Excess Pledged TIF Revenue. To the extent Pledged TIF Revenue is available in amounts in excess of those required to make the payments then due on the Bonds, such excess Pledged TIF Revenues shall be used to redeem the Bonds prior to their maturity.
Excess Pledged TIF Revenue. Subject to the foregoing Section 5.02, to the extent Pledged TIF Revenue is available in amounts in excess of those required to make the payments then due on the Bonds, such excess Pledged TIF Revenues may, in the discretion of the Commission and the Avon Town Council, be used to redeem the Bonds prior to their maturity without penalty or premium.
Excess Pledged TIF Revenue. To the extent Pledged Increment is available in amounts in excess of those required to make the payments then due or past due payments on the Mixed-Use Bonds (pursuant to subsection 10(b) above) on the Mixed-Use Bonds, 50% of such excess Pledged Increment shall be used to redeem the Mixed-Use Bonds prior to their maturity.
Excess Pledged TIF Revenue. To the extent Pledged Increment is available in amounts in excess of those required to make the payments then due or past due payments on the Mixed-Use Bonds (pursuant to subsection 10(b) above) on the Mixed-Use Bonds, 50% of such excess Pledged Increment shall belong solely to MRC, for use as MRC deems to be appropriate; provided that MRC may elect (but is not obligated to elect)be used to redeem the Mixed-Use Bonds prior to their maturity.
Excess Pledged TIF Revenue. To the extent Pledged Increment is available in amounts in excess of the amount to make the then due or past due payments on the TIF Bonds (pursuant to Subsection 11(b) above), such excess Pledged Increment shall be used to redeem the TIF Bonds prior to their maturity. Thereafter, any tax increment revenue generated within the Allocation Area shall be used for any purpose determined by the RDC, in its sole discretion.
