Industrial Revenue Bonds. The Xxxxxx Coffee Company has indebtedness under the following lease agreement in connection with certain Industrial Revenue Bonds listed below.
a. A Lease Agreement, dated as of June 1, 2003, between St. Tammany Parish Economic and Industrial Development District and The Xxxxxx Coffee Company in connection with $25,000,0000 St. Tammany Parish Economic and Industrial Development District Taxable Revenue Bonds (The Xxxxxx Coffee Company Project) Series 2003.
Industrial Revenue Bonds. The Company and its Subsidiaries are not indebted under any industrial revenue bonds.
Industrial Revenue Bonds. All documents evidencing, securing or otherwise relating to the Industrial Revenue Bonds.
Industrial Revenue Bonds. (a) The City declares an intent to issue, pursuant to K.S.A. 12-1740 et seq. (the “IRB Act”), industrial revenue bonds, in one or more series, in an aggregate principal amount not to exceed $14,000,000 (the “IRB”) to finance the Project, subject to satisfaction of the conditions set forth in this Section 4.01.
(b) Pursuant to the provisions of K.S.A. 79-3601 et seq. (the “Sales Tax Act”), particularly 79-3606(b) and (d) and other applicable laws, sales of tangible personal property or services purchased in connection with construction of the Project and financed with proceeds of the IRB’s are entitled to exemption from the tax imposed by the Sales Tax Act; provided proper application is made therefore. The City will apply to the State Department of Revenue for a sales tax exemption certificate upon the Developer’s written acceptance of a letter of intent containing the City’s conditions to the issuance of the Bonds in accordance with the City’s Economic Development Incentive Policy, substantially in the form attached hereto as Exhibit G (the “Letter of Intent”).In the event that the IRB is not issued for any reason including failure of the Developer to comply with the requirements of paragraph (d) below, Developer will not be entitled to a sales tax exemption under the terms of the Sales Tax Act and will remit to the State Department of Revenue all sales taxes that were not paid due to reliance on the sales tax exemption certificate granted under this Agreement.
(c) No exemption of ad valorem property taxation with respect to property financed by the IRB’s shall be requested by the Developer or granted by the City.
(d) The Developer may request issuance of the IRB upon acceptance by the City of the Certificate of Full Completion for the Project. The issuance of the IRB is subject to the satisfaction of the following:
(i) the Developer’s full compliance with the terms of this Agreement;
(ii) the Developer’s written acceptance of the Letter of Intent;
(iii) the successful negotiation and sale of the Bonds to a purchaser, which shall be the Developer or a financial institution determined by the Developer and acceptable to the City (the "Purchaser"), which sale shall be the responsibility of the Developer and not the City;
(iv) the receipt of the approving legal opinion of Xxxxxxx & Xxxx, P.C. (“Bond Counsel”) in form acceptable to the City, the Developer and the Purchaser;
(v) the obtaining of all necessary governmental approvals to the issuance of the Bonds;...
Industrial Revenue Bonds. The City would agree to issue industrial revenue bonds, in one or more series (the “IRB’s) to finance eligible capital expenditures for the KHSC, SHF, Hotel and Culinary Center portions of the Project. It is anticipated that the Developer would arrange its own conventional financing to construct and equip the Projects. The IRB’s would be issued after completion of the Projects if the performance requirements of the DA are satisfied. It is further anticipated that the IRB’s would be purchased by the Developer or a related entity. The IRB’s for the KHSC, SHF, Hotel and Culinary Center would provide exemption for expenditures subject to sales taxes. In addition, the IRB’s for the KHSC and SHF would provide for an ad valorem property tax exemptions in amounts and for periods prescribed by City policy. Note, ad valorem property tax exemption is subject to the City modifying boundaries of existing project areas within the Center City South Tax Increment District (the “TIF District”) and standard City IRB Policy and covenants; including termination of property tax abatements and “claw back” provisions if Developer does not comply with capital expenditure and employment covenants.
Industrial Revenue Bonds. (A) US Borrower shall, on or prior to March 24, 2005, cause the redemption of all of the Nebraska IRBs, and (B) US Borrower shall promptly after such redemption (but in no event later than April 3, 2005) repay all amounts owing in connection therewith and cause all agreements pertaining thereto (including without limitation the IRB Indenture, the IRB Lease Agreement, and that certain Irrevocable Letter of Credit Number SB/IRB 169 dated as of October 30, 1997 issued by M&I Mxxxxxxx & Ixxxxx Bank in favor of Norwest Bank Wisconsin, National Association as Trustee) to be terminated and exercise US Borrower’s purchase option set forth in Section 10.1 of the IRB Lease Agreement.
Industrial Revenue Bonds. Developer has requested industrial revenue bond ("IRB") financing in order to pay certain project costs pursuant to K.S.A. 12-1741 et seq. Subject to all Applicable Laws and Requirements and subject further to compliance by Developer with all of the UG's requirements for the issuance of IRBs, the parties hereby agree that Developer may use IRB financing to obtain an exemption on sales taxes for construction materials for the Project. However, the parties hereby understand and agree that IRB financing shall not be used for abatement of ad valorem property taxes for the Project or the Project Site, subject to the terms set forth in Section 4.1(b) below.
Industrial Revenue Bonds. The Company, as tenant, shall have delivered to the City of Lawrence, Kansas (the "City"), all of the documentation necessary to redeem and pay the outstanding City of Lawrence, Kansas, Taxable Industrial Revenue Bonds, Series 1992 maturing on and after April 1, 1997 and the outstanding City of Lawrence, Kansas, Taxable Industrial Revenue Bonds, Series A, 1993 maturing on and after October 1, 1997, and the City shall have approved and authorized such redemption and issued a notice thereof to the bondholders.
Industrial Revenue Bonds. The Xxxxxx Coffee Company has indebtedness under the following lease agreements in connection with certain Industrial Revenue Bonds listed below.
a. A Lease Agreement, dated as of June 1, 2003, between St. Tammany Parish Economic and Industrial Development District and The Xxxxxx Coffee Company in connection with $25,000,0000 St. Tammany Parish Economic and Industrial Development District Taxable Revenue Bonds (The Xxxxxx Coffee Company Project) Series 2003.
b. A Lease Agreement, dated as of December 1, 2003, between the Planned Industrial Expansion Authority City, Missouri and The Xxxxxx Coffee Company in connection with $32,000,000 The Planned Industrial Expansion Authority of Kansas City, Missouri Taxable Industrial Revenue Bond (The Xxxxxx Coffee Company Project) Series 2003.
c. A Supplemental Lease Agreement, dated as of September 1, 2006, between The Planned Industrial Expansion Authority of Kansas City, Missouri and The Xxxxxx Coffee Company in connection with $30,000,000 The Planned Industrial Expansion Authority of Kansas City, Missouri Taxable Industrial Revenue Bond (The Xxxxxx Coffee Company Project) Series 2006.
Industrial Revenue Bonds. The term "Industrial Revenue Bonds" means the financings described in Schedule 1.34.
