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 Three Million Two Hundred Ninety-One Thousand Seven Hundred Fifty Dollars ($3,291,750.00). 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 Redeveloper Improvements based upon an estimated taxable valuation of Sixteen Million One Hundred Fifty-Five Thousand Dollars ($16,155,000.00) after completion of the 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 Three Million Two Nine Hundred NinetyFifty-One five Thousand Seven Five Hundred Fifty and No/100 Dollars ($3,291,750.00955,500.00). 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 Redeveloper Private Improvements based upon an estimated taxable valuation of Sixteen Three Million One Nine Hundred FiftyTwenty-Five four Thousand and No/100 Dollars ($16,155,000.003,924,000.00) after completion of the Redeveloper Private 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 Three Million Nine Hundred Six Thousand Two Hundred Ninety-One Thousand Seven Hundred Fifty Twenty Nine and No/100 Dollars ($3,291,750.00906,229.00). 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 Redeveloper Private Improvements based upon an estimated taxable valuation of Sixteen Three Million One Nine Hundred FiftyTwenty-Five four Thousand and No/100 Dollars ($16,155,000.003,924,000.00) after completion of the Redeveloper 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 the tax increment to be generated from the Meadowlane Shopping Center Redevelopment Project in an amount not to exceed a total of Three Million Two Hundred Ninety-Twelve Thousand One Thousand Seven Hundred Fifty Seventy Dollars ($3,291,750.00312,170.00). 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 Redeveloper Improvements Project Site based upon an estimated taxable valuation of Sixteen Six Million One Hundred Fifty-Thirty Five Thousand Two Hundred Ninety One Dollars ($16,155,000.006,135,219.00) after substantial completion of the Redeveloper Improvements.