8/14/2019 Interlocal Agreement 8-2-99

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8/14/2019 Interlocal Agreement 8-2-99

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such contributionat the time the contributionis made. For the purpose of definition,the"disposal of operations and assets" shall mean the transfer of ovvnershipofallassets, orthe long-termlease of all assets exceeding ten (10) years, including the physicalstructure ofthe hospital as well as all equipment contained therein, to a third party inexchange for cash. Any transaction involvingdisposal of the assets shall be satisfied incash.

2. It is understood by both parties that in the event of disposal of the assets,all assets ofthe Emergency MedicalServices shall be transferred to the COUNTY,andsuch assets shall not be included in sale or lease of the hospital operations.3. In the event there is surplus revenue not used or applied to the retirementof the above referenced obligations, then such 'surplus shall be deposited in an interestbearing account. Any disbursement, withdrawal or application of surplus revenue fromthe interest bearing account shall be as follows:sixty six percent (66%) to the COUNTY -and thirty four percent (34%) to the MUNICIPALITY. In the event either party'contributes any funds fromgeneral revenue toward the initialcost of securing debt, thatparty shall be entitled to receive those funds from any surplus amount prior to anydistribution of surplus revenue.4. The COUNTY shall retain ownership and title of the land and hospitalbuilding, and may at its discretion, lease such assets to any corporation or entity for thepurpose of operating the hospital and related services. The development of the MedicalOffice Buildingassociated with the hospital shall be structured in a manner asto besubject to ad valorem taxes, and shall not be transferred, whether by lease or sale orotherwise, to an entity not subject to ad valorem taxes.INWITNESS WHEREOF, the Board of County Commissioners of Taylor County,

Florida and the City Council of the City of Perry, Florida, have entered into thisAgreement and have caused it to be executed by their duly authorized officers for and inbehalf of the parties to this Agreement.0 -', .- Cu 00 . 'oj

(SEAL)

TAYLOR COUNTY, a politicalSubdivision of the State of Florida

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. --,-"ATTEST:L 'In"-'-'l{)--,~Clerk of the Board of CountyCommissioners CITYOF PERRY. FLORIDA

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