The occupation tax imposed by this Ordinance shall terminate and collection of the tax shall cease upon the earlier of 1) payment in full of all indebtedness issued by the CRA pursuant to the provisions of Section 18-2124 of the Act, for which such occupation tax receipts have been pledged; or, 2) thirty (30) years after the effective date of the occupation tax in the Enhanced Employment Area, as provided for in the Redevelopment Contract between City and Developer.
HISTORY
Adopted by Ord. 9909 on 1/4/2023