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LEVY AUTHORITY Sample Clauses

LEVY AUTHORITY. Pursuant to the provisions of Section 13-2507 of the Act:
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LEVY AUTHORITY. Pursuant to the provisions of Section 13-2507: (a) The City hereby irrevocably allocates and assigns to the Agency, for the period beginning June 1, 2010 and ending on the date upon which all of the Agency Bonds are no longer deemed to be outstanding and unpaid pursuant to the resolution or resolutions pursuant to which they are issued, its authority to cause the levy of taxes within the taxing district of the City, beginning in the year 2010 for collection in 2011, for the purpose of paying the costs of the West Haymarket Facilities pursuant to Section 15-202, Reissue Revised Statutes of Nebraska, as amended, in an amount which will be sufficient to pay the principal or redemption price of and interest on the Agency Bonds when and as the same become due (the “City Levy”), solely for the purpose of paying the principal or redemption price of and interest on the Agency Bonds. (b) The City shall implement the Agency Xxxx Xxxx as requested by the Agency as may be required to pay the principal or redemption price of and interest on the Agency Bonds as the same become due, and shall not levy less than the Agency’s lawful requested or certified levy, as long as any Agency Bonds remain outstanding. (c) The City shall collect and disburse to the trustee named by the Agency, all taxes collected under the Agency Xxxx Xxxx.
Sample 1
LEVY AUTHORITY. Pursuant to the provisions of Section 13-2507: (a) the County hereby irrevocably allocates and assigns to the Agency, for the period beginning September 15, 2008 and ending on the date upon which all of the Agency Bonds (hereinafter defined) are no longer deemed to be outstanding and unpaid pursuant to the resolution or resolutions pursuant to which they are issued, its authority to cause the levy of taxes within the taxing district of the County, beginning in the year 2008 for collection in 2009, for the purpose of paying the costs of constructing, equipping and furnishing the Correctional Facilities pursuant to Section 23-120(2), Reissue Revised Statutes of Nebraska, as amended, an amount equal to $2,000,000 (the “County Levy”) to be levied solely for the purpose of paying the principal or redemption price of and interest on such bonds of the Agency as may be issued for the purpose of acquiring land for, and constructing, equipping and furnishing Correctional Facilities (the “Agency Bonds”). (b) the City hereby irrevocably allocates and assigns to the Agency, for the period beginning September 15, 2008 and ending on the date upon which all of the Agency Bonds are no longer deemed to be outstanding and unpaid pursuant to the resolution or resolutions pursuant to which they are issued, its authority to cause the levy of taxes within the taxing district of the City, not to exceed $3,500,000 annually, beginning in the year 2008 for collection in 2009, for the purpose of paying the costs of Correctional Facilities pursuant to Section 15-202, Reissue Revised Statutes of Nebraska, as amended, in an amount which, when added to the County Levy, will be sufficient to pay the principal or redemption price of and interest on the Agency Bonds when and as the same become due (the “City Levy”), solely for the purpose of paying the principal or redemption price of and interest on the Agency Bonds. The County hereby covenants and agrees that it shall not, for any year so long as the Agency Bonds remain outstanding, cause a tax to be levied pursuant to Section 23-120 unless and until (a) the County Levy is sufficient to generate tax revenues sufficient to pay the principal or redemption price of and interest on the Agency Bonds as the same become due the following year based upon the then-current and applicable certified valuation of property to be taxed; (b) the Agency has certified the County Levy to the County Board; (c) there remains unused for that tax year a portion...
Sample 1

Related to LEVY AUTHORITY

  • Company Authority The Company has all requisite corporate power and authority to enter into and perform this Agreement and to consummate the transactions contemplated herein.

  • Necessary Authority The Scheduling Coordinator represents and warrants that all of the entities which it identifies on Schedule 1 as Scheduling Coordinator Metered Entities that it represents have granted it all necessary authority to enable it to carry out its obligations under this Agreement and the CAISO Tariff, and, subject to the execution and delivery by the CAISO, this Agreement will be enforceable against the Scheduling Coordinator in accordance with its terms.

  • Statutory Authority Connecticut General Statute §§ 10a-104, 10a-108, 4a-52a, and 10a-151b provide the University with authority to enter into contracts in the pursuit of its mission.

  • Regulatory Authority If any regulatory authority having jurisdiction (or any successor boards or agencies), a court of competent jurisdiction or other Governmental Authority with the appropriate jurisdiction (collectively, the ''Regulatory Body'') issues a rule, regulation, law or order that has the effect of cancelling, changing or superseding any term or provision of this Agreement (the ''Regulatory Requirement''), then this Agreement will be deemed modified to the extent necessary to comply with the Regulatory Requirement. Notwithstanding the foregoing, if a Regulatory Body materially modifies the terms and conditions of this Agreement and such modification(s) materially affect the benefits flowing to one or both of the Parties, as determined by either of the Parties within twenty (20) business days of the receipt of the Agreement as materially modified, the Parties agree to attempt in good faith to negotiate an amendment or amendments to this Agreement or take other appropriate action(s) so as to put each Party in effectively the same position in which the Parties would have been had such modification not been made. In the event that, within sixty (60) days or some other time period mutually agreed upon by the Parties after such modification has been made, the Parties are unable to reach agreement as to what, if any, amendments are necessary and fail to take other appropriate action to put each Party in effectively the same position in which the Parties would have been had such modification not been made, then either Party shall have the right to unilaterally terminate this Agreement forthwith.

  • Governmental Body “Governmental Body” shall mean any: (a) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; or (c) governmental or quasi-governmental authority of any nature (including any governmental division, department, agency, commission, instrumentality, official, organization, unit, body or Entity and any court or other tribunal).

  • Proper Authority Each Party represents and warrants that the person executing this Grant Agreement on its behalf has full power and authority to enter into this Grant Agreement.

  • SIGNATORY AUTHORITY The signatories to this Agreement covenant and warrant that they have authority to execute this Agreement. By signing below, the undersigned agrees to the above terms and conditions.

  • COMPETENT SUPERVISORY AUTHORITY Identify the competent supervisory authority/ies in accordance with Clause 13

  • Governmental Authority Governmental Authority" means and includes any federal, state, District of Columbia, county, municipal, or other government and any department, commission, board, bureau, agency or instrumentality thereof, whether domestic or foreign.

  • Governmental Entity “Governmental Entity” shall mean any federal, state, local or foreign court, arbitral tribunal, administrative agency or commission or other governmental or regulatory authority or administrative agency.

Most Referenced Clauses

Most Referenced Definitions