AG 2003 08 11 - Laserfiche WebLink

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with replacement revenues to be paid by the COUNTY. Further, the parties agree that they shall renegotiate these prowsions in good froth, based upon the mrcumstances existing at the time, and that should an agreement not be reached, the parties shall settle their dispute according to the terms of the grievance procedure set out in this Agreement. Replacement Revenue for Non-Payment of Monthly Payment. In the event the CITY does not receive from the AUTHORITY or NEI,'?A UTHOR/TY a monthly payment of the net proceeds of the Tax in accordance with the provisions of paragraph 4 hereto as a result of the COLrNTY not making a required monthly payment to the AUTHORITY or NE~'F AUTHORITY, then the COUNTY shall pay directly to the CITY replacement revenue so that the CITY may proceed, in accordance with the purposes of this Agreement, with financing the construction and long-term maintenance of the convention center. The amount of the replacement revenue shall be equivalent to the amount of the net proceeds, as defined in the Enabling Legislation, of the Tax which the COUNTY is to distribute to the AUTHORITY or NEI. I/A UTHOR[TY for the applicable month less the amount of the monthly payment, if any, actually made by the AUTHORITY or N£~'F,4 UTHORJTY to the CITY. The monthly payment shall be made within ten (10) days after the CITY notifies the COUNTY of the non-payment of a monthly payment. Upon the receipt of the required monthly payment by the CITY from the AUTHORITY or NEI4"~ [_]THOR[T); the CITY shall reimburse the COUNTY within ten (10) days the replacement revenue it received pursuant to the provisions of th~s paragraph to the extent the CITY receives funds fi-om the AUTHORITY or N£I4',4 UTHORITY which the replacement revenue supplanted. \counc11-24822-4 p. 9