Common use of Disbursement of Authority Loan Proceeds Clause in Contracts

Disbursement of Authority Loan Proceeds. The Authority shall disburse proceeds of the Authority Loan to the City or directly to the Successor Agency, as elected by the City.

Disbursement of Authority Loan Proceeds. The Authority shall disburse proceeds of the Authority Loan to the City or directly City, to the Successor Agency, or directly to payees under approved enforceable obligations as listed on the ROPS 14-15A, as elected by the City.