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2014 Bond Resolution authorizing the 2014 Bonds) to the payment of the 2014 Bonds on a basis <br />that was subordinate to the payments required under the Tri-Party Agreement, the 2011 <br />Cooperation Agreernent and the 2012 Cooperation Agreement. Pursuant to the terms and <br />provisions of the 2014 Bond Resolution, all Property Tax TIP revenue from the Core Project <br />Area remaining after any required payments under the Tri-Party Agreement, the 2011 <br />Cooperation Agreement and the 2012 Cooperation Agreement have been made are required to be <br />applied to the payment of the 2014 Bonds until the 2014 Bonds are paid in full or until the Bonds <br />are discharged on December 1, 2033. <br />G. The City and the Commission previously entered into an Amended and Restated <br />Cooperation Agreement dated November 17, 2015 (the "2015 Cooperation Agreement") which <br />provides that the Commission shall repay to the City certain City Costs and Expenses incurred <br />by the City for the provision of Operating Funds and Support Services for the Commission, as <br />further defined and set forth in the 2011 Cooperation Agreement. <br />H. The Commission and 712 Main Street LLC and 722 Main Street LLC previously <br />entered into a Property Tax Increment Rebate Agreement dated June 11, 2019 (the "2019 TIF <br />Rebate Agreement"), which pledges Property Tax TIF revenues received by the Commission as a <br />result of the property tax mill levies unposed upon the valuation of the property identified in <br />such agreement for a period of time commencing with the first full fiscal year following issuance <br />of a certificate of occupancy for the project to be constructed and ending upon payment of <br />$1,100,000 or the expiration of the Property Tax TIF provision of the urban renewal plan, <br />whichever first occurs. <br />I. Section 31-25-107(11) of the Act permits and authorizes the Parties to enter into <br />this Agreernent for payment from that portion of the Property Tax TIF revenue produced by the <br />District property tax levy, or any portion of such levy, the costs of additional District <br />infrastructure or services necessary to offset the impacts of the Urban Renewal Project and for <br />the sharing of revenues. <br />J. The District may, from time -to -time, refer to the registered electors of the District <br />one or more ballot issues requesting an increase in the District's mill levy to help pay increased <br />expenses associated with the District's costs of infrastructure, services, and equipment within the <br />District's boundaries, which includes the City and its residents. <br />K. The Parties by this Agreement desire to provide for a sharing of those revenues <br />resulting from the District's 3.9 mill levy increase approved at the November 2019 election, plus <br />any general mill levy increase or bond issuance mill levy ballot issue at one or more elections in <br />the future, subject to the Commissions existing obligations under the 2014 Bonds, the 2015 <br />Cooperation Agreement, and the 2019 TIF Rebate Agreement (collectively, the "Prior <br />Obligations"). <br />2 <br />