Payment of City Contribution Sample Clauses

Payment of City Contribution i. Payments shall be made in the form of multiple TIF Notes and shall be paid only from available incremental taxes, being that amount equal to ninety percent (90%) of the ad valorem taxes which, pursuant to the TIF Ordinances and Section 5/11-74.4-8b of the TIF Act, are allocated to, and when collected, paid to the City. Each such TIF Note shall relate individually to each Sub-Project, as such term is defined hereinafter; provided that one (1) TIF Note shall be issued upon the Effective Date that will initially hold, or otherwise account for, Developer’s soft costs, acquisition costs, and other Redevelopment Project Costs that it will incur prior to the commencement of construction at any Sub-Project. Available incremental taxes are limited to only those taxes allocated from the tax parcel identification numbers (the “PINs”) included within the Property and any Additional Acquisitions, as such term is defined hereinafter. The Net Incremental Property Taxes generated upon all of the PINs, and the Redevelopment Project Costs generated by each of the Sub-Projects, shall “fund” each of the TIF Notes collectively. The current PINs for the Property are included in Exhibit B, and the Additional Acquisitions are identified in Exhibit C-5. With regard to available incremental taxes generated solely by the PINs and the Additional Acquisitions, payments on the TIF Notes shall have priority over any other current and future obligations of the Redevelopment Areas.
Sample 1
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Payment of City Contribution. Within ten (10) days of receipt of an application for payment as certified by the Developer and confirmed by the City Engineer, the City shall pay to Developer by check or federal wire funds transfer, the portion of the City Contribution sought by Developer for the portion of the Public Improvements then complete. Within ten (10) days following completion of the Public Improvements and the acceptance of same by the City in accordance with Paragraph 20(b) above, the City shall pay to Developer, by check or federal wire funds transfer the remaining balance of the City Contribution. If the City fails to pay the amounts due Developer within the applicable ten (10) day periods set forth above, such amounts shall bear interest at the per annum rate of three percent (3%) over the Prime Rate as announced from time-to-time in the financial pages of The Wall Street Journal, from the expiration of the applicable ten (10) day period until such amounts and all accrued interest have been fully paid.
Sample 1

Related to Payment of City Contribution

  • City Contribution 387. The City agrees to maintain health and dental benefits at present levels for the life of the Agreement.

  • Payment of Contributions The College and eligible academic staff members shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Investment of Contributions At the direction of the Designated Beneficiary (or the direction of the Depositor or the Responsible Individual, whichever applies) the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a custodial account investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Designated Beneficiary (or the Depositor or Responsible Individual), and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Designated Beneficiary.

  • Premium Contributions i. Effective March 1, 2014, the Company and employees will contribute toward the premium costs of the NECA Health Plan for eligible Regular employees in accordance with this Section.

  • County Contribution The EMPLOYER shall make the following annual contributions to an eligible employee’s HCSP account beginning in 2009. The EMPLOYER’S annual lump sum contribution shall be made the second paycheck in February of each year in the amount determined by the service threshold as of December 31 of the same calendar year.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Campaign Contributions The CONTRACTOR is hereby notified of the applicability of 11-355, HRS, which states that campaign contributions are prohibited from specified state or county government contractors during the terms of their contracts if the contractors are paid with funds appropriated by a legislative body.

  • Return of Contributions The General Partner shall not be personally liable for, and shall have no obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate, the return of the Capital Contributions of the Limited Partners or Unitholders, or any portion thereof, it being expressly understood that any such return shall be made solely from Partnership assets.

  • Distribution of Financial Contribution The financial contribution of the Funding Authority to the Project shall be distributed by the Coordinator according to: - the Consortium Plan - the approval of reports by the Funding Authority, and - the provisions of payment in Section 7.3. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.

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