CID Sales Tax Sample Clauses

CID Sales Tax. The City shall deliver a certified copy of the CID Ordinance to the Kansas Department of Revenue imposing the CID Sales Tax upon the receipt of written notice from the Developer requesting such delivery. Except as otherwise set forth herein, all of the CID Sales Tax collected and delivered to the CID Sales Tax Fund shall be available for and dedicated to pay the CID Costs for the duration of the Term.

CID Sales Tax. If the CID Ordinance is passed by the Governing Body, the City will deliver a certified copy of the CID Ordinance to the Kansas Department of Revenue (“KDOR”) upon the earlier of: (i) ten (10) business days after the City receives a request from the Developer to deliver the CID Ordinance to KDOR or (ii) April 1, 2022. Collection of the CID Sales Tax will commence as soon as allowed under KDOR policies following KDOR’s receipt of the CID Ordinance and will continue throughout the CID Term. Except as otherwise set forth herein, all CID Sales Tax Revenues collected and delivered to the CID Sales Tax Fund will be available for and dedicated to pay the CID Eligible Costs for the duration of the CID Term.

CID Sales Tax. The City has delivered a copy of the CID Ordinance to the Kansas Department of Revenue (“DOR”) imposing the CID Sales Tax effective October 1, 2012. The Developer agrees to provide to the DOR a list of tenants within the District no later than April 1, 2012, so that the DOR can notify tenants within the District of the requirement of the tenant to impose a CID Sales Tax beginning on October 1, 2012. At the time the list of tenants is provided to the DOR, the Developer shall also provide a copy to the City. Except as otherwise set forth herein, all CID Sales Tax shall be available for and dedicated to pay Eligible Expenses until sufficient CID Sales Tax has been received to pay for the cost of Eligible Expenses or not later than the date the CID Bonds issued to finance the Project or refunding bonds issued therefor shall mature and shall be utilized according to the procedures set forth herein in the following order of priorities: 1. First, to pay the principal and interest on any CID Bonds issued to finance the CID Improvements; 2. Second, to pay or reimburse the City for all City Expenses including the City CID Annual Administrative Fee; and 3. Third, to the extent permitted by the CID Act, to reimburse the Developer for remaining Eligible Expenses. Notwithstanding the foregoing, the Parties acknowledge that the effective date of the CID Sales Tax may be delayed to a later date or expedited to an earlier date if either such action is requested in writing at least one hundred eighty (180) days prior to October 1, 2012 or the effective date of the CID Sales Tax, if the effective date of the CID Sales Tax has been extended, by all owners of record within the District and approved by the Governing Body of the City.

CID Sales Tax. The City will furnish to the Kansas Department of Revenue (“KDOR”) all documentation required to impose the CID Sales Tax upon the earlier of: (a) 10 business days after the City receives a request from the Developer; or (b) March 31, 2026. Collection of the CID Sales Tax will commence on the first day of the calendar quarter starting at least 90 days following KDOR’s receipt of the required documentation, or such other time as may be required under State law, and will continue throughout the CID Term.

CID Sales Tax. The CID shall not implement the procedures in the CID Act for repeal of the CID Sales Tax and abolishment of the CID prior to all Obligations having been paid. In addition, the CID shall not implement the procedures for repeal or modification of the CID Sales Tax and abolishment of the CID if the CID, with the prior written consent of the City, which shall not be unreasonably withheld, has approved another project pursuant to the CID Act. Upon repeal of the CID Sales Tax, the CID shall (i) Pay all outstanding CID Administrative Costs; and (ii) Retain any remaining CID Sales Tax Revenues until such time as the CID is abolished and the CID has provided for the transfer of any funds remaining in a manner permitted by the CID Act. The CID shall have the right to continue in existence and charge the CID Sales Tax in accordance with the CID Act for so long as the CID is able to use CID Sales Tax revenues to pay for projects and services in accordance with the CID Act.

CID Sales Tax. The Agreement will provide for a community improvement district (a “CID”) on the Project Site (and not including the rest of the Riverfront TIF District) with a 1% add-on CID sales tax tangible sales or services which are taxable within the CID. If (and only if) the Developer designs and builds the retail components of the Project described in Section 3(b) above, the revenues from this CID Sales Tax will be available to Developer to be used for pay-as- you-go financing (no bonds) for site improvement and hard construction costs within the CID. The CID would be limited in the following ways: (i) the maximum amount of CID reimbursements to Developer would be capped at $285,000 (the "CID Cap"); (ii) the CID collection period ends on the earlier of the date that Developer has been reimbursed for all CID eligible expenses in an amount equal to the CID Cap or date which is twenty-two (22) years from the date that the CID Sales Tax is first imposed; and (iii) reimbursement would be paid on a 50/50 basis between private funds and the available incentive proceeds to ensure that at all times, the UG will not have paid more CID proceeds to Developer than the amount of project costs paid by private funds.

CID Sales Tax. Subject to the terms and conditions of this Agreement and the CID Ordinance, the UG hereby agrees that the CID Eligible Expenses may be financed and reimbursed with Pay-As-You-Go CID Financing (defined below in Section 4.4(c)) from the imposition of the CID Sales Tax in the amount of one percent (1%) on the sale of tangible personal property at retail or rendering or furnishing of services which are taxable pursuant to the Kansas Retailers' Sales Tax Act (K.S.A. 79-3601 et seq.) from only those revenues received from within the CID. Developer agrees to provide to the Kansas Department of Revenue (the “DOR”) a list of tenants within the CID within the timeframes required by the DOR, so that the DOR can notify tenants within the CID of their requirement to collect the CID Sales Tax. At the time the list of tenants is provided to the DOR, Developer shall also provide a copy to the UG.

CID Sales Tax. Subject to the conditions set forth in Section 5.05 below, the City hereby agrees that the CID Improvements may be financed by and reimbursed to Developer with Pay-As-You-Go CID Financing, and payable from revenues received from the imposition of a CID Sales Tax within the CID in an amount equal to one-half percent (0.50%) on the sale of tangible personal property at retail or rendering or furnishing services which are taxable pursuant to the Kansas Retailers' Sales Tax Act (K.S.A. 79-3601 et seq.) within the boundaries of the CID. However, the parties further agree that commencing with the date that the TDD Sales Tax shall terminate, the CID Sales Tax within the CID shall be increased to an amount equal to one and one-half percent (1.50%) on the sale of tangible personal property at retail or rendering or furnishing services which are taxable pursuant to the Kansas Retailers' Sales Tax Act. The Developer agrees to provide to the DOR a list of tenants within the CID within the timeframes required by the DOR, so that the DOR can notify tenants within the CID of their requirement to collect a CID Sales Tax beginning on that certain date which is set forth in the ordinance approving the CID. At the time the list of tenants is provided to the DOR, the Developer shall also provide a copy to the City.

CID Sales Tax. In accordance with the CID Act, the CID has imposed the CID Sales Tax on all retail sales in the CID area.