(a) The service charge in lieu of taxes as determined under this chapter shall be payable in the same manner as general property taxes, except the annual payment shall be collected by the City on or before March 15th of every year. The first annual service charge shall be due and payable on March 15, 2011. The sponsor shall submit with the March 15th payment a statement from a mutually agreed upon independent auditor verifying that the amounts to be used to compute the service charge are correct as reported.
(b) The first annual period for purposes of this chapter shall commence January 1, 2010 and end December 31, 2010.
(Res. 09-86A. Passed 4-20-09. Eff. 4-21-09.)