2018-06-27 Special Meeting Agenda

SPECIAL MEETING AGENDA   27 JUNE 2018




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SPECIAL MEETING AGENDA                                                                  27 JUNE 2018

         2.     PROJECT FUNDING BY NPA
         2.1    Through the State Funding Deed, the Association has agreed to make a
                Project Contribution being one-third of the total cost to acquire the harvest
                rights under the HQP Licence and will make a direct contribution to the
                Department of $541,666 upon signing of the State Funding Deed. On signing
                of the State Funding Deed, Council will remit the balance of the NPA Project
                Contribution in the amount of $625,000 (NPA Project Contribution Pre-
                Payment) to the State with such amount to be repayable by the Association
                to Council.
         2.2    The obligation on the NPA to pay the NPA Project Contribution Pre-Payment
                to Council is subject to the formal signing by all parties of the State Funding
                Deed.

         2.3.   The NPA Project Contribution Pre-Paymentids to be re-paid in cleared funds
                by NPA to Council in the following tranches:
                (a)    $125,000.00 exclusive of GST on the first anniversary of the date NPA
                       signed the State Funding Deed;
                (b)    $125,000.00 exclusive of GST on the second anniversary of»the date
                       NPA signed the State Funding Deed;
                (c)    $125,000.00 exclusive of GST on the third anniversary of the date
                       NPA signed the State’-Funding Deed;
                (d)    $125,000.00 exclusive of GST»on the fourth anniversary of the date
                       NPA signed the State. Funding Deed;
                (e)    $125,000 exclusive of GST on the fifth anniversary of the date NPA
                       signed the State Funding Deed.
         2.4    Councihmust provide.NPA with a tax invoice a minimum of 30 days before the
                due date for the amount ofeach tranche of the NPA Funding Contribution
                Pre-Payment.
        3.      REHABILITATION FUNDING BY NPA
         3.1    In addition to the Project Contribution to acquire the harvest rights under the
                HPQ Licence, the Association agrees to make a Project Rehabilitation
                Contribution (NPA Project Rehabilitation Contribution) payable to Council
                towards costs of rehabilitation of parts of the HQP Licence Area.
         3.2    The obligation on the NPA to pay the NPA Project Rehabilitation Contribution
                to Council is subject to:
                (a)    the formal signing by all parties of the State Funding Deed;
                (b)    the land tenure over the HQP Licence Areas being transferred to a
                       protected area tenure under Council’s control as trustee;
                (c)    an annual review of the amount required for the Rehabilitation
                       Contribution by Council and NPA three months before the annual
                       anniversary of the date of gazettal of protected area tenure over the
                       HQP Licence Area/s with such annual review to take account of any
                       third party funds received by either Council, NPA or another party

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