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Bill 16-32 Resolution to approve agreement with Pokagon Band of Potawatomi Indiana
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Bill 16-32 Resolution to approve agreement with Pokagon Band of Potawatomi Indiana
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4/26/2017 10:09:21 AM
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3/23/2016 2:53:38 PM
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City Council - City Clerk
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16-32
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EXECUTION COPY <br />(b). Definitions. <br />(1). As used in this Section 14, "Net Win" means the total amount wagered on <br />each Class 11 Game, minus the total amount of prizes paid to players for <br />winning wagers at such Class H Games. For purposes of calculating Net <br />Win, the total amount wagered shall not include the value of "Promotional <br />Wagers." The term "Promotional Wagers" shall include wagers made <br />using non- cashable vouchers, coupons, electronic credits or electronic <br />promotions provided by the Band or the PGA. The total amount of prizes <br />paid to players for winning wagers .at Class 11 Games shall include all <br />prizes, consisting of electronic credits to the Game, cash, check, or <br />merchandise from all wagers, including Promotional Wagers, The <br />formula prescribed here for calculating Not Win applies only to the <br />calculation of the payments due under this Agreement and is not intended <br />to preclude the Band from otherwise following accepted GAAP and <br />AICPA Guidelines in its—general accounting practices. <br />(2). As used in this Section 14, "Class 11 Games" means server based <br />electronic bingo system games that are within the JURA definition of <br />"class II gaming" (25 U.S.C. § 2703(7)(a) and 25 C.F.R. § 502.3) and <br />"Class 1H Games" means "slot machines" and "electronic or <br />electromechanical facsimiles of any game of chance" as those terms are <br />defined at 25 C.F.R. § 502.4(b). For avoidance of doubt, Class III Games <br />shall include slot machines and electronic or electromechanical facsimiles <br />of any game of chance located inside the Resort that are electronically <br />linked through one or more progressive jackpot systems, to other <br />electronic gaming devices or systems located anywhere inside or outside <br />the Resort for the purpose of generating larger jackpots. The terms Class <br />11 Games and Class III Games do not include any gaming activity that is <br />conducted through the world wide web or any other internet connection <br />wherein both the player and. the gaming or network hardware are not <br />present within the Resort. <br />(c). If requested by the City, the Band Parties shall permit a certified public <br />accounting firm ("CPA Firm") reasonably selected by the City to verify for <br />the ILT Payment period in question the Net Win at the Resort, provided that if <br />an Indiana Compact includes provisions for verifying the Net Win, then such <br />procedures shall be the exclusive method for verifying Net Win and this <br />subsection (c) shall not apply. The Band Parties shall fully cooperate with all <br />generally-accepted accounting procedures employed by the CPA Firm and <br />shall be responsible for paying one half (1/2) of the CPA Firm's fees and costs <br />associated with this Subsection 14(c). <br />Page 8 of 22 <br />
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