REOPENER PROVISION. The City may reopen this contract if the following occurs: 1. The City loses the ability to collect, levy or transfer to the general fund various fees and the loss of these revenue sources exceeds $1m; or 2. The Roseville voters by local ballot initiative approve the elimination or reduction of a revenue currently being levied or collected in the amount listed above. The City and RPA shall mutually agree to the manner in which reductions in expenditures are obtained to balance the City’s General Fund. Any negotiation and implementation period shall not exceed sixty (60) days. The City will meet and confer over any impacts proposed due to a revenue loss. The City will also work closely with RPA to mitigate the impacts of these revenue losses. In the event the City’s other revenues increase or exceed the amount of any lost revenue, levy or transfer to the General Fund, the City shall not reopen the MOU.
Appears in 4 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
