COMPANY’S OBLIGATIONS A. Annual Payment. Commencing with the calendar year 2022, and each calendar year thereafter for the duration of this Agreement, the Company will pay the City a certain sum which will be computed on the assessed value of the Company’s facilities and property, real, personal, and mixed located on Company’s land covered by this Agreement. Company shall pay to City an amount which totals "in lieu of" taxes on Company's Property as of January 1st of the prior calendar year ("value year"). Said payments made "in lieu of' taxes under this Agreement shall be made in two (2) equal installments, the first being due on or before January 15, 2022, and the second being due on or before July 15, 2022, with the remaining payments due on or before January 15th and July 15th of each year thereafter, through and including the year 2026.
Appears in 4 contracts
Samples: Industrial District Agreement, Industrial District Agreement, Industrial District Agreement
