Sec. 7. The licensed owner of a riverboat operating in Vigo County shall pay:
(1) a one (1) time payment of one million two hundred thousand dollars ($1,200,000) within the first year that the licensed owner conducts gaming operations in Vigo County;
(2) a one (1) time payment of nine hundred thousand dollars ($900,000) within the second year that the licensed owner conducts gaming operations in Vigo County; and
(3) a one (1) time payment of six hundred thousand dollars ($600,000) within the third year that the licensed owner conducts gaming operations in Vigo County;
to the city of Evansville.