Common use of Special and Limited Obligation Clause in Contracts

Special and Limited Obligation. This Agreement shall constitute special and limited obligation of the City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing power are pledged.

Appears in 3 contracts

Samples: Development Agreement, Development Agreement, Development Agreement

AutoNDA by SimpleDocs

Special and Limited Obligation. This Agreement shall constitute special and limited obligation of the City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing power are pledged. The City pledges to the payment of its obligations hereunder only the applicable amount of the Incremental Property Taxes, if, as and when received, and not otherwise.

Appears in 2 contracts

Samples: Redevelopment Agreement, Redevelopment Agreement

Special and Limited Obligation. This Agreement shall constitute a special and limited obligation of the City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing power are pledged.

Appears in 2 contracts

Samples: Development Incentive Agreement, Improvement and Reimbursement Agreement

Special and Limited Obligation. This Agreement shall constitute special and limited obligation of the City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing power are pledged. The City pledges to the payment of its obligations hereunder only such amount of the Incremental Property Taxes attributable to the Private Development in the Development Area as is set forth in Section 3.1(a), (b) and (c) hereof, if, as and when received, and not otherwise.

Appears in 1 contract

Samples: Redevelopment Agreement

Special and Limited Obligation. This Agreement shall constitute special and limited obligation of the City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing power are pledged. The City pledges to the payment of its obligations hereunder only such amount of the Incremental Property Taxes attributable to the Private Development in the Development Area as is set forth in Section 3.1(a) hereof, if, as and when received, and not otherwise.

Appears in 1 contract

Samples: Redevelopment Agreement

Special and Limited Obligation. This Agreement shall will constitute special and limited obligation of the City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing power are pledged.

Appears in 1 contract

Samples: Development Agreement

Special and Limited Obligation. This Agreement shall constitute a special and limited obligation of the City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing power are pledged. The City pledges to the payment of its obligations hereunder only such amount of the Incremental Property Taxes as is set forth in Section 3.1 hereof, if, as and when received, and not otherwise.

Appears in 1 contract

Samples: Redevelopment Agreement

AutoNDA by SimpleDocs

Special and Limited Obligation. This Agreement shall constitute agreement constitutes a special and limited obligation of the City according to the terms hereofCity. This Agreement shall never agreement does not constitute a general obligation of the City to which its credit, resources resources, or general taxing power are pledged. The City pledges to the payment of its obligations under ARTICLE 9 only of such amount of the Tax Allocation Increment if, as, and when received and not otherwise.

Appears in 1 contract

Samples: Development Agreement

Special and Limited Obligation. This Agreement shall constitute a special and limited obligation of the City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing power are pledged.

Appears in 1 contract

Samples: Development Agreement

Special and Limited Obligation. This Agreement shall constitute a special and limited obligation of the City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing power are pledged. The City pledges to the payment of its obligations under Section 4.1 hereof only such amount of the Incremental Property Taxes as is set forth in Section 4.1 hereof, if, as and when received, and not otherwise.

Appears in 1 contract

Samples: Redevelopment Agreement

Special and Limited Obligation. This Agreement shall constitute special and limited obligation of the the-City according to the terms hereof. This Agreement shall never constitute a general obligation of the City to which its credit, resources or general taxing trucing power are pledged. The City pledges to . the payment of its obligations hereunder only such percentage of the Incremental ·Property Truces attributable to the Private Development in the Development Area as is set forth in Section 3.l(a) and (b) hereof, if, as and when received, and not otherwise.

Appears in 1 contract

Samples: www2.urbanaillinois.us

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!