Amount of Admissions Tax (Incremental) Grant Sample Clauses

Amount of Admissions Tax (Incremental) Grant. The Admissions Tax (Incremental) Grant is an annual grant in an amount equal to the incremental amount of admissions tax paid for admissions to the Arena pursuant to Chapter 26, Article IX of the City Code, as that ordinance may be amended from time to time, that is attributable to any increase in the admissions tax rate beyond the rate that applies to the Arena for the Tax Year commencing January 1, 2019. The City’s Director of Finance shall calculate the amount of admissions taxes assessed, levied, and timely paid to the City on admission to the Arena within 30 days following the end of the Fiscal Year in which such taxes were received. Subject to section 6.1 of the Cooperation Agreement, section 2.3 of this Grant Agreement, and the satisfaction of the conditions set forth in this Grant Agreement, the City shall furnish the Authority with funds in the amount so calculated within 60 days following the end of the Fiscal Year in which such taxes were received, and subject to section 6.2.1 of the Cooperation Agreement, the Authority shall deposit the Admissions Tax (Incremental) Grant in the Renewal Work Account in accordance with the Arena Lease.
Sample 1
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Related to Amount of Admissions Tax (Incremental) Grant

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