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AG 1997 07 21
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AG 1997 07 21
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Last modified
3/25/2002 6:29:29 PM
Creation date
11/27/2017 11:54:02 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/21/1997
Board
Board of Commissioners
Meeting Type
Regular
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(B). Separate Grant. <br /> <br /> Any investments by IMSA other than the investments subject to the Initial Grant <br />shall (if the Program still exists) be eligible for consideration as separate Grants trader <br />the Program. In this case, the City, the County, and IMSA will execute separate <br />written agreements. <br /> <br />The separate Grants shall include the following investments: <br /> 1. The investments for the Project which is made after IMSA's qualification for <br /> the Initial Grant, excluding additional investments of the Initial Grant as <br /> specified in the last Paragraph of Subsection (A). <br />2. The investments outside the Project. - <br /> <br />SECTION 2.' State Incentives <br /> <br /> The City and the County agree to assist IMSA in obtaining any incentives, grants or <br />programs that may be or become available from the State of North Carolina and shall <br />"pass through" to the benefit of IMSA any incentives, grants or programs that the State of <br />North Carolina provides to cities and counties for economic development purposes, <br />including without limitation incentives in the nature of those referred to in the attached <br />EXHIBIT E. <br /> <br />SECTION 3. Validity of Incentives. <br /> <br /> As stated in the Program, no change in the Program after the date hereof shall apply <br />to the provisions of this Agreement or to the Facility (as it may be expanded). In the <br />event one or more lawsuits or other proceedings are brought against the City or the <br />County or any elected official of the City or the County challenging the legality of this <br />Agreement or any portion thereof, then the City and the County shall defend IMSA <br />against any and all such lawsuits or other proceedings, including appealing any adverse <br />judgment to the appropriate court. In the event that any of the incentives, agreements or <br />other assistances by of the City or the County are determined to be invalid, the City and <br />the County agree that they will, to the extent permitted by law, provide IMSA with <br />incentives of substantially equal value pursuant to one or more replacement grant <br />incentive programs. <br /> <br />SECTION 4. Miscellaneous. <br /> <br />4.1 Notices. All notices, certificates or other communications required <br />by or made pursuant to this Agreement shall be deemed sufficiently given <br />when delivered or mailed by registered or certified mail, postage prepaid or <br />sent by telefacsimile (confirmed by the party providing notice) as follows:' <br /> <br />4 <br /> <br /> <br />
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