Common use of Added Territory Clause in Contracts

Added Territory. Effective Date of Taxes a. A sales tax imposed by the Authority takes effect in the territory added to the Authority by election or by annexation on the first day of the first calendar quarter following voter approval that begins after the date the Commission receives: i. a certified copy of an order annexing the territory or of an order canvassing the returns and declaring the result of the election; and ii. a map of the Authority showing clearly the territory added. b. The board of the Authority shall send the order, which must include the effective date of the tax, and map required under Section 10.2(a)(ii) to the Commission by certified or registered mail. c. The Commission may delay implementation of the sales tax in the added territory for one calendar quarter by notifying the board of the Authority that the Commission requires more time to provide notice of the rate change to vendors. If implementation is delayed, the tax takes effect on the first day of the second calendar quarter that begins after the date on which the Commission receives the order and map.

Appears in 5 contracts

Samples: Trust Agreement, Trust Agreement, Trust Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!