Retention and Distribution of Parking Meter Revenues Sample Clauses

Retention and Distribution of Parking Meter Revenues. The City is presently holding or has paid into Superior Court in excess of $8.3 million of parking meter revenue (hereinafter the “Parking Meter Revenues”), including for periods following retirement of the financing debt. River Park Square, LLC claims to be owed $4,878,685 for Ground Rent and interest thereon under its Ground Lease with the Spokane Downtown Foundation (and assumed by the PDA) dated August 1, 1998, and RPS II, LLC claims to be owed $3,201,039 for operation and maintenance costs under the Parking Facility Operators Agreement with the PDA dated September 28, 1998. Those figures have not been independently reviewed. The parties agree that at the City’s election and expense, the amount of Operating Expense (as that term is defined in Ordinace C31823) owed RPS II, LLC may be reviewed by Xxxxxxxx & Xxxxxxxx or another mutually-agreed accountant, for the period from the date of last review by Xxxxxxxx & Xxxxxxxx to the date of Closing. The parties further agree that while the City has engaged Xxxxx
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Related to Retention and Distribution of Parking Meter Revenues

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