Common use of Amount of Payments; Place of Payment Clause in Contracts

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. 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 hereinother than special assessments levied on account of special benefits, 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: follows Calendar Year Payment in Lieu of Taxes 2 2024 0% 3 02025 10% 4 02026 20% 5 02027 30% 6 2028 40% 2029 50% 7 502030 60% 8 502031 70% 9 502032 80% 10 502033 90% (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. 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 hereinother than special assessments levied on account of special benefits, the Tenant shall pay by separate check to the Treasurer of Sedgwick Xxxxxx 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 2023 0% 3 02024 10% 4 02025 20% 5 02026 30% 6 2027 40% 2028 50% 7 502029 60% 8 502030 70% 9 502031 80% 10 502032 90% (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 Xxxxxx County Appraiser's office. The payments shall be distributed to all applicable taxing subdivisions in Sedgwick Xxxxxx County as provided in K.S.A. 12-1742.