Miami County 52-1

Jurisdictions: City of Peru, Miami County

Topic: Debt payment

Date: 1992 January

Purpose: To establish a schedule for when City will pay County. (P. 1)

Function: Support functions, Bond/loan issue and repayment (P. 1)

Type: Collaboration (P. 1)

Organization: Joint agreement. No governing board. Single supply: City owes County money and will pay it. (In 1991, City and County purchased a piece of real estate. Price paid was advanced by County. City will now repay County.) (Pp. 1-2)

Administration: Debt will be repaid in four equal installments over a period of a year and a half. Dates are given, as is total amount owed. No interest shall accrue on debt. Payments by City to come from particular funds (CEDIT funds). (P. 1) Upon completion of agreement, County, or its Redevelopment Commission, shall execute and deliver a deed to the City. (P. 2)

Termination: Occurs upon full payment of said debt. (P.1) Could also occur if both parties agree and if they execute another agreement. (P. 1)