Resolution 2009-41 - Laserfiche WebLink

Home Browse Search

3. Use of Funds. Funds rebated pursuant to this Agreement shall be used by Glacier Homemade Ice Cream & Gelato solely for obligations and/or improvements permitted under Louisville Municipal Code section 3.24.060 (as enacted by Ordinance No. 1Ei07, Series 2007). 4. Entire Aareement. This instrument shall constitute the entire agreement between the City and Glacier Homemade Ice Cream & Gelato 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: John Stetson Glacier Homemade Ice Cream & Gelato 4760 Baseline Road Boulder, CO 80303 303-818-0569 johnstetson@hotmail.com 5. Termination. This Agreement shall terminate and become void and of no force or effect upon the City if, by June 1, 2010, Glacier Homemade Ice Cream & Gelato has not completed the project (as evidenced by a successful final inspections for the shop); 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 rElbate term, the shop ceases operations at 1387 South Boulder Road, Louisville., Glacier Homemade Ice Cream & Gelato 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 Glacier Homemade Ice Cream & Gelato, as well as reimburse the City for any funds provided to Glacier Homemade Ice Cream & Gelato pursuant to this A!~reE~ment. 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.