ORANGE, COUNTY OF (26) - Laserfiche WebLink

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•I 1st Priority _ funding of day-to-day repair, gaintenance)nd operating costs which 2 are not provided by the parkin ators and which are necessary to insure the continued operation of the Phase 1 8 facilities. lnsurancon�rm _ __ iums= payments towards insurance is deductibles or any other payments towards insurance claims sha'11 be 4 considered to be day -to o eratln sts..:(Sliould the amount. -• require to fund said day -to- ay repair, maintenance and operating costs exceed the available Parking Revenues, COUNTY shall- Independentiy contribute the first 4100,000 towards the make-up•Of' such-deffcit. Thereafter, CITY and COUNTY shall contribute equal's . amounts to make up any remaining deficit.); 2nd priority - if,•after satisfaction of priority one abov`d there'are•Parking Revenues remaining, payoff of Lease Payments on the certificates of participation as required by OCPPC. •(Should the amount of the Lease 9 Payments ever exceed the'availabie Parking Revenues, COUNTY shall'''; Independently contribute the first $100,000 less any amounts` 10 contri;tuted by COUNTY pursuant to Priority I above, towards the make-up of such deficit. Thereafter,- CITY and COUNTY shall 11 contribute equal amounts to make up any remaining deficit.), 12 3rd priority a .if, after satisfaction of priority two above there are Revenues remaining, funding of regularly sc�reduled Intenanc `of, SCtdMu`6A��yr+A'" 'Civic Center grounds and structures. (Should the amoun quired.to ow' fund regularly scheduled maintenance exceed the available Parking 14 Revenues, CITY shall contribute 44% of the amount necessaq to make• up the difference and COUNTY shall contribute the balance.), I5 4th priority - if, after satisfaction of priority three above there are Parking ' IO Revenues remaining, funding of special maintenance projects in Civic Center. (Should the amount required to fund special maintenance ' 17 projects exceed the remaining Parking Revenues, CITY shall contribute 44% of the amount necessary to make up the difference and Is COUNTY shall contribute the balance.); 19 5th priority if, after satisfaction of priority four above there are Parking Revenues remaining, CITY. and County shall be reimbursed for all, . 24 funds previously advanced under Priorities) and 2 above, with'' Interest at the County Treasurer's comingled pool rate for the 21 applicable time periods, provided, however, Jthat COUNTY shall "o-' a reimbursement fo�all indepde ennt contributions made by 22 County together with applicable interest) prior to CitY's participation in such reimbursements. If funds are remaining beyond 23 such reimbursement, then such funds shall be used for funding of new joint (CITY/COUNTY) capital projects, Should there be insufficient 24 Parking Revenues remaining to completely fund new projects CITY and COUNTY shall, by separate agreement, determine how such prciect_s. 25 shall be funded. If, however, no joint capital projects are planned or should CITY and COUNTY fail to agree on a method(s) for funding nag such capital projects then those Parking Revenues remaining shall be divided equally between CITY and COUNTY and each party may expend 27 GS ado of its share of such Parking Revenues at its sole discretion. 28 0599w-5 -5. `12-4-87