Common use of Pursuant to Neb Clause in Contracts

Pursuant to Neb. Rev. Stat. §18-2147, et seq., the Redevelopment Plan contains a provision which provides that any ad valorem tax levied upon real property in the Xxxxxxx Housing Redevelopment Project for the benefit of any public body shall be divided, for a period not to exceed fifteen (15) years after the effective date for the division of taxes (“Effective Date of the Ad Valorem Tax Provision”) as identified herein as follows: • That portion of the ad valorem tax which is produced by the levy at the rate fixed each year by or for each such public body upon the Xxxxxxx Housing Redevelopment Project Area valuation as of January 1 of the year prior to the year that the ad valorem taxes are to be divided shall be paid into the funds of each such public body in the same proportion as are all other taxes collected by or for the body; and • That portion of the ad valorem tax on real property as provided in the redevelopment contract or bond resolution in the Xxxxxxx Housing Redevelopment Project Area in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the authority to be used solely to pay the principle and the interest on, and any premiums due in connection with the bonds of, loans, notes, or advances of money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such authority (“TIF Indebtedness”) for financing or refinancing in whole or in part, the Xxxxxxx Housing Redevelopment Project. When such bonds, loans, notes, advances of money, or indebtedness, including interest and premiums due, have been paid, the authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon taxable real property in the Redevelopment Project Area shall be paid into the funds of the respective public bodies. Said provision is hereinafter referred to as the “Ad Valorem Tax Provision” or the “Tax Increment Provision.”

Pursuant to Neb. Rev. Stat. §18-2147, et seq., the Redevelopment Plan contains a provision which provides that any ad valorem tax levied upon real property in the Xxxxxxx Housing Redevelopment Antelope Tower Project for the benefit of any public body shall be divided, for a period not to exceed fifteen (15) years after the effective date for the division of taxes (“Effective Date of the Ad Valorem Tax Provision”) as identified herein as follows: • That portion of the ad valorem tax which is produced by the levy at the rate fixed each year by or for each such public body upon the Xxxxxxx Housing Antelope Tower Redevelopment Project Area valuation as of January 1 of the year prior to the year that the ad valorem taxes are to be divided shall be paid into the funds of each such public body in the same proportion as are all other taxes collected by or for the body; and • That portion of the ad valorem tax on real property as provided in the redevelopment contract or bond resolution in the Xxxxxxx Housing Antelope Tower Redevelopment Project Area in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the authority to be used solely to pay the principle and the interest on, and any premiums due in connection with the bonds of, loans, notes, or advances of money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such authority (“TIF Indebtedness”) for financing or refinancing in whole or in part, the Xxxxxxx Housing Redevelopment Antelope Tower Project. When such bonds, loans, notes, advances of money, or indebtedness, including interest and premiums due, have been paid, the authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon taxable real property in the Redevelopment Project Area shall be paid into the funds of the respective public bodies. Said provision is hereinafter referred to as the “Ad Valorem Tax Provision” or the “Tax Increment Provision.”

Pursuant to Neb. Rev. Stat. §18-2147, et seq., the Redevelopment Plan contains a provision which provides that any ad valorem tax levied upon real property in the Xxxxxxx Housing Redevelopment 48th & Leighton Phase 1 Project for the benefit of any public body shall be divided, for a period not to exceed fifteen (15) years after the effective date for the division of taxes (“Effective Date of the Ad Valorem Tax Provision”) as identified herein as follows: • That portion of the ad valorem tax which is produced by the levy at the rate fixed each year by or for each such public body upon the Xxxxxxx Housing 48th & Leighton Phase 1 Redevelopment Project Area valuation as of January 1 of the year prior to the year that the ad valorem taxes are to be divided shall be paid into the funds of each such public body in the same proportion as are all other taxes collected by or for the body; and • That portion of the ad valorem tax on real property as provided in the redevelopment contract or bond resolution in the Xxxxxxx Housing 48th & Leighton Phase 1 Redevelopment Project Area in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the authority to be used solely to pay the principle and the interest on, and any premiums due in connection with the bonds of, loans, notes, or advances of money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such authority (“TIF Indebtedness”) for financing or refinancing in whole or in part, the Xxxxxxx Housing Redevelopment 48th & Leighton Phase 1 Project. When such bonds, loans, notes, advances of money, or indebtedness, including interest and premiums due, have been paid, the authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon taxable real property in the Redevelopment Project Area shall be paid into the funds of the respective public bodies. Said provision is hereinafter referred to as the (“Ad Valorem Tax Provision” ”) or the (“Tax Increment Provision.”) I. The Redeveloper is willing to enter into this agreement provided TIF Proceeds (defined below) are available to be used to pay for or reimburse the Redeveloper for Redeveloper TIF Bond Priority Expenses (defined below) which are more particularly described in Section 503 below and summarized on Exhibit C, Sources and Uses of TIF. In order to pay for or reimburse Redeveloper for Redeveloper TIF Bond Priority Expenses, the City intends to issue tax increment financing indebtedness (“TIF Indebtedness”) to be repaid with the tax increment revenues generated under the Ad Valorem Tax Provision. J. The parties mutually agree that the redevelopment of the Project Site is in the vital and best interest of the City and is in furtherance of the health, safety, and welfare of its residents, and is in accordance with the public purposes and provisions of applicable laws and requirements under which the Redevelopment Plan has been undertaken.

Pursuant to Neb. Rev. Stat. §18-2147, et seq., the Redevelopment Plan contains a provision which provides that any ad valorem tax levied upon real property in the Xxxxxxx Housing Redevelopment 9th and O Project for the benefit of any public body shall be divided, for a period not to exceed fifteen (15) years after the effective date for the division of taxes (“"Effective Date of the Ad Valorem Tax Provision”") as identified herein as follows: • That portion of the ad valorem tax which is produced by the levy at the rate fixed each year by or for each such public body upon the Xxxxxxx Housing 9th and O Redevelopment Project Area valuation as of January 1 of the year prior to the year that the ad valorem taxes are to be divided shall be paid into the funds of each such public body in the same proportion as are all other taxes collected by or for the body; and • That portion of the ad valorem tax on real property as provided in the redevelopment contract or bond resolution ordinance in the Xxxxxxx Housing 9th and O Redevelopment Project Area in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the authority to be used solely to pay the principle principal and the interest on, and any premiums due in connection with the bonds of, loans, notes, or advances of money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such authority (“"TIF Indebtedness”") for financing or refinancing in whole or in part, the Xxxxxxx Housing Redevelopment 9th and O Project. When such bonds, loans, notes, advances of money, or indebtedness, including interest and premiums due, have been paid, the authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon taxable real property in the Redevelopment Project Area shall be paid into the funds of the respective public bodies. Said provision is hereinafter referred to as the “"Ad Valorem Tax Provision” " or the “"Tax Increment Provision.”"

Pursuant to Neb. Rev. Stat. §18-2147, et seq., the Redevelopment Plan contains a provision which provides that any ad valorem tax levied upon real property in the Xxxxxxx Housing Redevelopment 1222 P Street Project for the benefit of any public body shall be divided, for a period not to exceed fifteen (15) years after the effective date for the division of taxes (“Effective Date of the Ad Valorem Tax Provision”) as identified herein as follows: • That portion of the ad valorem tax which is produced by the levy at the rate fixed each year by or for each such public body upon the Xxxxxxx Housing 1222 P Street Redevelopment Project Area valuation as of January 1 of the year prior to the year that the ad valorem taxes are to be divided shall be paid into the funds of each such public body in the same proportion as are all other taxes collected by or for the body; and • That portion of the ad valorem tax on real property as provided in the redevelopment contract or bond resolution in the Xxxxxxx Housing 1222 P Street Redevelopment Project Area in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the authority to be used solely to pay the principle and the interest on, and any premiums due in connection with the bonds of, loans, notes, or advances of money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such authority (“TIF Indebtedness”) for financing or refinancing in whole or in part, the Xxxxxxx Housing Redevelopment 1222 P Street Project. When such bonds, loans, notes, advances of money, or indebtedness, including interest and premiums due, have been paid, the authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon taxable real property in the Redevelopment Project Area shall be paid into the funds of the respective public bodies. Said provision is hereinafter referred to as the (“Ad Valorem Tax Provision” ”) or the (“Tax Increment Provision.”)

Pursuant to Neb. Rev. Stat. §18-2147, et seq., the Redevelopment Plan contains a provision which provides that any ad valorem tax levied upon real property in the Xxxxxxx Housing Redevelopment City Centre Project for the benefit of any public body shall be divided, for a period not to exceed fifteen (15) years after the effective date for the division of taxes (“Effective Date of the Ad Valorem Tax Provision”) as identified herein as follows: • That portion of the ad valorem tax which is produced by the levy at the rate fixed each year by or for each such public body upon the Xxxxxxx Housing City Centre Redevelopment Project Area valuation as of January 1 of the year prior to the year that the ad valorem taxes are to be divided shall be paid into the funds of each such public body in the same proportion as are all other taxes collected by or for the body; and • That portion of the ad valorem tax on real property as provided in the redevelopment contract or bond resolution in the Xxxxxxx Housing City Centre Redevelopment Project Area in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the authority to be used solely to pay the principle and the interest on, and any premiums due in connection with the bonds of, loans, notes, or advances of money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such authority (“TIF Indebtedness”) for financing or refinancing in whole or in part, the Xxxxxxx Housing Redevelopment City Centre Project. When such bonds, loans, notes, advances of money, or indebtedness, including interest and premiums due, have been paid, the authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon taxable real property in the Redevelopment Project Area shall be paid into the funds of the respective public bodies. Said provision is hereinafter referred to as the “Ad Valorem Tax Provision” or the “Tax Increment Provision.”

Pursuant to Neb. Rev. Stat. §18-2147, et seq., the Redevelopment Plan contains a provision which provides that any ad valorem tax levied upon real property in the Xxxxxxx Housing Redevelopment 9th and O Project for the benefit of any public body shall be divided, for a period not to exceed fifteen (15) years after the effective date for the division of taxes (“Effective Date of the Ad Valorem Tax Provision”) as identified herein as follows: • That portion of the ad valorem tax which is produced by the levy at the rate fixed each year by or for each such public body upon the Xxxxxxx Housing 9th and O Redevelopment Project Area valuation as of January 1 of the year prior to the year that the ad valorem taxes are to be divided shall be paid into the funds of each such public body in the same proportion as are all other taxes collected by or for the body; and • That portion of the ad valorem tax on real property as provided in the redevelopment contract or bond resolution in the Xxxxxxx Housing 9th and O Redevelopment Project Area in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the authority to be used solely to pay the principle and the interest on, and any premiums due in connection with the bonds of, loans, notes, or advances of money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such authority (“TIF Indebtedness”) for financing or refinancing in whole or in part, the Xxxxxxx Housing Redevelopment 9th and O Project. When such bonds, loans, notes, advances of money, or indebtedness, including interest and premiums due, have been paid, the authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon taxable real property in the Redevelopment Project Area shall be paid into the funds of the respective public bodies. Said provision is hereinafter referred to as the “Ad Valorem Tax Provision” or the “Tax Increment Provision.”