Common use of Special Districts Clause in Contracts

Special Districts. Special Taxing Districts may be subject to general obligation indebtedness that is paid by revenues produced from annual tax levies on the taxable property within such districts. Property owners in such districts may be placed at risk for increased mill levies and excessive tax burdens to support the servicing of such debt where circumstances arise resulting in the inability of such a district to discharge such indebtedness without such an increase in mill levies. Purchaser is aware of and understands the debt financing requirements of the authorized general obligation indebtedness of such districts, existing mill levies of such district servicing such indebtedness, and the potential for an increase in such mill levies.

Special Districts. Special Taxing Districts taxing districts may be subject to general obligation indebtedness that is paid by revenues produced from annual tax levies on the taxable property within in such districts. Property owners in such districts may be placed at risk for increased mill levies and excessive tax burdens to support the servicing of such debt where circumstances arise resulting in the inability of such a district is unable to discharge such indebtedness without such an increase in increased mill levies. Purchaser Buyer is aware of and understands advised to investigate the debt financing requirements of the authorized general obligation indebtedness debt of such districts, existing mill levies of such district the districts servicing such indebtedness, indebtedness and the potential for an increase in such mill levies.