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Res 1990-021
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Res 1990-021
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Last modified
7/23/2007 10:49:33 AM
Creation date
7/23/2007 10:49:33 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Tax Abatement
Number
1990-21
Date
3/7/1990
Volume Book
97
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<br /> 0 i'J, r" <br /> 82'" ': í '~ <br /> -6- ,,¡¡~ (1 '. ~, <br /> J ,-:! \J <br /> date of such notice (11 Cure Period"), then this Agreement may <br /> be terminated; provided, however, that in the case of a <br /> default, other than the creation of jobs, for causes beyond <br /> Rohrls reasonable control which Rohr cannot with due diligence <br /> cure within the sixty (60) day period, the Cure Period shall <br /> be extended if Rohr shall immediately upon receipt of such <br /> notice, advise the City of Rohr's intention to institute <br /> all steps necessary to cure such default and Rohr shall <br /> institute and thereafter prosecute to completion with <br /> reasonable dispatch all steps necessary to cure same. <br />B. In the event that Rohr allows its ad valorem taxes to the City <br /> which may be owed on the Property and improvements listed in <br /> Part II to become delinquent and fails to timely and properly <br /> follow the legal procedures for their protest and/or <br /> contest, or if Rohr violates any of the terms and <br /> conditions of this Agreement and fails to cure them during the <br /> Cure Period, this Agreement. may then be terminated and <br /> all Abated Taxes previously abated by virtue of this <br /> Agreement will be recaptured, the Tax Abatement will be <br /> rescinded and such previously Abated Taxes will be paid <br /> by Rohr to the City within sixty (60) days of the termination. <br />C. In the event the improvements are completed and Rohr begins <br /> production but subsequently ceases production for any reason <br /> except fire, explosion or other casualty, accident or <br /> natural disaster, for a period of one (1) year during <br />
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