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AG 1998 11 16
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AG 1998 11 16
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Last modified
3/25/2002 6:09:44 PM
Creation date
11/27/2017 11:52:51 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
11/16/1998
Board
Board of Commissioners
Meeting Type
Regular
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(i) a summary report confirming the current employment levels of BOC at the Facility; <br /> <br />(ii) the average salary of the employees of BOC at the Facility; <br /> <br />(iii) and a copy of the receipt for such property tax payment and any accompanying <br /> <br />correspondence. <br /> <br /> The County agrees that the Grant payments to be made to BOC each year will be made on or <br />before March 1 st each calendar year during the grant period(s) pending the County's receipt of the other <br />items referred to in the preceding sentences. It is understood by all parties that BOC must remain current <br />in the payment of all taxes, fees, charges or other assessments levied by the grantors during the grant <br />period(s). Failure of BOC to pay all taxes associated with BOC's business activities in Cabarrus County <br />may result in termination of the grant payments. <br /> <br /> All parties recognize that, even though the County has chose to use the property tax assessment <br />base as the value criterion for the Cabarrus County Industrial Development Incentive Grant Program, <br />financial incentives offered by the County are not to be considered as allocated from any dedicated <br />revenue resource. Incentives are to be paid from the County's General Fund after appropriate budgetary <br />actions by the County Commission. The County's General Fund consists of revenue sources inclusive of <br />ad valorem taxes, local sales taxes, intergovernmental revenues, permit and fee revenues, sales and <br />service fee revenues, financing sources, interest earnings, and other miscellaneous revenues. Other than <br />established by applicable federal or state law, revenues have no dedicated expenditure purpose. <br /> <br /> SECTION 2. State Incentives. The County agrees to assist BOC in obtaining any incentives, <br />grants and programs that may be or become available from the State of North Carolina and shall "pass <br />through" to the benefit of BOC any incentives, grants and programs that the State of North Carolina <br /> <br /> <br />
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