Resolution 2011-31 - Laserfiche WebLink

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by way of example, food, office supplies or other consumable goods not expected to last for three or more years, shall not be eligible for the rebate described herein. The City, in its sole discretion,shall determine what goods are eligible for the Sales/Use tax rebate. 4. Payment of Rebates Cap. a. The maximum amount of the rebates payable pursuant to paragraphs 1 and 2 above shall in no event exceed the calculation of 50% of the fees and Construction Use Tax paid to the City. The building permit fee and Construction Use Tax rebates shall be paid by the City within 120 days following issuance of the Certificate of Occupancy for the project, subject to paragraphs 5 and 6 below. b. The Sales/Use tax rebates provided for in paragraph 3 shall be paid by the City in annual installments. At the end of each calendar year, on or before January 20, LineRate Systems, Inc. shall remit to the City its total annual Sales/Use Tax payment on the appropriate Sales/Use tax return form. LineRate Systems, Inc. shall also produce a listing of all tangible goods for which the Sales/Use tax rebate as described in paragraph 3 above is requested,together with copies of the supporting invoices or receipts. Within 30 days of receipt of the required documentation, the City shall determine the rebate payment to be made for eligible goods and will remit payment to LineRate Systems, Inc. at 285 Century Place. The Sales/Use tax rebate is capped at and shall never exceed $15,000,and the eligibility for rebate shall cease on a date that is five years from the date of issuance of the Certificate of Occupancy for 285 Century Place, whether or not the cap has been met. c. No interest shall be paid on any amounts subject to rebate. 5. Use of Funds. Funds rebated pursuant to this Agreement'shall be used by LineRate Systems, Inc. solely for obligations and/or improvements permitted under Louisville Municipal Code section 3.24.060 (as enacted by Ordinance No. 1507, Series 2007), which may include tenant improvements for occupancy of vacant space or the expansion or creation of jobs within the City. The eligible obligations and/or improvements to 285 Century Place shall be fully satisfied and/or completed prior to payment to LineRate Systems, Inc. of any rebate pursuant to this Agreement. 6. Future Fees. The rebates provided for under this Agreement are solely for the initial construction on the project. Any subsequent construction activities shall be subject to payment without rebate of all applicable building permit fees and construction use taxes. 7. Entire Agreement. This instrument shall constitute the entire agreement between the City and LineRate Systems, Inc. and supersedes any prior agreements between the parties and their agents or representatives, all of which are merged into and revoked by this Agreement with respect to its subject matter. 8. Termination. This Agreement shall terminate and become void and of no force or effect upon the City if LineRate Systems, Inc. has not completed the project and moved into its new facility at 285 Century Place by December 31, 2011; or should LineRate Systems,Inc. fail to comply with any City code. 2