Common use of ANNUAL CALCULATION OF STIPULATED SUPPLEMENTAL PAYMENT AMOUNT Clause in Contracts

ANNUAL CALCULATION OF STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. The Parties agree that for each Tax Year described in Section 6.3, the Applicant’s Stipulated Supplemental Payment Amount will be calculated in accordance with the following formula: The Taxable Value of the Applicant’s Qualified Property for such Tax Year had this Agreement not been entered into by the Parties (i.e., the Taxable Value of the Applicant’s Qualified Property used for District’s interest and sinking fund tax purposes for such Tax Year); Minus, The Taxable Value of the Applicant’s Qualified Property for such Tax Year after giving effect to this Agreement (i.e., the Taxable Value of the Applicant’s Qualified Property used for District’s maintenance and operations tax purposes for such Tax Year); Multiplied by, The District’s maintenance and operations tax rate for such Tax Year; Minus, Any amounts previously paid to District under Article IV or Article V; Multiplied by, The number 0.40; Minus, Any amounts previously paid to District under Sections 6.3 and 6.4 with respect to such Tax Year. In the event that there are changes in the data upon which the calculations set forth herein are made, the Consultant described in Section 4.4, above, shall adjust the Applicant’s Stipulated Supplemental Payment Amount calculation to reflect such changes in the data.

ANNUAL CALCULATION OF STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. The Parties agree that for each Tax Year described in Section 6.3, the Applicant’s Stipulated Supplemental Payment Amount will be calculated in accordance with the following formula: The Taxable Value of the Applicant’s Qualified Property for such Tax Year had this Agreement not been entered into by the Parties (i.e., the Taxable Value of the Applicant’s Qualified Property used for District’s interest and sinking fund tax purposes for such Tax Year), consistent with the calculations made under Section 1.2 for “Original M&O Revenue”; Minus, The Taxable Value of the Applicant’s Qualified Property for such Tax Year after giving effect to this Agreement (i.e., the Taxable Value of the Applicant’s Qualified Property used for District’s maintenance and operations tax purposes for such Tax Year), consistent with the calculations made under Section 1.2 for “New M&O Revenue”; Multiplied by, The District’s maintenance and operations tax rate for such Tax Year; Minus, Any amounts previously paid to District under Article IV or Article VV for such Tax Year or residual amounts owed from a prior Tax Year or Tax Years; Multiplied by, The number 0.40; Minus, Any amounts previously paid to District under Sections 6.3 and 6.4 with respect to such Tax Year. If, for any year of this Agreement, the difference between the Original M&O Revenue and the New M&O Revenue as calculated under this Section 6.4 results in a negative number, the negative number will be considered to be zero for the purposes of this calculation. In the event that there are changes in the data upon which the calculations set forth herein are made, the Consultant described in Section 4.4, above, shall adjust the Applicant’s Stipulated Supplemental Payment Amount calculation to reflect such changes in the data.

ANNUAL CALCULATION OF STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. The Parties agree that for each Tax Year described in Section 6.36.2, the Applicant’s Stipulated Supplemental Payment Amount will be calculated in accordance with the following formula: The Taxable Value of the Applicant’s Qualified Property for such Tax Year had this Agreement not been entered into by the Parties (i.e., the Taxable Value of the Applicant’s Qualified Property used for the District’s interest and sinking fund tax purposes for such Tax Year); Minus, The Taxable Value of the Applicant’s Qualified Property for such Tax Year after giving effect to this Agreement (i.e., the Taxable Value of the Applicant’s Qualified Property used for the District’s maintenance and operations tax purposes for such Tax Year); Multiplied by, The District’s maintenance and operations tax rate for such Tax Year; Minus, Any amounts previously paid to the District under Article IV or Article Vfor such Tax Year; Multiplied by, The number 0.400.4; Minus, Any amounts previously paid to the District under Sections 6.2 and 6.3 and 6.4 with respect to such Tax Year. In the event that there are changes in the data upon which the calculations set forth herein are made, the Consultant Third Party described in Section 4.4, above, shall adjust the Applicant’s Stipulated Supplemental Payment Amount calculation to reflect such changes in the data.