Amount of Payments; Place of Payment. In lieu of all general ad valorem real and personal property taxes on the Project as permitted by K.S.A. 79-201a Second, for the 10 calendar years commencing with the first calendar year after the calendar year in which the Bonds are issued, the Tenant shall pay, if due, by separate check to the Treasurer of Xxxxxxx County, Kansas (the “County”), or other appropriate officer as required by the laws of the State of Kansas, a payment in lieu of taxes (“PILOT”) in the amount calculated pursuant to Exhibit B to this Agreement as adjusted as provided therein and, if applicable, in accordance with Section 8 of this Agreement. Such amount shall be billed to the Tenant by statement of the County Clerk of the County (or such other appropriate officer of the County or City) which xxxx shall be issued approximately contemporaneously with the issuance of general tax bills in the State of Kansas and shall be due on the dates and in the percentages ad valorem property taxes are due in the State of Kansas. Currently, tax bills are issued by November 20th of each year and are due as follows: one‑half (1/2) on or before December 20th in respect of the PILOT for the then current calendar year, and the remainder for such calendar year on or before May 10th of the following calendar year. There shall be no property tax exemption for the land or for any portion of the facility or equipment located at the Project site or elsewhere that has not been financed with the proceeds of the Bonds unless such portion of the facility or equipment has been specifically exempted from taxation in connection with, and purchased with the proceeds of, another series of industrial revenue bonds subsequently issued by the City. Further, and notwithstanding anything in this Agreement to the contrary, the property tax exemption referred to in this Section shall not exempt the Project or any portion thereof from any tax levy which, at the time of the issuance of the Bonds, cannot be abated pursuant to Kansas law.
Amount of Payments; Place of Payment. In lieu of general ad valorem property taxes on the Project for the ten (10) calendar years following the year in which the Bonds are issued, except as provided in Section 4 herein, the Tenant shall pay by separate check to the Treasurer of Sedgwick County, Kansas, or other appropriate office as directed by the Issuer, on or before December 20 in each of the years, with the privilege of half payment as provided by law for general ad valorem taxes, a payment in lieu of taxes, the total amount of which is specified below, to be distributed as and for a part of the general ad valorem tax collections for all taxing subdivisions in which the Project is located. The total amount of the payments shall be determined as follows: Calendar Year Payment in Lieu of Taxes 2 0% 3 0% 4 0% 5 0% 6 50% 7 50% 8 50% 9 50% 10 50% (expressed as a percentage of ad valorem tax otherwise payable in respect of the Project) The amount of the payment in lieu of taxes will be determined in the same manner and according to the same statutory procedure as general ad valorem taxes, real and personal, as the case may be, are determined, using the valuations determined by the Sedgwick County Appraiser's office. The payments shall be distributed to all applicable taxing subdivisions in Sedgwick County as provided in K.S.A. 12-1742.
Amount of Payments; Place of Payment. As permitted by K.S.A. 79- 201a, in lieu of all general ad valorem real and personal property taxes on the Tax Abated Project Portion for the Abatement Period commencing with the first calendar year after the calendar year in which the applicable series of Bonds are issued, Company shall pay by separate check to the Treasurer of Xxxxxxx County, Kansas, or other appropriate officer as required by the laws of the State of Kansas, a payment in lieu of taxes for such Tax Abated Project Portion in an amount which is equal to forty-five percent (45%) of the amount of general ad valorem real and personal property taxes for such Tax Abatement Project Portion which would have been due and payable by Company if the Tax Abated Project Portion were taxable as determined in accordance with Paragraph 5 below, to be distributed as and/or as a part of the general ad valorem tax collections for all taxing subdivisions in which the Project is located. The payment in lieu of taxes may be increased in accordance with the provisions herein if Company fails to meet its performance requirements. Further, if the Project does not meet the additional conditions set forth in Section 8 below, the tax abatement shall be terminated by the City upon ten (10) days written notice to Company. Such payment in lieu of taxes shall be billed to Company by statement of the City Clerk or by Xxxxxxx County on behalf of the City issued on or about November 20th of each year and shall be paid each year of the ten (10) year abatement period as follows: one-half (1/2) on or before December 20th in respect of the payment in lieu of taxes for the then current calendar year, and the remainder for such calendar year on or before May 10th of the following calendar year, or as otherwise required by law or invoice of Xxxxxxx County.
Amount of Payments; Place of Payment. As permitted by K.S.A. 79- 201a, in lieu of all general ad valorem real and personal property taxes on the Tax Abated Project Portion for the Abatement Period commencing with the first calendar year after the calendar year in which the applicable series of Bonds are issued, Company shall pay by separate check to the Treasurer of Xxxxxxx County, Kansas, or other appropriate officer as required by the laws of the State of Kansas, a payment in lieu of taxes for such Tax Abated Project Portion as follows:
Amount of Payments; Place of Payment. As permitted by K.S.A. 79-201a, in lieu of all general ad valorem real and personal property taxes on the Tax Abated Project Portion for the ten (10) calendar years commencing with the first calendar year after the calendar year in which the applicable series of Bonds are issued, Company shall pay by separate check to the Treasurer of Xxxxxxx County, Kansas, or other appropriate officer as required by the laws of the State of Kansas, a payment in lieu of taxes in an amount which is equal to forty-five percent (45%) of the amount of general ad valorem real and personal property taxes for such Tax Abated Project Portion which would have been due and payable by Company if the Tax Abated Project Portion were taxable as determined in accordance with paragraph 5 below, to be distributed as and/or as a part of the general ad valorem tax collections for all taxing subdivisions in which the applicable Project is located. Such payment in lieu of taxes shall be billed to Company by statement of the City Clerk or by Xxxxxxx County on behalf of the City issued on or about November 20th of each year and shall be paid each year of the Abatement Period as follows: one-half (1/2) on or before December 20th in respect of the payment in lieu of taxes for the then current calendar year, and the remainder for such calendar year on or before May 20th of the following calendar year, or as otherwise required by law or invoice of Xxxxxxx County.
Amount of Payments; Place of Payment. As permitted by K.S.A. 79-201a, in lieu of all general ad valorem real and personal property taxes on each Tax Abated Project Portion owned by RJB, for the ten (10) taxable calendar years commencing with the first calendar year after the calendar year in which the applicable series of Bonds are issued, RJB shall pay, or cause to be paid, by separate check to the Treasurer of Xxxxxxx County, Kansas, or other appropriate officer as required by the laws of the State of Kansas, a payment in lieu of taxes in an amount which is equal to forty-five percent (45%) of the amount of general ad valorem real and personal property taxes for such Tax Abated Project Portion which would have been due and payable by RJB if the Tax Abated Project Portion were taxable as determined in accordance with paragraph 4 below, to be distributed as and/or as a part of the general ad valorem tax collections for all taxing subdivisions in which the Project is located. Such payment in lieu of taxes shall be billed to RJB by statement of the County or City Clerk issued by November 20th of each year and shall be paid each year of the ten
Amount of Payments; Place of Payment. As permitted by K.S.A. 79-201a, as may be amended, in lieu of all general ad valorem real property taxes on the 2012 Tax Abated Project during the Abatement Period, the Company shall pay by separate check to the Treasurer of Xxxxxxx County, Kansas, or other appropriate officer (the “County Officer”), as required by the laws of the State of Kansas and subject to the provisions of the paragraphs below, a PILOT in an amount which is equal to twenty-five percent (25%) (the “PILOT Level”) of the amount of general ad valorem real property taxes for the 2012 Tax Abated Project which would have been due and payable by the Company if the 2012 Tax Abated Project were not exempt from ad valorem real property taxation as determined in accordance with paragraph 3 below, to be distributed as and/or as a part of the general ad valorem tax collections for all taxing subdivisions in which the Project is located. The PILOT amount shall be billed to the Company by statement of the Director of the Department of Records and Tax Administration of Xxxxxxx County, Kansas (the “Director”), or other appropriate officer, issued by approximately November 20th of each year and shall be paid each year of the Abatement Period as follows: (i) one hundred percent (100%) on or before December 20th for the then current calendar year; or (ii) one-half (1/2) on or before December 20th, and the remainder for such calendar year, without interest, on or before May 10th of the following calendar year; or
Amount of Payments; Place of Payment. As permitted by K.S.A. 79-201a, and subject to the provision of this Agreement in lieu of all general ad valorem real property taxes on the Tax Abated Project Portion for the five (5) calendar years commencing with the first calendar year after the calendar year in which the Bonds are issued to finance the Tax Abated Project Portion, Company shall pay a PILOT by separate check to the Treasurer of Xxxxxxx County, Kansas, or other appropriate officer as required by State law, to be distributed as and/or as a part of the general ad valorem tax collections for all taxing subdivisions in which the Project is located. The PILOT shall be billed to Company by statement of the City Clerk or by Xxxxxxx County on behalf of the City issued on or about November 20th of each year and shall be paid each year of the Abatement Term as follows: one-half (1/2) on or before December 20th in respect of the PILOT for the then current calendar year, and the remainder of such PILOT for such calendar year on or before May 10th of the following calendar year, or as otherwise required by law or invoice of Xxxxxxx County. Because this Project is making a minimum $4.5M capital investment and retaining an existing business in Lenexa, the Company is eligible to receive a 55% tax abatement. The PILOTs payable under this Agreement are fixed and were calculated based upon a minimum appraised value of $4.2 million at substantial completion. The PILOT increases 2% each year of the Abatement Term. The PILOT for each year of the Abatement Term shall be as follows: PILOT: Year 1 (base) $58,755 Year 2 $59,930 Year 3 $61,129 Year 4 $62,353 Year 5 $63,599 Totals $305,766 The PILOTs payable under this Agreement shall not be adjusted based on any changes in assessed valuation, in State law or any mill levies.
