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SECTION IV. Real property tax deductions for the Project are hereby approved. The <br />period for the personal property tax deduction under the Act for the <br />Project shall be ten (10) years, utilizing such schedule provided in the <br />Act provided, however, the effectiveness of the designation may be <br />terminated by this Council in the accordance with the Act. <br />SECTION V. Under the authority of the Act the Council or its designee may survey <br />and evaluate the Project for compliance with investment figures <br />contained within this Resolution. The Council may reduce the amount <br />of the authorized deduction or rescind the deduction in its entirety, <br />and/or require repayment of all or a portion of the deduction received <br />by the Applicant for failure to achieve the benefits identified in this <br />Resolution, or for failure to respond to the mandatory survey. <br />SECTION VI. Pursuant to the Act, the Council shall cause to be filed a certified copy <br />of this Resolution with the Morgan County Auditor. <br />SECTION VII. This Resolution shall be in full force and effect immediately upon its <br />adoption. <br />[The remainder of this page is intentionally blank] <br />3 <br />