Taxing Entity Agreements Sample Clauses
A Taxing Entity Agreements clause defines the obligations and procedures related to agreements with governmental bodies that have the authority to levy taxes, such as cities, counties, or school districts. This clause typically outlines how the parties will cooperate in negotiating, entering into, or complying with such agreements, and may specify who bears responsibility for payments or compliance. Its core function is to ensure that all parties are aligned in managing tax-related obligations and benefits, thereby reducing the risk of disputes or unexpected liabilities arising from interactions with taxing authorities.
Taxing Entity Agreements. The Authority has entered into the Taxing Entity Agreements with each of the Taxing Entities pursuant to C.R.S. § 31-25-107(9.5). Pursuant to the Taxing Entity Agreements, each of the Taxing Entities has agreed to allocate some or all of its portion of the Property Tax TIF to the Authority pursuant to the Urban Renewal Plan in support of Developer’s project. The Authority shall establish separate accounts for and make all payments of TIF Revenue, but not Pledged Revenues, required to be made to Taxing Entities pursuant to the Taxing Entity Agreements. Developer has reviewed each of the Taxing Entity Agreements and agrees to take no action that would be inconsistent with any of the Taxing Entity Agreements or would cause the Authority to be in breach of any of the Taxing Entity Agreements.
Taxing Entity Agreements. The Authority has entered into the Taxing Entity Agreements with each of the Taxing Entities pursuant to C.R.S. § 31-25-107(9.5). Pursuant to the Taxing Entity Agreements, each of the Taxing Entities has agreed to allocate some or all of its portion of the Property Tax TIF to the Authority pursuant to the Urban Renewal Plan in support of Developer’s project. The Authority shall establish separate accounts for and make all payments of TIF Revenue, but not Pledged Revenues, required to be made to Taxing Entities pursuant to the Taxing Entity Agreements. Developer has reviewed each of the Taxing Entity Agreements and agrees to take no action that would be inconsistent with any of the Taxing Entity Agreements or would cause the Authority to be in breach of any of the Taxing Entity Agreements. Costs associated with Developer’s compliance with each of the Taxing Entity Agreements shall be included in separate line items on Exhibit B.