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the COUNTY or the rate of the Tax is reduced by the COUNTY to the degJ'ee fha/ <br /> <br />?o.)vTzent(s) to to the CIT?rfall belo**; fi/O' (50%) per ce~'~t of the debt servzce on the <br /> <br />Convem~zon Ce~ztet and the agreed upon escro3~' amou~Tl setJorth zn Parrtg~ c~ph 4(c) <br />rd~ovedurmg the te~ df t~s A~eement, then the CO~TY shall pay directly to the <br />CITY, replacement revbnue in equal monthly pa~ents during the remaining te~ of t~s <br />A~eement, so that the CITY may proceed, in accordance with the pu¢oses of this <br />A~eement, with pa~ent for the construction and long-te~ mainten~ce of the <br /> <br /> ~v ............ ~ the ......... ' of the ...... ~ ....... ~ <br /> ~ ............. :~enue, t~c monthly <br /> <br />tunes m., actual <br /> <br /> ....... Th~s <br /> <br />, ..... ~. ~ach 'and every year <br /> <br />............................... ~ It is the understanding of the parties that <br />the COUNTY shall not l~e obligated to replace or supplement the proceeds from the Tax <br /> <br />pursuant to the provisions of this paragraph should those funds diminish as a result of any <br />occurrence not related to a repeal of the Tax or reduction in the rate of the Tax. The <br /> <br />parties further agree that ~pon the retirement in its entirety of the CITY's outstanding <br />indebtedness in relation tb the development of a convention center, the CITY and the <br /> <br />COUNTY upon thirty (30) days written notice to the other parties, shall have the fight to <br />renegotiate the terms of th~s paragraph relating to the repeal or reduction of the Tax and <br /> <br />\council-24822.4 <br /> <br />p8 <br /> <br /> <br />