Public Infrastructure funding through PID Bonds Sample Clauses

Public Infrastructure funding through PID Bonds. The Owner will design, construct, and install the Public Infrastructure using funds advanced by Owner or the City will utilize lawfully available funds from PID Bond proceeds or Assessments for such construction; and the City will thereafter acquire the Public Infrastructure and reimburse Owner for any advances or, if PID Bond proceeds are available, the City will pay the estimated costs for the construction of Public Infrastructure using the proceeds of PID Bonds issued by the City and secured solely by special assessments levied on Property within the PID. However, this design, construction and installation in no way affects the rights of the City to determine and enforce the Governing Regulations, including but not limited to specifications as well as the inspection process. After inspection and acceptance, the City shall own and maintain all of the Public Infrastructure. The Public Infrastructure to be funded with Assessments and/or proceeds of PID Bonds may consist of any projects authorized by the PID Act.
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