Chapter 380 Payment. A. For a period of five years beginning on the Sales Tax Effective Date, City shall pay Owner a Chapter 380 payment equal to 80% of the One Cent Sales Tax Revenues. The payment shall be based on the amount of sales tax collected by the City for the 12 month period ending the preceding April 30. For a period of 15 years following the initial five year period, City shall pay Owner a Chapter 380 payment equal to 50% of the One Cent Sales Tax Revenues. The payment shall be based on the amount of sales tax collected by the City for the 12 month period ending the preceding April 30 (§5.b.i.).
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Samples: Chapter 380 Economic Development Agreement, Chapter 380 Economic Development Agreement, Chapter 380 Economic Development Agreement
Chapter 380 Payment. A. For a period of five years beginning on the Sales Tax Effective Date, City shall pay Owner a Chapter 380 payment equal to 80% of the One Cent Sales Tax Revenues. The payment shall be based on the amount of sales tax collected by the City for the 12 12- month period ending the preceding April 30. For a period of 15 years following the initial five five-year period, City shall pay Owner a Chapter 380 payment equal to 50% of the One Cent Sales Tax Revenues. The payment shall be based on the amount of sales tax collected by the City for the 12 month period ending the preceding April 30 (§5.b.i.).
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