Issuance of PID Bonds Sample Clauses

Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article, if the Owner provides a Bond Issuance Request, the City will consider the issuance of the PID Bonds to pay for the Costs with respect to the Authorized Improvements as contemplated by Article IV. The City will consider the issuance of PID Bonds within four (4) to six (6) months after receiving a Bond Issuance Request from the Owner provided that Owner can reasonably demonstrate to the City and its Financial Advisors that (i) the Future Bond Test has been satisfied, if applicable, and (ii) there is sufficient security for the PID Bonds as set forth in subsection 2.05(d) above, based upon the market conditions existing at the time of such proposed sale. The City shall promptly obtain the Appraisal and any other financial analysis required hereby. The Authorized Improvements anticipated to be constructed and funded in connection with the PID Bonds shall be described in the initial Assessment Plan. (b) The aggregate principal amount of PID Bonds required to be issued hereunder shall not exceed an amount sufficient to fund: (i) the Costs of the Authorized Improvements, (ii) required reserves, including any amounts contemplated pursuant to Section 5.01(i) herein, (iii) the PID Reserve Fund and all or a portion of the first year’s installment of the Administrative Fund (as will be defined in the Indenture), and (iv) any costs of issuance for the PID Bonds. (c) The final maturity for each series of PID Bonds secured by a given Improvement Area shall occur no later than 30 fiscal years from the issuance date of the first series of PID Bonds secured by the Improvement Area in question. (d) Owner may request the issuance of the PID Bonds, subject to the condition that the maximum aggregate par amount of all of the PID Bonds shall not exceed $27,500,000. (e) The targeted annual PID installment equivalent tax rate (inclusive of total debt service, prepayment and delinquency reserve fund contributions, and Administrative Expenses) at the time the Special Assessments are levied is $0.73 per $100.00 of valuation (based on estimated build out values at the time the Assessment Plan is adopted and as agreed upon by the Owner and the City). The Owner and the City understand that it is the intent to have a fixed assessment for all the assessed property categories throughout the District regardless of annual PID installment equivalent tax rate metrics as recommended by the City’s consultants or PID Administrator...
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to authorize the issuance of the PID Bonds up to an aggregate principal amount of $26,000,000 to reimburse Developer for Authorized Improvements Costs. The Authorized Improvements to be constructed, reimbursed and funded in connection with the PID Bonds are detailed in Exhibit C, and in the Service and Assessment Plan including any updates thereto. The PID Bond proceeds will be used to pay for, reimburse or acquire the Authorized Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary action by the City Council and is further conditioned upon the adequacy of the bond security and other applicable conditions, including but not limited to conditions for issuance of PID Bonds set forth in the Development Agreement. (b) The issuance of the PID Bonds is subject to the discretion of the City Council and such PID Bonds shall be issued with the terms deemed appropriate by the City Council at the time of issuance. (c) The following additional conditions must be satisfied prior to the City’s consideration of the sale of any PID Bonds: (i) the aggregate maximum aggregate par amount of the PID Bonds shall not exceed $26,000,000. (ii) minimum value to lien ratio of at least 3:1 for the land in the PID; such value shall be confirmed by appraisal from licensed MAI appraiser. (iii) the Authorized Improvements which will be subject to the Assessments securing the proposed series of PID Bonds must be completed and accepted by the City.
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Issuance of PID Bonds. Subject to the terms and conditions set forth in this Article V, the City has the authority to issue Phased PID Bonds to pay for the Actual Costs with respect to the Public Improvements as contemplated in Sections 4.02. The City will use good faith efforts to issue Phased PID bonds after receiving and thoroughly reviewing the Bond Issuance Request for the Developer provided that Developer can reasonably demonstrate to the City and its financial advisors that (i) an acceptable Market Study Analysis have been provided, (ii) there is sufficient security for the PID Bonds, based upon the market conditions existing at the time of such proposed sale, (iii) the City shall have obtained the Appraisal and any other financial analysis required hereby, and (iv) such request complies with the provisions for issuing PID bonds in any PID policy approved by the City, including any requirements related to level debt service for PID Bonds.
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Issuance of PID Bonds. Section 3.02(c ) (ii) is deleted, along with any and all reference in the Reimbursement Agreement relative to the requirement of (i) a minimum value to lien ratio, and (ii) an appraisal from a MAI appraiser.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to authorize the issuance of the PID Bonds up to an aggregate principal amount of $9,225,000 to reimburse or acquire the Authorized Improvements. The Authorized Improvements to be constructed, reimbursed and funded in connection with the PID Bonds are detailed in Exhibit C, and in the Service and Assessment Plan or any updates thereto. The PID Bond proceeds will be used to pay for, reimburse or acquire the Authorized Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary action by the City Council and is further conditioned upon the adequacy of the bond security and other applicable conditions, including but not limited to conditions for issuance of PID Bonds set forth in the Development Agreement. It is anticipated by the Parties that the first issuance of PID Bonds will be issued when homes have been constructed upon 40% of the lots located within Phase I unless mutually agreed upon by the Parties. It is anticipated by the Parties that the second issuance of PID Bonds will be issued when homes have been constructed upon 40% of the lots located in Phase 2. (b) The issuance of the PID Bonds is subject to the discretion of the City Council and such PID Bonds shall be issued with the terms deemed appropriate by the City Council at the time of issuance.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article V, if the Owner provides a Bond Issuance Request, the City intends to authorizewill consider the issuance of the PID Bonds to pay for the Costs with respect to the PublicAuthorized Improvements as contemplated by Article
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Related to Issuance of PID Bonds

  • Issuance of the Bonds The Authority shall issue the Bonds under and in accordance with the Indenture, subject to the provisions of the bond purchase agreement among the Authority, the initial purchaser or purchasers of the Bonds and the Company. The Company hereby approves the issuance of the Bonds and all terms and conditions thereof.

  • Issuance of Notes The Owner Trustee is hereby authorized and directed on behalf of the Trust to execute, issue and deliver the Notes pursuant to the Indenture.

  • Issuance of Bonds Subject to the satisfaction of and compliance with all of the provisions, covenants and requirements of this Agreement, in order to provide funds for the payment of the Project Costs, the Issuer has authorized the issuance and delivery of the Bonds to the Initial Purchaser in accordance with the Indenture.

  • Issuance of Additional Securities Such Grantor will not permit or suffer the issuer of an Equity Interest constituting Pledged Collateral owned by it to issue additional Equity Interests, any right to receive the same or any right to receive earnings, except to such Grantor.

  • Issuance of Additional Notes The Issuers shall be entitled, subject to their compliance with Section 4.09, to issue Additional Notes under this Indenture which shall have identical terms as the Initial Notes issued on the Initial Issuance Date, other than with respect to the date of issuance, issue price and the date from which interest begins to accrue. The Initial Notes issued on the Initial Issuance Date, any Additional Notes and all Exchange Notes issued in exchange therefor shall be treated as a single class for all purposes under this Indenture, including, without limitation, waivers, consents, directions, declarations, amendments, redemptions and offers to purchase. With respect to any Additional Notes, the Issuers shall set forth in an Officers’ Certificate, which shall be delivered to the Trustee, the following information: (1) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; (2) the issue price, the issue date and the CUSIP number and any corresponding ISIN of such Additional Notes; and (3) whether such Additional Notes shall be Transfer Restricted Securities and issued in the form of Initial Notes as set forth in Exhibit 1 to the Appendix to this Indenture or shall be issued in the form of Exchange Notes as set forth in Exhibit A to the Appendix.

  • Original Issuance of Notes 3 Section 2.01 Form..............................................................................3 Section 2.02 Execution, Authentication and Delivery............................................3 Section 2.03

  • Issuance of Note Subject to all of the terms and conditions hereof, the Company agrees to issue and sell to the Investor, and the Investor agrees to purchase from the Company, a Note in the principal amount set forth opposite such Investor’s name on the signature page hereto.

  • Upon Issuance of Additional Securities Upon the issuance by the General Partner of any Additional Securities (including pursuant to the General Partner’s distribution reinvestment plan) other than to all holders of REIT Shares, the General Partner shall contribute any net proceeds from the issuance of such Additional Securities and from any exercise of rights contained in such Additional Securities, directly and through the General Partner, to the Partnership in return for, as the General Partner may designate, Partnership Interests or rights, options, warrants or convertible or exchangeable securities of the Partnership having designations, preferences and other rights such that their economic interests are substantially similar to those of the Additional Securities; provided, however, that the General Partner is allowed to issue Additional Securities in connection with an acquisition of assets that would not be owned directly or indirectly by the Partnership, but if and only if, such acquisition and issuance of Additional Securities have been approved and determined to be in or not opposed to the best interests of the General Partner and the Partnership; provided further, that the General Partner is allowed to use net proceeds from the issuance and sale of such Additional Securities to repurchase REIT Shares pursuant to a share repurchase plan. Without limiting the foregoing, the General Partner is expressly authorized to issue Additional Securities for less than fair market value, and to cause the Partnership to issue to the General Partner corresponding Partnership Interests, so long as the General Partner concludes in good faith that such issuance is in the best interests of the General Partner and the Partnership. Without limiting the foregoing, if the General Partner issues REIT Shares of any Class for a cash purchase price and contributes all of the net proceeds of such issuance to the Partnership as required hereunder, the General Partner shall be issued a number of additional Partnership Units having the same Class designation as the issued REIT Shares equal to the number of such REIT Shares of that Class issued by the General Partner the proceeds of which were so contributed.

  • Issuance of Units By executing the Reference Trust Agreement and receipt for deposited Securities, the Trustee will thereby acknowledge receipt of the deposit of the Securities listed in the Schedules to the Reference Trust Agreement and referred to in Section 2.01 hereof, and simultaneously with the receipt of said deposit, has recorded on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Reference Trust Agreement and has delivered, or on the order of the Depositor will deliver, in exchange for such Securities, cash or a Letter of Credit, documentation evidencing the ownership of the number of Units specified or, if requested by the Depositor, the ownership by DTC of all such Units and will cause such Units to be credited at DTC to the account of the Depositor or, pursuant to the Depositor's direction and as hereafter provided, the account of the issuer of the Letter of Credit referred to in Section 2.01. The number of Units in a Trust may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, on any day on which the Depositor is the only Unitholder of such Trust, which revised number of Units shall be recorded by the Trustee on its books. Effective as of the Evaluation Time on October 1, 2014, in the event that the aggregate value of Securities in the Trust has increased since the evaluation on September 30, 2014, the Trustee shall issue such number of additional Units to the Unitholder of outstanding Units as of the close of business on October 1, 2014, that the price per Unit computed as of the Evaluation Time on October 1, 2014, plus the maximum applicable sales charge shall equal approximately $10 per Unit (based on the number of Units outstanding as of said Evaluation Time, including the additional Units issued pursuant to this sentence); in the event that the aggregate value of Securities in the Trust Fund has decreased since the evaluation on September 30, 2014, there will be a reverse split of the outstanding Units, and said Unitholder will surrender to the Trustee for cancellation such number of Units, that the price per Unit computed as of the Evaluation Time on October 1, 2014, plus the maximum applicable sales charge shall equal approximately $10 per Unit (based on the number of Units outstanding as of said Evaluation Time, reflecting cancellation of Units pursuant to this sentence). The Trustee hereby agrees that on the date of any deposit of additional Securities pursuant to Section 2.05 it shall acknowledge that the additional Securities identified therein have been deposited with it by recording on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units to be issued in respect of such additional Securities so deposited. (24) Section 2.01 is hereby amended and replaced in its entirety with the following:

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