AG 1998 11 16 - Laserfiche WebLink

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(i) a summary report confirming the current employment levels of BOC at the Facility; (ii) the average salary of the employees of BOC at the Facility; (iii) and a copy of the receipt for such property tax payment and any accompanying correspondence. The County agrees that the Grant payments to be made to BOC each year will be made on or before March 1 st each calendar year during the grant period(s) pending the County's receipt of the other items referred to in the preceding sentences. It is understood by all parties that BOC must remain current in the payment of all taxes, fees, charges or other assessments levied by the grantors during the grant period(s). Failure of BOC to pay all taxes associated with BOC's business activities in Cabarrus County may result in termination of the grant payments. All parties recognize that, even though the County has chose to use the property tax assessment base as the value criterion for the Cabarrus County Industrial Development Incentive Grant Program, financial incentives offered by the County are not to be considered as allocated from any dedicated revenue resource. Incentives are to be paid from the County's General Fund after appropriate budgetary actions by the County Commission. The County's General Fund consists 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 earnings, and other miscellaneous revenues. Other than established by applicable federal or state law, revenues have no dedicated expenditure purpose. SECTION 2. State Incentives. The County agrees to assist BOC in obtaining any incentives, grants and programs that may be or become available from the State of North Carolina and shall "pass through" to the benefit of BOC any incentives, grants and programs that the State of North Carolina