Tax Revenues. The Agency shall comply with all requirements of the Law to insure the allocation and payment to it of the Tax Revenues, including without limitation the timely filing of any necessary statements of indebtedness with appropriate officials of San Diego County and (in the case of supplemental revenues and other amounts payable by the State of California) appropriate officials of the State of California. The Agency shall not enter into any agreement with the County of San Diego or any other governmental unit which would have the effect of reducing the amount of Tax Revenues available to the Agency for payment of the Bonds, unless in the written opinion of an Independent Financial Consultant filed with the Trustee such reduction will not reduce Tax Revenues estimated to be received in the current and each future fiscal year while Bonds are Outstanding to be less than 125% of Annual Debt Service in such fiscal year.
Tax Revenues. The Borrower shall comply with all requirements of the Law to ensure the allocation and payment to it of the Pledged Tax Revenues including, without limitation, the timely filing of any necessary statements of indebtedness with appropriate officials of the County of San Diego.
Tax Revenues. “Arena Tax Revenues” means the dollar amount of: (i) all sales tax, property tax, leasehold excise tax, and admission tax revenues, as well as other tax revenues attributable to the Arena and Arena Tenant Improvements that have been received by the City or the County on and from the Project Site and Arena, and from all uses and activities conducted thereon, except for those tax revenues that are subject to legal restrictions that preclude their use either for payment of Arena-related debt or expenses hereunder (other than parking taxes attributable by contract to the Arena) plus (ii) City business tax revenues imposed under Chapter 5.45 SMC or any successor provision that the City has reasonably determined it received from ArenaCo and from other business activities engaged in, at, or from the Arena (including without limitation revenues from the business activities that have a substantial nexus with the City). In the event the City or the County issue tax-exempt bonds in connection with the Public Financing, then the underlying tax stream utilized to pay the debt service on such bonds shall be excluded from the definition of “Arena Tax Revenues.”
Tax Revenues. “Arena Tax Revenues” means the dollar amount of: (i) all sales tax, property tax, leasehold excise tax, and admission tax revenues, attributable to the Arena and Arena Tenant Improvements (above the level of tax receipts from the Project Site prior to development of the Arena), as well as other tax revenues attributable to the Arena and Arena Tenant Improvements that have been received by the City or the County on and from the Project Site and Arena, (above the level of tax receipts from the Project Site prior to development of the Arena), and from all uses and activities conducted thereon, except for those tax revenues that are subject to legal restrictions that preclude their use either for payment of Arena-related debt or expenses hereunder (other than parking taxes attributable by contract to the Arena) plus (ii) City business tax revenues imposed under Chapter 5.45 SMC or any successor provision that the City has reasonably determined it received from ArenaCo and from other business activities engaged in, at, or from the Arena (including without limitation revenues from the business activities that have a substantial nexus with the City). In the event the City or the County issue tax-exempt bonds in connection with the Public Financing, then the underlying tax stream utilized to pay theidentified by the City or County as the source for paying debt service on such bonds shall be excluded from the definition of “Arena Tax Revenues.”
Tax Revenues. A. The parties acknowledge that all real estate and personal property taxes attributable to the Township’s inside or voted millage, levied on property in the District which is not annexed during the term of this Agreement, shall be distributed by the County Treasurer to the Township.
Tax Revenues. For purposes of the foregoing, taxes of general application, including Tax Revenues, are not treated as private payments or as private security. Tax Revenues will be the primary source of repayment of the Bonds. Tax Revenues are generally applicable taxes because they: (A) are enforced contributions exacted pursuant to legislative authority as part of the taxing power; (B) are imposed and collected for the purpose of raising revenue to be used for governmental purposes; (C) have a uniform rate of collection that applies to all persons of the same classification in the appropriate jurisdiction; and (D) have a generally applicable manner of collection and determination.
Tax Revenues. Tax Revenues are all ad valorem taxes levied by the Counties, City and the School Districts on real and personal property in Xxxxxxx Xxxxxxx xxx Xxxxxxx Xxxxxxx North. This includes all taxes assessed on fee simple and leasehold interests, board of education taxes, taxes collected for special assessments for specific services, general obligation bonds, and any and all other ad valorem property taxes collected. Tax Revenues shall not include taxes collected by a county department other than the chief tax collector including, but not limited to, sales taxes, insurance premium taxes, intangible taxes, real estate transfer taxes, railroad taxes, franchise fees, occupational taxes, alcohol taxes, and financial institution taxes. Tax Revenues shall also not include ad valorem title taxes on motor vehicles. Tax Revenue shall not include ad valorem taxes collected on behalf of and due the State of Georgia. Finally, Tax Revenues shall not include any penalties or interest collected for late payments; any such penalties and interest shall be retained by the County of the Collecting Commissioner.
Tax Revenues. The Agency shall comply with all requirements of the Law to insure the allocation and payment to it of the Tax Revenues, including without limitation the timely filing of any necessary statements of indebtedness with appropriate officials of Los Angeles County. Insofar as the payment of Annual Debt Service on the Series 2010A Bonds is fully secured by Project Area No. 1 Component Tax Revenues and Project Area No. 2 Component Tax Revenues, the Agency shall identify the Series 2010A Bonds as debt with respect to the Project Area No. 1 Component and the Project Area No. 2 Component, on the statement of indebtedness filed with Los Angeles County pursuant to Section 33675(b) of the Law. The Agency shall, in addition, comply with all requirements of the Law relating to the deposit of tax revenues allocated to the Agency from the Project Area in the Low and Moderate Income Housing Fund, established by the Agency pursuant to Section 33334.3 of the Law.
Tax Revenues. As part of the financing plans approved under this Agreement, the Partnership Master Developer may fund any gap in public capital facilities or maintenance and operation of public facilities or services prior to the City’s receipt of tax revenues from the East VillageTALUS Project. Further, upon mutual agreement between the Master Developer and the City, the Master Developer may advance funds to provide City facilities or services to handle any delay between the requirement for needed services or facilities and the delayed receipt of tax revenues. The parties shall cooperate in financing such shortfall or advance payment through issuance of bonds, collection of latecomer fees or other arrangements.
Tax Revenues. The City and the Partnership acknowledge the property tax, sales tax and other revenues projected from the Project are anticipated to exceed the costs of public services and facilities required to serve the Project. As part of the financing plans to be approved under this Agreement, the Partnership may fund any gap in public capital facilities or maintenance and operation of public facilities or services prior to the City's receipt of tax revenues from the Project. Further, the Partnership may advance funds to provide City facilities or services to handle any delay between the requirement for needed services or facilities and the delayed receipt of tax revenues. The parties shall cooperate in financing such shortfall or advance payment through issuance of bonds, collection of latecomer fees or other arrangements.
