City Role Sample Clauses

City Role. City’s responsibilities, pursuant to the Transaction Documents, shall include: 1. Acting as Airport Sponsor (as defined under federal law); 2. Using best efforts to obtain funding from federal sources, including, where applicable, FAA Airport Improvement Program (“AIP”) grants-in-aid and TSA grants (collectively, “Federal Funding Sources”), and to comply in all material respects with federal funding requirements, and to make such Federal Funding Sources available for the Project, subject to City’s prior obligations, including without limitation (i) all existing and presently contemplated funded debt and funding sources (including Federal Funding Sources), (ii) City’s authority to direct such funds, (iii) reservation of sufficient funding to support the ongoing operations and maintenance of the Airport, and (iv) City’s express approval of any specified funds and payments to be made or applied to the Project (collectively, “City Funding Conditions”); all City obligations in this Section IV shall be subject in all instances to all City Funding Conditions; Developer and City further acknowledge that to the extent federal funds, including, but not limited to, PFC Revenues and AIP grants, are applied to the Project, the relevant sections of the CFR will apply; 3. Making available the PFC Revenues, subject to FAA regulations and approvals, it being acknowledged that the Transaction Documents may include a cap on the amount of PFC Revenues to be applied to the Project; 4. Making available other funding derived from Airport Revenue, as appropriate, consistent with City’s Master Bond Ordinance; 5. Diligently negotiating the Transaction Documents and pursuing all necessary approvals of the same; 6. Reasonably cooperating with Developer in obtaining all approvals from FAA, TSA, U.S. Customs and Border Protection, and all other state or federal governmental authorities, consistent with City’s role as Airport Sponsor, as deemed necessary by and acceptable to City; 7. Reasonably cooperating with Developer to arrange financing for the Project. Without limitation of the foregoing, in no event shall such financing be or constitute a general indebtedness of City. Neither the full faith and credit nor taxing power of City will be pledged to the payment of such financing; 8. Seeking authorization to impose and use PFC Revenues at a level to be determined by City during the financing of the Project; City will work cooperatively with Developer to optimize PFC pay-as-you-go and l...
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Related to City Role

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