Legislative Authorization. This Agreement is governed by and subject to the restrictions set forth in the Xxxxxxxxxx Redevelopment Financing Act and the Michigan General Property Tax Act. In the event that there is legislation enacted in the future which restricts or adversely affects the amount of Tax Increment Revenues capturable, Eligible Properties, or Eligible Activities relating to already approved plans, then any Owner’s rights and the ELBRA’s obligations under this Agreement shall be eliminated or modified accordingly.
Legislative Authorization. This Agreement is governed by and subject to the restrictions set forth in the Act. In the event that there is legislation enacted in the future which alters or affects the amount of Tax Increment Revenues subject to capture, Eligible Properties, or Eligible Activities, then the Developer’s rights and the Authority’s obligations under this Agreement may be modified accordingly by agreement of the parties.
Legislative Authorization. Effective upon legislatively authorized salary percentage increases, the Schedule A shall be adjusted accordingly. Increments shall be granted as earned in each year on September 1 of the agreement.
Legislative Authorization. This Agreement is governed by and subject to the restrictions set forth in Act 381. If there is legislation enacted in the future that alters or affects the amount of Xxxxxxxxxx TIF Revenue subject to capture, eligible property, or Eligible Activities, then the Property Owner’s rights and the Authority’s obligations under this Agreement shall be modified accordingly as required by law, or by agreement of the parties.
Legislative Authorization. All commitments in regard to compensation and economic fringe benefits which are required by this Agreement including the salary schedule, Section 1, are contingent upon legislative authorization.
