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qualified financial institution has committed to finance the construc- <br />tion of saki Mall.. <br />E. Financial Arrangement. City pr~~~~o:-~ca tc, undertake when needed <br />the following financial arrangements to pay for its share of the cost of <br />public works to be done by Assessment Districts 1974-2 and 1974-4: <br />1. Formation of Special Fund. City will cause a Special <br />Fund to be created for the purposes of reimbursement of cost and expenses <br />of the improvements ("Special Fund"). Such Special Fund shall consist <br />of one-half (1/2) of the City's shares of sales and use tax revenues from <br />retail sales and uses by businesses located in the Shopping Center. <br />2. Contributions from the Special Fund. The City agrees <br />that from the receipts accumulated in the Special Fund, City shall on <br />June 1st of each year deliver to the redemption fund of Assessment <br />District No. 1974-2 and No. 1974-4 formed pursuant to Section II <br />above an amount in the aggregate equivalent to one-half of all sales and <br />use tax revenues received by the City during the preceding calendar year <br />with respect to retail sales and uses by businesses located in the Shop- <br />ping Center. The funds shall be delivered to the redemption funds of said <br />Assessment Districts for credit to the payment of the assessments. The <br />redemption fund for Assessment District No. 1974-2 shall receive annually <br />from the Special Fund that percentage of the total payment from the Special <br />Fund that the City's obligation to such District bears to the then total <br />obligation of the City to both Districts and Assessment District No. 1974-4 <br />shall receive the balance. Subject to the provisions of Paragraph V-A, <br />the obligation of the City with respect to Assessment District 1974-2 <br />shall be the entire amount of principal ana interest on the bonds issued <br />by said district and, with respect to Assessment District 1974-4, one-half <br />of that percentage of the principal and interest payments on bonds <br />allocable to the acquisition of rights of way for Stoneridge Drive east <br />of I-680, the cost of improvement of such portion of Stoneridge Drive, and <br />- 8 - <br />F <br />