Vote: approved

Item Text

27. MARICOPA COUNTY EVENTS CENTER DONATIONS Approve the return of approximately $1,014,000 (principle plus interest) of funds that were donated for the purpose of stage house improvements at the Maricopa County Events Center. The stage house improvements were not made; the funds remain unexpended, and will be returned in accordance with the terms of the Donation Agreement. The Board of Supervisors approved the acceptance of these donated funds on May 16, 2007 (Agenda #C-62-07-002-1-00). On May 16, 2007, the Board of Supervisors approved a Donation Agreement that provided dedicated funds for the purpose of stage house improvements at the Maricopa County Events Center (Agenda # C-62-07-002-1-00). In accordance with the agreement, these funds are being returned to the donor because the funds have not been used for their intended purpose, and the Maricopa County Events Center (formerly known as the Sundome Center for the Performing Arts) was returned to the Arizona Board of Regents in January 2009. These funds have been held in a separate interest bearing account and the return of the funds will have no impact on the General Fund. (C-71-09-005-D-00)