The following shall constitute events of default, which may be declared by the city:
(A) Failure of an approved applicant to report to pay employee payroll tax as required by this subchapter, whether from new jobs or existing jobs;
(B) Failure of an approved applicant to satisfy the projected schedule of employee payroll tax submitted with its Incentive Program application or as set forth in the Program agreement.
(C) Failure of an approved applicant to pay any tax, license fee, penalty or other charge or obligation to the city pursuant to the Code of Ordinances;
(D) Failure of an approved applicant to comply with any term, condition or obligation imposed by this subchapter;
(E) Failure of an approved applicant to comply with any term, condition or obligation of the Inventive Program agreement;
(F) The making of any material misrepresentation of any statement or fact on an approved applicant’s Incentive Program application or supporting documents, whether or not relied upon by the city, Committee or Director.
(Ord. 2-2014, passed 12-12-13)