Examples of Negotiated FILOT Act in a sentence
If any such default relates to its obligations to make Negotiated FILOT Payments hereunder, such entity shall pay the same with interest thereon at the rate per annum provided by the Code for late payment of ad valorem taxes together with any penalties provided by the Code for late payment of ad valorem taxes, all as provided in Section 12-44-90 of the Negotiated FILOT Act.
The Company shall provide the County and the Department of Revenue with written notice of any Sponsor or Sponsor Affiliate designated pursuant to this Section 6.02 within ninety (90) days after the end of the calendar year during which any such Sponsor or Sponsor Affiliate has placed in service Negotiated FILOT Property to be used in connection with the Project, all in accordance with Section 12-44-130(B) of the Negotiated FILOT Act.
Subject to the limitations set forth in Section 12-44- 40(K)(2) of the Negotiated FILOT Act, this Agreement may be amended, or the rights and interest of the parties hereunder surrendered, only by a writing signed by both parties.
All other Sponsors or Sponsor Affiliates who otherwise meet the requirements of Section 12-44-30 (19) or (20) and Section 00-00-000 of the Negotiated FILOT Act must be approved by Resolution of the County Council.
The parties hereto acknowledge the County’s right to receive Negotiated FILOT Payments hereunder and that the County is entitled to and shall have a statutory lien with respect to the Project pursuant to Section 12-44-90(E) of the Negotiated FILOT Act and Title 12, Chapter 54 of the Code relating to the collection and enforcement of ad valorem property taxes.
Further, the Finder shall not pre-sell an investment in the Fund in order to gauge an Investor’s interest in investing in the Fund by describing the Fund or the benefits from investing in the Fund.
All other Sponsors or Sponsor Affiliates who otherwise meet the requirements of Section 12-44-30 (19) or (20) and Section 00-00-000 of the Negotiated FILOT Act must be approved by Resolution of the Council.
Each of the Company and any Sponsor Affiliate(s) acknowledges that such a transfer of an interest under this Agreement or in the Project may cause all or part of the Project to become ineligible for the FILOT benefit afforded hereunder or result in penalties under the Negotiated FILOT Act absent compliance by the Company and any Sponsor Affiliate(s) with the Transfer Provisions.
From time to time, and at the expense of the Company and any Sponsor Affiliate(s), the County agrees to execute and deliver to the Company and any such Sponsor Affiliate(s) such additional instruments as the Company or such Sponsor Affiliate(s) may reasonably request and as are authorized by law and reasonably within the purposes and scope of the Negotiated FILOT Act and this Agreement to effectuate the purposes of this Agreement.
These purchases produce direct and indirect effects on business revenues, jobs and personal income.