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(A) Whenever an individual or entity (“payor” herein), as part of any matter before or approval by the Morristown Town Council, or other governmental body of the town, including but not limited to: zoning, annexation, planning approval, building approval, or tax abatement (the “approval”) offers or agrees to the payment or rendering of a sum of money, services, or materials to or for the town as part of a specific project or fund, for the general purposes of the town or another governmental entity (such as a school corporation) or otherwise (“payment” herein) then, the payor shall sign an agreement in writing which shall be made part of the public records of the town, to contain relevant information on the payor and the payment. Such written agreement shall be sufficient if it is in the following form:
(1) The name and address of the payor;
(2) The amount of the obligation of the payor to make payment to or for the benefit of the town or other governmental entity;
(3) Any contingencies of such obligation;
(4) Significant terms and duration of the payment;
(5) The payor agrees that such obligation is an enforceable obligation of the payor, and the governmental body giving the approval may maintain an action to enforce the payment in a court of competent jurisdiction over the subject matter in Shelby County, Indiana;
(6) The payor agrees that full and adequate consideration exists for the obligation of the payor to make such payment, and that payor agrees not to assert any defense of lack of consideration for its obligation;
(7) Written opinion of legal counsel for the payor satisfactory to the governmental agency giving such approval that the obligation to make the payment has been duly authorized and executed by payor;
(8) Such other matters as the governmental body giving such approval shall require, including but not limited to, a guaranty by a parent company of the payor;
(9) The consent by the payor to rescind the approval if the payment is not fulfilled.
(B) The failure to include any one or more of the above matters shall not render the obligation of the payor invalid in any manner.
(Ord. 2001-01, passed 4-11-01)