Res 2006-153 - Laserfiche WebLink

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incurred by the Developer. These examinations shall be conducted at the Developer's local office. Section 4.07 Payment of Taxes. The Developer shall pay, on or before their respective due dates, to the appropriate authority all Federal, State, and local taxes and fees that are now or may hereafter be levied upon the Developer's property in the Zone, or upon the Developer, or upon the Developer's activities related to the Project or the Zone, and the Developer shall maintain in current status all federal State, and local licenses and permits required for the operation of the business conducted by the Developer. Section 4.08 No Use of Tax Increment Funds for Attorney Fees. The Developer agrees that under no circumstances will the Available Tax Increment Funds received under this Agreement be used, either directly or indirectly, to reimburse any costs or attorney fees incurred by the Developer in any adversarial proceeding involving the City or the Zone regarding the Project or this Agreement. ARTICLE V DUTIES AND RESPONSIBILITIES OF THE ZONE AND THE CITY Section 5.01 Reimbursement Limited to Available Tax Increment Funds. The Zone and the City agree and pledge to use the Available Tax Increment Funds to reimburse the Developer for Project Costs incurred by the Developer, up to the amount described in Section 5.04 below. The Parties agree that neither the City nor the Zone guarantee that the Available Tax Increment Funds will reimburse the Developer according to any specific schedule or time frame, or that the Available Tax Increment Funds will ever be sufficient to completely reimburse the Developer for the Project Costs. The Available Tax Increment Funds shall constitute the only funds available for reimbursement by the Zone or the City to the Developer for the Project. Section 5.02 Deposits into the Tax Increment Fund. The City has established and will maintain a separate Tax Increment Fund, including any subaccounts if necessary, into which all Available Tax Increment Funds of the Zone will be deposited. Proceeds from this fund will include revenues received from Hays County under the Interlocal Agreement between the City of San Marcos and Hays County dated December 1, 2005. Section 5,03 Proiect Review by Other Entities. The City will provide reasonable assistance to the Developer and to encourage other public entities, particularly the Texas Department of Transportation, and the County, to perform reviews of the Project, and issue permits required for the Project. Section 5.04 Amount of Reimbursement for Proiect Costs. The current estimate of the total of all Project Costs is $7,840,117, including construction, engineering, surveying, utility relocation, right-of-way acquisition and contingencies. Prior to award of the contract for construction of the Project, the Developer agrees to secure the approval of the amount of the proposed contract price to the City and the Zone for approval by the City Director of Engineering. If the City does not reject the proposed construction contractor or the proposed contract price within three business days of receipt, the contract price will be deemed approved. Prior to executing any change order to the construction contract which increases the Project -9-