Common use of Issuance of TIF Indebtedness Clause in Contracts

Issuance of TIF Indebtedness. Not earlier than thirty (30) days following the later date of the approval and execution of this Redevelopment Agreement or the date the issuance of the TIF Bond (defined below) has been authorized, which date is after the remonstrative period in Neb. Rev. Stat § 18-2142.01 or as soon thereafter as is practicable, the City shall issue TIF Indebtedness (“TIF Bond”) in the sum of Nine Hundred Six Thousand Two Hundred Twenty Nine and No/100 Dollars ($906,229.00). The TIF Bond shall be purchased by the Redeveloper or its Lender (“TIF Bond Purchaser”). The City shall either: (a) receive TIF Bond Proceeds from the TIF Bond Purchaser to be deposited into a City fund account (the “Project Account”) for payment of the items listed in the TIF Priority Expenses set forth in Section 503 below; or (b) based on documentation and pay applications submitted by Redeveloper, approve progress payments for eligible expenses and approve, subject to a disbursement agreement between the City and TIF Bond Purchaser, disbursement by the TIF Bond Purchaser to contractors and suppliers directly. The total dollar amount of the TIF Bond is the estimated amount of the tax increment to be generated on the Redeveloper Property and Private Improvements based upon an estimated taxable valuation of Three Million Nine Hundred Twenty-four Thousand and No/100 Dollars ($3,924,000.00) after completion of the Private Improvements.

Issuance of TIF Indebtedness. Not earlier than On or after thirty (30) days following the later date of the approval and execution of this Redevelopment Agreement or the date the issuance of the TIF Bond (defined below) has been authorizedAgreement, which date is after the remonstrative period in Neb. Rev. Stat § 18-2142.01 of this Redevelopment Agreement, or as soon thereafter as is practicable, practicable and pursuant to this Agreement the City shall authorize and issue TIF Indebtedness (“TIF Bond”) indebtedness in the sum estimated amount of Nine the tax increment to be generated from the Meadowlane Shopping Center Redevelopment Project in an amount not to exceed a total of Three Hundred Six Twelve Thousand Two One Hundred Twenty Nine and No/100 Seventy Dollars ($906,229.00312,170.00). The TIF Bond shall be purchased by the Redeveloper or its Lender (“TIF Bond Purchaser”). The City shall either: (a) receive TIF Bond Proceeds from the TIF Bond Purchaser to be deposited into a City fund account (the “Project Account”) for payment of the items listed in the TIF Priority Expenses set forth in Section 503 below; or (b) based on documentation and pay applications submitted by Redeveloper, approve progress payments for eligible expenses and approve, subject to a disbursement agreement between the City and TIF Bond Purchaser, approve disbursement by the TIF Bond Purchaser to contractors and suppliers directly. The above total dollar amount of the TIF Bond Indebtedness is the estimated amount of the tax increment (“TIF Tax Revenues”) to be generated on the Redeveloper Property and Private Improvements Project Site based upon an estimated taxable valuation of Three Six Million Nine One Hundred Twenty-four Thirty Five Thousand and No/100 Two Hundred Ninety One Dollars ($3,924,000.006,135,219.00) after substantial completion of the Private Redeveloper Improvements.

Issuance of TIF Indebtedness. Not earlier than thirty (30) days following the later date of the approval and execution of this Redevelopment Agreement or the date the issuance of the TIF Bond (defined below) has been authorized, which date is after the remonstrative period in Neb. Rev. Stat § 18-2142.01 or as soon thereafter as is practicable, the City shall issue TIF Indebtedness (“TIF Bond”) in the sum of Nine Hundred Six Thousand Three Million Two Hundred Twenty Nine and No/100 Ninety-One Thousand Seven Hundred Fifty Dollars ($906,229.003,291,750.00). The TIF Bond shall be purchased by the Redeveloper or its Lender (“TIF Bond Purchaser”). The City shall either: (a) receive TIF Bond Proceeds from the TIF Bond Purchaser to be deposited into a City fund account (the “Project Account”) for payment of the items listed in the TIF Priority Expenses set forth in Section 503 below; or (b) based on documentation and pay applications submitted by Redeveloper, approve progress payments for eligible expenses and approve, subject to a disbursement agreement between the City and TIF Bond Purchaser, disbursement by the TIF Bond Purchaser to contractors and suppliers directly. The total dollar amount of the TIF Bond is the estimated amount of the tax increment to be generated on the Redeveloper Property and Private Redeveloper Improvements based upon an estimated taxable valuation of Three Sixteen Million Nine One Hundred TwentyFifty-four Five Thousand and No/100 Dollars ($3,924,000.0016,155,000.00) after completion of the Private Redeveloper Improvements.

Issuance of TIF Indebtedness. Not earlier than thirty (30) days following the later date of the approval and execution of this Redevelopment Agreement or the date the issuance of the TIF Bond (defined below) has been authorized, which date is after the remonstrative period in Neb. Rev. Stat § 18-2142.01 or as soon thereafter as is practicable, the City shall issue TIF Indebtedness (“TIF Bond”) in the sum of Nine Hundred Six Fifty-five Thousand Two Five Hundred Twenty Nine and No/100 Dollars ($906,229.00955,500.00). The TIF Bond shall be purchased by the Redeveloper or its Lender (“TIF Bond Purchaser”). The City shall either: (a) receive TIF Bond Proceeds from the TIF Bond Purchaser to be deposited into a City fund account (the “Project Account”) for payment of the items listed in the TIF Priority Expenses set forth in Section 503 below; or (b) based on documentation and pay applications submitted by Redeveloper, approve progress payments for eligible expenses and approve, subject to a disbursement agreement between the City and TIF Bond Purchaser, disbursement by the TIF Bond Purchaser to contractors and suppliers directly. The total dollar amount of the TIF Bond is the estimated amount of the tax increment to be generated on the Redeveloper Property and Private Improvements based upon an estimated taxable valuation of Three Million Nine Hundred Twenty-four Thousand and No/100 Dollars ($3,924,000.00) after completion of the Private Improvements.