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Res 2015-094/approving a Chapter 380 Economic Development Incentive Agreement with Amazon.com.kydc, LLC, providing incentives in the form of annual refunds of 85 percent of ad valorem taxes generated from personal property over fifteen years, 40 percent
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Res 2015-094/approving a Chapter 380 Economic Development Incentive Agreement with Amazon.com.kydc, LLC, providing incentives in the form of annual refunds of 85 percent of ad valorem taxes generated from personal property over fifteen years, 40 percent
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8/26/2015 4:23:52 PM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2015-94
Date
7/21/2015
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notify Amazon of such non - appropriation and Amazon may, at its sole option, terminate this <br />Agreement, effective upon written notice to City. <br />Section 7.03. No Recourse. Except for the right to terminate as provided in Section <br />7.02, Amazon shall have no recourse against the City for the City's failure to budget and <br />appropriate funds during any fiscal year to meet the purposes and satisfy its obligations under <br />this Agreement. <br />ARTICLE VIII <br />INFORMATION <br />Section 8.01. Information. Subject to this Article VIII, Amazon shall, at such times and <br />in such form as the City may reasonably request from Amazon, provide information concerning <br />the performance of Amazon's obligations under this Agreement. <br />Section 8.02. Annual Certification Related to Compliance with Agreement. <br />Beginning in the year 2018 and continuing each year thereafter during the Term, Amazon shall <br />submit to the City Manager of the City a duly executed and completed Compliance Certificate on <br />or before March 1 or such other later date agreed to by the City Manager, signed by an <br />authorized officer or employee of Amazon, together with supporting documentation necessary to <br />verify Amazon's compliance with this Agreement. After receiving the Compliance Certificate <br />from Amazon, the City shall have 30 calendar days to notify Amazon in writing of any questions <br />related to the Compliance Certificate and the Project that the City may have concerning any of <br />the information provided by Amazon, and Amazon shall diligently work in good faith to respond <br />to such questions to the City's reasonable satisfaction. <br />Section 8.03. Review of Amazon's Records. To the extent that the City has questions <br />about the data supplied by Amazon in any report, application, filing or other document provided <br />under this Agreement, the Parties will engage in good faith efforts to resolve such questions and, <br />12 <br />
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