Laserfiche WebLink
of <br /> <br /> "(v) All sums necessary to maintain at <br />the amount of $1,000 the Working Capital Fund <br />established pursuant to the Resolution." <br /> <br /> Section 8. The last paragraph of Section <br /> <br />the Lease is amended to reas as follows: <br /> <br /> "Said payments of Additional Rental shall <br /> <br /> be paid by the City in the Fiscal Year to which <br /> the same apply or relate and within ten (10) days <br /> after the City has been furnished bills or invoices <br /> by the Authority but in no event shall such pay- <br /> ment of Additional Rental be later than the next <br /> succeeding June 30; provided that the City's lia- <br /> bility for Additional Rental shall be limited to <br /> the balance due under Section 5.02(d) of the <br /> Resolution. In the event that the liability of the <br /> City for Additional Rental does not commence on the <br /> first day of the Fiscal Year, the payments of Addi- <br /> tional Rental for taxes, assessments, and insurance <br /> shall be prorated in the following manner: (i) <br /> insurance premiums upon the basis of the period of <br /> time for which each such premium is paid, (ii) taxes <br /> and ad valorem special assessments upon the basis of <br /> the Fiscal Year for which they are levied, and (iii) <br /> specific lien assessments upon the basis of the period <br /> of time that bonds would run in the event the property <br /> were in private ownership and the assessments had not <br /> been paid in cash. Nothing herein contained shall <br /> prevent the City from making contributions or advances <br /> to the Authority from time to time for any purpose now <br /> or hereafter authorized by law." <br /> <br /> <br />