Common use of Reimbursement Agreements Clause in Contracts

Reimbursement Agreements. Owner may, from time to time, desire to finance or construct certain CIP Improvements (or portions thereof) and be reimbursed out of Impact Fees in accordance with the Administrative Manual. A separate Impact Fee Reimbursement Agreement shall be entered into for each CIP Improvement to be built or financed by Owner. Each Reimbursement Agreement must be substantially in the form required by the Administrative Manual and must be approved by the City Council before construction starts. With respect to each Reimbursement Agreement, Owner hereby agrees that, as provided in the Administrative Manual, reimbursement payments by the City shall be made only out of the appropriate trust account as specified in the Administrative Manual and only to the extent that funds are available, and the obligation to reimburse Owner are not general obligations of the City.