Incidental Income. The City acknowledges that the Owner may constmct, at the cost of the Owner, a water tower (the "Water Tower") to be dedicated to the City. In the event that the City should ever realize any incidental income from the Water Tower or any portion thereof unrelated to the primary function and services originally intended to be provided by Water Tower or applicable portion thereof (such as, by way of example and not limitation, any income received by the City for lease or license of a portion of the Water Tower for cellular and/or satellite relay, transmission facilities, or signage) other than statutory or regulatory permit fees or other similar fees collected by the City in the performance of a governmental function as opposed to a proprietary function, the City shall allocate and pay to the Owner fifty percent (50 ) of such incidental income collected within in sixty (60) days following receipt thereof by the City. The Public Infrastructure funded by tax-exempt PID Bonds shall not be utilized to produce incidental income to private users unless the City first obtains, at its cost, an opinion of Bond Counsel stating that such use of the Public Infrastmcture will not jeopardize the tax exempt status of the relevant PID Bonds.
Incidental Income. In the event that the Municipality should ever realize any incidental income from the Infrastructure or any portion thereof which are unrelated to the primary function and services originally intended to be provided by such facilities or applicable portion thereof (such as, by way of example and not limitation, any income received by the Municipality for a lease or license of a portion of a water tower for cellular and/or satellite relay or transmission facilities or for signage) other than regulatory permit fees or other similar fees collected by the Municipality in the performance of a governmental function as opposed to a proprietary function, the Municipality shall allocate and pay to the District eighty percent (80%) of any such incidental income collected within sixty (60) days following receipt thereof by the Municipality. The portion of incidental income paid to the District by the Municipality shall be applied as follows: first, to meet the District’s administrative needs; second, to meet the District’s Infrastructure maintenance responsibilities; and third, to reimburse the amounts due to the Owner for funds advanced to or on behalf of the District in connection with the Infrastructure, either by direct payment to Owner or by deposit into the District’s bond debt service fund to amortize bonds issued or to be issued for such reimbursement, as may be determined in the sole discretion of the District.
