Resolution 2020-13 - Laserfiche WebLink

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tax rebates pursuant to Section 1 shall terminate when the Company has received from the City the last rebate payment under this Agreement for the five-year rebate period or when the Company has received $140,000 in rebate payments, whichever first occurs. 3. No Interest; Inspection and Disclosure of Records. No interest shall be paid on any amounts subject to rebate under this Agreement. Each party and its agents shall have the right to inspect and audit the applicable records of the other party to verify the amount of any payment under this Agreement, and each party shall cooperate and take such actions as may be necessary to allow such inspections and audits. The Company acknowledges that implementation of this Agreement requires calculations based on the amount of taxes collected and paid by the Company with respect to the term of this Agreement and issuance of rebate payment checks in amounts determined pursuant to this Agreement, and that the amounts of the rebate payment checks will be public information. The Company, for itself, its successors, assigns, and affiliated entities, hereby releases and agrees to hold harmless the City and its officers and employees from any and all liability, claims, demands, and expenses in any manner connected with any dissemination of information necessary for or generated in connection with the implementation of rebate provisions of this Agreement. 4. Use of Funds. Funds rebated pursuant to this Agreement shall be used by O the company solely for obligations, improvements, and/or purposes permitted under Louisville Municipal Code section 3.24.060 and this Agreement. 5. Effect of Change in Tax Rate. Any increase or decrease in the City general sales tax rate above or below the applicable tax rate at the date of execution of this Agreement shall not affect the rebate payments to be made pursuant to this Agreement; rather, the amount of the rebate payments will continue to be based upon the general sales tax rate applicable at the date of execution of this Agreement (excluding the City's 0.375% Open Space Tax, 0.125% Historic Preservation Tax, and the 0.150% Recreation Center Tax, or any future special sales or use tax). Any decrease in the City general sales tax rates shall cause the amount of the rebate payments made pursuant to this Agreement to be based on the applicable percentage of revenues actually received by the City from application of the tax rate affected (excluding said Open Space, Historic Preservation, Recreation Center, or future special sales or use taxes). 6. Entire Agreement. This instrument shall constitute the entire agreement between the City and the Company 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. Contact information is as follows: Page 2 of 5