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Each license granted hereunder shall be for such term of years as is set forth in the Cash Flow Agreement required pursuant to this ordinance. Application for renewal of an existing license shall be made to the City Clerk no later than 30 days prior to the termination of the existing license as set forth in the Cash Flow Agreement required hereby. Such application for renewal shall not be refused except as provided herein.
(Ord. 2867, passed 2-14-1983)
Application for a license pursuant hereto shall be made upon a form prepared and made available by the City Clerk and shall provide:
(a) The name and main business address of the applicant.
(b) The names and main business addresses of any firm, association, or corporation of which the applicant is a division or subsidiary.
(c) The names and addresses of all owners, partners, directors, officers and resident agents of the applicant.
(d) The names and addresses of all stockholders of the applicant who own twenty-five percent (25%) or more of the applicant’s stock, or of all partners or other owners of twenty-five percent (25%) or more of the applicant.
(e) A report of the prior calendar year’s activities for the educational museum/theme park indicating:
(1) Total attendance on a daily basis;
(2) Number of vehicles parked in the Related parking areas on a daily basis;
(3) A statement of any citations which the educational museum/theme park may have received for alleged violation of any Federal, State or local law, including the disposition of such citation and current status thereof; and
(4) An annual statement of operating expenses and income prepared by an independent accounting or consulting firm.
(Ord. 2867, passed 2-14-1983)
Each year during the term of the license, as such term is set forth in the Cash Flow Agreement, the licensee shall, on or before April 1, file with the Clerk an annual report which will indicate all of the same information as required in an original application for a license filed pursuant to § 12-117 above.
(Ord. 2867, passed 2-14-1983)
Upon application for the original license hereunder, the applicant shall pay a license fee which shall be established from time to time by resolution of the City Council, kept on file by the City Clerk, and contained in Appendix A of the City Code.
(Ord. 2867, passed 2-14-1983; Ord. 3402, passed 2-8-1999)
For each succeeding year during the term of this license, as the term is set forth in the Cash Flow Agreement, the licensee shall pay an annual license fee on or before April 1 of each year, which fee shall be established from time to time by resolution of the City Council, kept on file by the City Clerk, and contained in Appendix A of the City Code.
(Ord. 2867, passed 2-14-1983; Ord. 3402, passed 2-8-1999)
The licensee shall be entitled to a credit against the annual license fee required hereby in the amount of any annual debt service payable by the licensee to the City pursuant to any loan of UDAG funds from the City to the licensee and in the further amount of any annual debt service payable by the licensee to the City; and/or its agents, pursuant to any loan of funds provided by a specific grant from the State of Michigan. Said credits shall be in that annual amount which is sufficient to cause repayment of the entire principal balance of the loans, together with interest thereon, within the terms thereof.
(Ord. 2867, passed 2-14-1983)
To the extent the license fee payable hereunder exceeds the sum of ten thousand dollars ($10,000.00), said excess amount shall be payable out of the cash flow of the licensee, if and to the extent available. The cash flow of the licensee shall be determined and defined pursuant to a Cash Flow Agreement between the City and the licensee, which agreement shall at all times during the term of a license granted hereunder be on file with the City Clerk. Said agreement shall provide for the length of its term and shall specify those revenues, costs and expenses of the licensee which will be utilized in determining the licensee’s cash flow.
(Ord. 2867, passed 2-14-1983)
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