AG 2010 11 15 - Laserfiche WebLink

Home Browse Search

ARTICLE III THE PUBLIC IMPROVEMENTS SECTION 3.1. Public Improvement List and Priorities. The City and the County acknowledge that the County Contribution is intended to assist in the funding of the Bond Public Improvements. The Bond Public Improvements shown on Schedule A are divided into the following categories: City improvements and County Improvements and each is assigned a priority for funding. Each of the City and the County may change or alter the priority of funding, the scope, the design or the plan for a project identified as its Improvement, but may not alter the priority of funding, the scope, the design or the plan for the other's Improvement. All other changes to the Bond Public Improvements shall be approved by both the City and the County. In connection with the Alternative Financing, there is an addendum Schedule A -lfor Alternative Financing Public Improvements. Each of the City and the County may change or alter the priority of funding, the scope, the design or the plan for a project identified as its Improvement, but may not alter the priority of funding, the scope, the design or the plan for the other's Improvement. All other changes to the Alternative Financing Public Improvements shall be approved by both the City and the County. SECTION 3.2. Ownership of Public Improvements. All Public Improvements shall be owned by the State, one of its agencies or political subdivisions or some other governmental entity or instrumentality. SECTION 3.3. Health Alliance Facility. The City acknowledges that provision of funding for the Health Alliance Facility is a primary concern of the County. Accordingly, the City agrees that it will set aside the sum of $15 million from the Alternative Financing or the initial issue of Bonds, as the case may be, to provide funds for the Health Alliance Facility. The City also agrees that it will submit promptly for payment by the Trustee any requisition for costs for the Health Alliance Facility provided by the County and take all action under the Indenture necessary to process any such request. The City and the County agree that the City will have no authority or responsibility for the design and construction of the Health Alliance Facility unless the County requests it to do so. ARTICLE IV MISCELLANEOUS SECTION 4.1. Tax Collections. The County acknowledges that its Department of Tax Administration is responsible for assessment of all property for purposes of taxation and for collection of taxes imposed by the County and the City with respect to property within the boundaries of the City that is located in the County and serves as the Tax Assessor and the Tax Collector. The County agrees to proceed diligently to collect all taxes due including amounts due under the Minimum Assessment Assessed Value Agreement and to provide for the performance of the duties of the Tax Assessor thereunder with respect to that portion of the Development Financing District located in the County. The County further agrees to provide the City's Chief Financial Officer with the assessed value of all property located in that portion of the Development Financing District within the County not later than June 15 of each year. SECTION 4.2. Schedule of Payments. There shall be attached to this Agreement as Schedule B a schedule of payments which shall initially include only the Alternative Financing. Schedule B shall set forth the annual payment requirements for the Alternative Financing and any Bonds (which shall be net of any payment requirements funded from the proceeds of the Alternative Financing or any Bonds) for each calendar year which shall be divided between the amount due from the Issuer Contribution Account and the County Contribution Account. Upon each issuance of the Bonds or any Additional Bonds or upon M Attachment number 4 Page 139 G -3