The refund shall be 100% of the sales taxes paid to the city with respect to the project. The person receiving a refund shall be entitled to retain 100% of the amount refunded if the project remains in operation in the city for at least five years. If the project ceases operation in the city before the end of the five-year period, the city shall be entitled to repayment of all or a portion of the amount refunded, the refund being prorated based upon the time remaining in the five-year minimum term. Any amount the city is entitled to recover under this section shall constitute a debt to the city and a lien in favor of the city upon all property and rights to property whether real or personal belonging to the claimant and may be recovered in an action of the debt.
(1992 Code, § 39-177) (Ord. 42-05, passed 4-18-2005; Ord. 60-07, passed 5-7-2007)