the tinning and form of the City's initial public an- nouncement of the Event shall be subject to Champion's approval. Expenses of such publicity and promotion shall in each case be borne by the party incurring the saner, without reimbursement from the other party. Champion shall be en- titled to refer to and depict the Event in its own corporate and product - 3- advertising, as Champion in its judgment deems appropriate. The City may, with and subject to Chanpiohas approval (which Champion May for any reason withhold), sell or otherwise grant television broadcast or motion picture rights to the Event. The parties hereto understand that the American power boat Association Unlimited Division Radio Network is granted free and es<clu- sive rights to the Event. 5. The city agrees not to enter into an agreement with any other oonmerical sponsor for the Event without the prior written consent of Champion having first been obtained. The City agrees to qualify its Sanction Application to the American Power Boat Association contingent upon the terms of this Agree- trent. The City further grants to Champion the right of first refusal to sponsor the Event in 1977. 6. Champion shall advance to the parties named below the following sums of money: a. One thousand seven hundred dollars ($1,700). payable to the American Power Boat Association Unlimited Fund upon filing of sanction fee for this Event, representing ten percent (10%) partial prize Honey. b. Fifteen thousand three hundred dollars ($15,300) payable to the American Power Boat Association Unlimited Fund on or before May 15, 1976, subject to a two percent (2%) dis- count if paid by such date, representing the balance of the prim money. Ci A Sanction Fee of One thousand tido hundred dollar($1#200) payable to the Ameritan Pa./et Beet AssoCiation. (aid bh January 29# 1976) An estimated insurance premium of One thousand dollars ($1,000) payable to the American Pacer Boat Association. (paid on January 29, 1976.) e. One thousanddollars ($1,000) shall be paid to each owner whose boat qualifies and officially starts the unlimited hydroplane race, said amount shall be known as a "start fee" to be paid to the American Power Boat Association for owner reimbursement within sixty (60) days after close of the Event. f. One thousand five hundred dollars ($1,500) payable to the Florida Inboard Racing Club representing purse money for limited hydroplane winners. 7. Champion shall be reimbursed by the City, out of the net proceeds of the Event, a sum equal to the lesser of (1) the amount of such net proceeds; or (2) $17,000. As used herein, "net proceeds" means the total of all income derived by the City from sales of admission tickets to the Event, less the total of any sales, admissions of other excise taxes levied directly on such sales of admission tickets. This Agreement may be terminated at the option of either Champion or the City of Miami if it is determined by either party that event contemplated hereunder is not in the best interests of the nation or oonimunity where race is to be Mid because of an adverse national economy, energy or fuel situation in genaral or due to lack of or limited fuel supply within the Miami netxo- politan area which may exist prior to or on the date of the event. ' t 4 4 j • , If the Event is for ahy reason not held by the City, ot if the Event is held at a time other than May 21-23, 1976 without Champion's consent (which Champion may for any reason Withhold), then the City shall in either case te. imburse Champion a sum equal to the total of all monies previously advanced by Champion to the city. IN WITNESS t IV" 20 the parties have caused this Agreement to be eXecUted by their respective officers and officials on the date first above wtitten. CITY OF MIME FLORIDA WITNESS: By ATrEST: /, { J. iVGarwood Assistant Secretary CHAMPION SPARK PLUG COMPANY By Vice -President Advertising and Merchandising FLORIDA INBOARD RACING CLUB, INC. By Approved as to Content Approved as to Form and Correctness: 7•-• El!`Of, ci A..tv , • , 1,4 • •