Distribution of the CID Sales Tax Revenue Sample Clauses

Distribution of the CID Sales Tax Revenue. No disbursements of the CID Sales Tax Revenues shall be made until the City has approved a Certificate, as defined in Section 4.3. After the City has approved a Certificate for the CID Project, and to the extent Reimbursable Project Costs remain unpaid, the District shall make disbursements of the entire balance of the CID Sales Tax Revenues not later than sixty (60) days after the end of each calendar quarter in the following order of priority: A. The District shall pay Operating Costs of the District. B. The District shall pay Developer’s Reimbursable Project Costs.
Sample 1
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Distribution of the CID Sales Tax Revenue. The District shall not disburse any of the CID Sales Tax Revenues for CID Reimbursable Project Costs until the City has approved the Reimbursement Certificate, as defined in Section 4.3, and in accordance with the approved annual Budget. After the City has approved any required Reimbursement Certificate in accordance with Section 4.3, and to the extent CID Reimbursable Project Costs remain unpaid, the District shall, subject to annual appropriation by the Board of Directors, make disbursements of the CID Sales Tax Revenues Fund on a monthly basis in the following order of priority: A. Pursuant to the TIF Act and the Redevelopment Plan, one-half (1/2) of the CID Sales Tax Revenue received by the District from the DOR as provided in this Agreement will be captured as Economic Activity Taxes, transferred to the City by the District, and deposited by the City into the Special Allocation Fund, which amounts shall then be subject to distribution pursuant to the TIF Contract. B. Payment of approved Operating Costs of the District. C. Payment of the CID Reimbursable Project Costs and related Financing Costs.
Sample 1
Distribution of the CID Sales Tax Revenue. No disbursements of the CID Sales Tax Revenue from the CID Revenue Fund will be made for CID Reimbursable Project Costs until the City has approved a Certificate of Completion and Compliance, as defined in Section 4.3. The City, on behalf of the District, shall disburse on a monthly basis the CID Sales Tax Revenue in the following order of priority: A. Pursuant to the TIF Act and the TIF Plan, for so long as tax increment financing is in effect within the Redevelopment Project Area, one-half (1/2) of the CID Sales Tax Revenue received by the City from the DOR as provided in this Agreement will be captured as Economic Activity Taxes and deposited by the City into the TIF Special Allocation Fund, which amounts shall then be subject to distribution pursuant to the TIF Contract. B. The City shall distribute to itself the Administrative Fee, as described in Section C. The City shall pay the approved Operating Costs of the District incurred by the City, the District or the Developer and any associated Financing Costs. D. The City shall pay the approved CID Reimbursable Project Costs and related Financing Costs.
Sample 1
Distribution of the CID Sales Tax Revenue. The District agrees to pay or reimburse the City for CID Reimbursable Project Costs on a pay as you go basis. Nothing in this Agreement shall obligate the District to issue, cause to be issued, or further endorse Obligations for any cost that is not a CID Reimbursable Project Cost. CID Reimbursable Project Costs will be certified and allocated as eligible for reimbursement and reimbursed through CID Sales Tax Revenue. A. Pay As You Go. With respect to CID Sales Tax Revenue, the CID Project may be funded on a pay as you go basis and the City shall not disburse any of the CID Sales Tax Revenues for CID Reimbursable Project Costs until the City has approved the Reimbursement Certificate, as defined in Section 4.4, and in accordance with the approved annual Budget. The District shall, subject to annual appropriation by the Board of Directors, make disbursements of the CID Sales Tax Revenues Fund on a monthly basis in the following order of priority: 1. Pursuant to the TIF Act and the TIF Plan, one-half (1/2) of the CID Sales Tax Revenue received by the District from DOR as provided in this Agreement will be – subject to the consent of the Board of Directors – captured as Economic Activity Taxes, transferred to the City by the District, deposited by the City into the Special Allocation Fund, and distributed to the City for repayment of its advanced of expenses reimbursable under the TIF Act and TIF Plan as more specifically described in the Movie Theatre Side Letter Agreement.
Sample 1

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