AG 1999 08 30 - Laserfiche WebLink

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Ail parties recognize that. even though the County and City have selected to use the property tax assessment base as the value criterion for the Industrial Development Incentive Grant Programs, financial incentives offered by the County. and City are not to be considered as allocated from any dedicated revenue resource. Incentives are to be paid from the County's and City's General Funds after appropriate budgetary actions by the County Commission and City Council. The County and City General Funds consist of revenue sources inclusive of ad valorem taxes, local sales taxes, intergovernmental revenues, permit and fee revenues, sales and service fee revenues, financing sources, interest eamings, and other miscellaneous revenues. Other than as established by applicable federal or state law. revenues have no dedicated expenditure purpose. SECTION 2. State Incentives. Ire County and City agree to assist the Company in obtaining any' incentives, grants and programs that may be or become available form the State of North Carolina and shall "pass through" to the benefit of the Company any incentives, grants, and programs that the State of North Carolina provides to cities and counties for economic development purposes, including withont limitations, incentives in the nature of those referred to in the attached E.,chibit F (IF APPLICABLE). SECTION 3. Validity of Incentives. As stated in the Program, no change in the Program after the date hereof shall apply to the provisions of this Agreement or to the Facility. In the event one or more lawsuits or other proceedings are brought against the County, City or.any elected or appointed official of either local government challenging the legality of this Agreement or any portion thereof, then the CounD' and City shall defend against any and all such lawsuits or other proceedings, including appealing any adverse judgement to the appropriate Court. In the event that any of the incentives or other a~eements of that the County and City are determined to be invalid, the Comity and City a~ee. that they w/IL to the extent permitted by laxv, attempt to provide the Company w-ith incentives of substantially equal value pursuant to one or more replacement grant incentive programs. The Company'. at its own expense, may choose to participate in litigation defending the Industrial Development Incentive Grant Program, this Agreement or any other legal challenge brought by third parties see 'king to invalidate the Program, Grants or Agreements approved and awarded prior to or after the date of this Agreement. SECTION 4. Miscellaneous. 4.1 Notices. All notices, certificates or other communications required by or made pursuant to this Agreement shall be sufficiently ~ven and shall be deemed given when delivered or mailed by registered or certified mail, postage prepaid or sent by telefacsimile (corrfinmed by the party Providing notice) as follows: The County: Cabarrus County Governmental Center Post Office Box 707 Concord. North Carolina 28026-0707 Attention: County Manager Telefacsimile No. (704) 788-9820 City: Concord Post Office Box 308 Concord, North Carolina 28026-0388 Attention: City Manager Telefacslmile No. (704) 786-7068