Plan of Finance. The PID shall implement the Plan of Finance attached to this Agreement as Exhibit in accordance with the Formation Documents.
Plan of Finance. The District shall utilize all express and implied authority granted by the Act, the City TIDD Application Guidelines, and the Formation Resolution to implement the “Plan of Finance” included in the XXXX Plan (the “Plan of Finance”) attached as Exhibit E to this Agreement and hereby incorporated into and made a part of this Agreement. The Parties intend for the District to spend any Tax Increment Revenues received in accordance with the Plan of Finance and not unnecessarily accumulate Tax Increment Revenues. Without the express written consent of the Developer, which consent may be withheld at the Developer’s sole and absolute consent, the District shall not levy any property tax or charge. The Parties wish to provide the City with the option to adjust, from time-to-time, the percentage of the City GRT Increment Dedication (as defined in the Formation resolution) in the event the District’s Tax Increment Revenues received significantly outperform projections in the Application. As such, the Parties intended to develop criteria to allow this adjustment. However, as of the Effective Date, the Parties were unable to accurately develop standards for such adjustments based upon information currently available. As such, the Parties shall, following substantial completion of all horizontal and vertical construction in the District and upon the request of the City, work in good faith to develop such criteria for adjusting the percentage of the City GRT Increment Dedication, as well as the corresponding benchmarks and schedule, all to be memorialized in an amendment to this Agreement.
Plan of Finance. The District shall utilize all express and implied authority granted by the Act, the City PID Application Guidelines, and the Formation Resolution to implement the DGP and the Plan of Finance. In doing so, the Parties intend for the District to spend any District Special Levy revenues received in accordance with the DGP and the Plan of Finance and not unnecessarily accumulate District Special Levy revenues unless otherwise contemplated by this Agreement.
Plan of Finance. The City will arrange to finance the costs of the Project in a manner that results in the availability of funds in the amounts and at the times required to meet the projected needs for the Project, subject to annual appropriation. The City will provide reasonable evidence of funding for the Project to Contractor upon its request.
Plan of Finance. The Owner will arrange to finance the costs of the Project in a manner that results in the availability of funds in the amounts and at the times required to meet the projected needs for the Project. The Owner will include in its annual budget proposals amounts reasonably necessary to finance the entire Project. The Owner will provide reasonable evidence of funding for the Project to the Design-Builder upon its request.
Plan of Finance. The School Board will use its best efforts to arrange financing for the costs of the Project in a manner that results in the availability of funds in the amounts and at the times required to meet the projected needs for the Project.
Plan of Finance. The Parties shall prepare a formal Plan of Finance based upon the cost estimate for Construction Phase 1. The Plan of Finance shall, among other things, detail provisions for City and third-party funding of the Project, including development partners, sponsors, and donors. The Plan of Finance shall be approved by both the City Council and Society as part of the Project approvals. The Parties will ultimately rely on the Plan of Finance as a basis for the Management Operating Agreement that the Parties intend to enter into prior to Project construction.
Plan of Finance. 4.1 Facility Costing Winter 23 1.4 Society TBD (design firm) Xxxxxx-Xxxx Society 4.2 Capital Campaign Summer 22-Fall 26 3.1 Society Society 4.3 Updated Operating Pro Forma Winter 23 1.4, 3.1 Society RS&S Society
Plan of Finance. The District shall utilize all express and implied authority granted by the Act, the City PID Application Guidelines, and the Formation Resolution to implement the DGP and the Plan of Finance. In doing so, the Parties intend for the District to spend any District Special Levy revenues received in accordance with the DGP and the Plan of Finance and not unnecessarily accumulate District Special Levy revenues unless otherwise contemplated by this Agreement. Without the express written consent of the Developer, which consent may be withheld at the Developer’s sole and absolute consent, the District shall not levy any property tax or charge other than the District Special Levy.
Plan of Finance. The Owner intends to finance the costs of the Project through funds received from the City of Fredericksburg in the amounts and at the times required to meet the projected needs for the Project. The Parties recognize and acknowledge that financing of the Project depends on the sale of general obligation bonds by the City of Fredericksburg. This Agreement is contingent on the appropriation of funds by the City Council of the City of Fredericksburg. The School Board’s obligation under this Agreement will automatically terminate if it does not receive contributions from the City of Fredericksburg necessary to completely fund the Project.
