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1993_0208_packet
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1993_0208_packet
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B. In the event the City does not exercise its purchase option, it shall be <br />entitled to an amount equal to the depreciated value of its investment in <br />the Elementary School building at the time of closing. <br />C, The depreciated value of the City ' s investment shall be based upon a <br />twenty -five (25) year straight -line depreciation schedule. On the January <br />1st following the date of the City ' s frst Wight of use, the City# s investment <br />shall depreciate in the sum of $10,000.00 (for each elementary school) <br />and shall depreciate $10,000.00 each January 1st thereafter until fully <br />depreciated. <br />9, Equitable Treatment, It is understood by the parties that the payments made by <br />the City are to be used to provide larger size and higher quality gymnasium and locker room <br />improvements, office and storage space, end exclusive use provision, , all at no additional charge <br />as outlined in this Agreement. The School District acknowledges the. need to maintain equity <br />in dealing with various municipalities in this matter* Accordingly, the School District affirms <br />and represents that it is not presently engaged in any discussions nor does it contemplate entering <br />into agreements with zany other cities with substantially different terms than this Agreement. It <br />is further recognized, however, that based upon legislative changes, changes in the needs of the <br />school district and - other unforeseeable circumstances, similar agreements in the fu Vure may <br />encompass substantially different terns and conditions. <br />10. Arbitratiop. Any disputes regarding compliance with or interpretation of this <br />Agreement shall be resolved by good faith negotiations. Failing that, such disputes shall be <br />resolved by final and binding arbitration betw6en the parties utilizing the American Arbitration <br />.8 <br />
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