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Resolution 2021-07
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Resolution 2021-07
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Last modified
5/7/2024 3:12:27 PM
Creation date
2/25/2021 6:49:02 AM
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Template:
City Council Records
Also Known As (aka)
Cooperation Agreement with Revitalization Commission for South St Gateway Public Art
Meeting Date
2/2/2021
Doc Type
Resolution
Ord/Res - Year
2021
Ord/Res - Number
7
Original Hardcopy Storage
9C5
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cost of the Project, subject to the limitations set forth in Section 2.c., below, within thirty (30) days <br />of receipt of the certified statement. <br />agree: <br />Notwithstanding any provisions of this Agreement to the contrary, the Parties <br />(i) The total of all payments to be made in accordance with this Section is <br />limited to (1) $11,500, or (2) whatever lesser amount of Property Tax TIF <br />revenue is generated from the Plan Area prior to the time that the Urban <br />Renewal Plan, including the Property Tax TIF provision thereof, is <br />terminated or expires, whichever first occurs, less LRC Operating <br />Expenses, and any amounts required to be paid pursuant to the 2015 <br />Cooperation Agreement, Tri-Party Agreement, and Fire District <br />Agreement. <br />(ii) That the LRC may make payment with any source of funds available to the <br />LRC. <br />(iii) That the LRC may use for any lawful purpose amounts not required for <br />payments under this Agreement. <br />d. Upon request of the LRC, the City agrees to give reasonable consideration to <br />subordinating its rights under this Agreement to the Payment of Pledged Revenue to any bonds, <br />loans, advances, indebtedness, or other obligation of the LRC. <br />e. The Parties shall each keep, or cause to be kept, proper and current books and <br />accounts in which complete and accurate entries shall be made of the amounts deposited into and <br />paid out from the Special Fund and other funds for the Project. <br />3. Continuing Cooperation; Additional Agreements. The Parties shall cooperate to <br />carry out and complete the Project approved by the City Council. It is contemplated that additional <br />agreements may be required to plan and carry out the Project in accordance with the provisions of <br />the Plan and the Act. The Parties agree to cooperate and give timely consideration to any additional <br />agreements or amendments to this Cooperation Agreement that may be necessary or convenient in <br />connection with such activities and undertakings; provided, however, nothing in this Cooperation <br />Agreement shall preclude or require the commitment of additional revenue, financing, or services <br />by either Party beyond those provided for herein in connection with such activities and <br />undertakings. <br />4. Obligations Subject to Act, Charter, and Constitution. The covenants, duties and <br />actions required of the Parties under this Cooperation Agreement shall be subject to and performed <br />in accordance with the provisions and procedures required and permitted by the Charter, the Act, <br />any other applicable provision of law, and the Colorado Constitution. Without limiting the <br />foregoing, all financial obligations of the City are subject to annual budgeting and appropriation <br />67 <br />
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