Bid Book » Book1 » Finance
6.1 FINANCIAL GUARANTEE
The respective covenant confirming the commitments of the Moscow City Government as to the coverage of a potential economic shortfall of the Moscow OCOG has been obtained.
6.2 ADDITIONAL FINANCIAL GUARANTEE
A document confirming the commitments of the Moscow City Government to ensure financing of the Moscow OCOG expenditure during the whole pre-Olympic period is available as an additional guarantee.
6.3 PRICE CONTROL
The respective covenant confirming the commitments of the Moscow City Government to ensure general price control (including hotel rates) in the city in the period before and during the Olympic Games has been obtained.
6.4 MOSCOW OCOG’S ASSETS DISPOSAL
The Moscow OCOG will neither own nor co-own the sports venues of the Games, the Olympic and Media Villages, MPC/IBC or any other buildings and premises designed to be used as administrative, service or auxiliary sites. The above infrastructures (existing and to be built) will be the property of the Moscow City Government, private companies and institutions which will continue operating and maintaining them in a usual manner after the Games.
The Moscow OCOG will hold considerable assets comprising telecommunications equipment, computers, office appliances, furniture, sports inventory, etc. Most of the above is intended to be sold, while a portion of the assets might be disposed of via an auction/tender. The anticipated sales proceeds have been included in the Moscow OCOG budget.
Some part of the Moscow OCOG assets is intended to be donated to the city’s Youth Sports Schools.6.5 TAXES