Common use of Agency Covenant Clause in Contracts

Agency Covenant. The Agency agrees to submit to the City Controller a Statement of Indebtedness annually for as long as the Agency is entitled to collect tax increment generated in the Project Site. The Statement of Indebtedness must report the amount of funds the Agency needs to meet its obligations under the Financing Plan and the Below-Market Rate Housing Plan and all other requirements of the CCRL for the Project.

Appears in 4 contracts

Samples: Tax Increment Allocation Pledge Agreement, Tax Increment Allocation Pledge Agreement, Tax Increment Allocation Pledge Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!