Resolution 2009-31 - Laserfiche WebLink

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3. Use of Funds. Funds rebated pursuant to this Agreement shall be used by Boulder Creek Hestaurant Group solely for obligations and/or improvements permitted under Louisville Municipal Code section 3.24.060 (as enacted by Ordinance No. 1507, Series 2007). 4. Entire Aqreement. This instrument shall constitute the entire agreement between the City and Boulder Creek Restaurant Group 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: Lenny Martinelli Boulder Creek Restaurant Group 605 Grant Avenue Louisville, CO 80027 720-334-4720 len nY@boulderteahouse.com 5. Termination. This Agreement shall terminate and become void and of no force or effect upon the City if, by June 1, 2010, Boulder Creek Restaurant Group has not completed tl1e project (as evidenced by the issuance of a certificate of occupancy for the full service Italian restaurant); or should fail to comply with any City code. 6. Business Termination. In the event that, within five (5) years of the commencement of the rebate term, the full service Italian restaurant ceases operations at 808 Main Street, Louisville, Boulder Creek Restaurant Group shall pay to the City the total amount of sales tax which were due and payable to the City but were rebated by the City to Boulder Creek Restaurant Group, as well as reimburse the City for any funds provided to Boulder Creek Restaurant Group pursuant to this Agreement. 7. Subordination. The City's obligations pursuant to this Agreement are subordinate to the City's obligations for the repayment of any current or future bonded indebtedness and are contingent upon the existence of a surplus in sales and use tax revenues in excess of the sales and use tax revenues necessary to meet such existing or future! bond indebtedness. The City shall meet its obligations under this Agreement only after the City has satisfied all other obligations with respect to the use of sales tax revenues for bond repayment purposes. For the purposes of this Agreement, the terms "bonded indebtedness," "bonds," and similar terms describing the possible forms of indebtedness include all forms of indebtedness that may be incurred by the City, including, but not limited to, general obligation bonds, revenue bonds, revenue anticipation notes, tax increment notes, tax increment bonds, and all other forms of contractual indebtedness of whatsoever nature that is in any way secured or collateralized by sales and use tax revenues of the City.