Common use of TDD Bond Fund Clause in Contracts

TDD Bond Fund. If TDD Bonds are issued by the City, a TDD Bond Fund shall be created and administered by the City or its designee and will be utilized solely to repay the TDD Bonds and amounts, if any, required to pay rebate amounts. The specifics of the issuance and repayment of the TDD Bonds shall be in accordance with the TDD Bond Documents, to be approved by City ordinance, in accordance with this Agreement. In no event, except by mutual agreement between the parties hereto, shall the TDD Bond Documents be inconsistent with this Agreement. Upon issuance of the TDD Bonds, the Net TDD Bond Proceeds shall be disbursed to the Developer by the City or Bond Trustee for the purpose of funding Eligible Expenses in accordance with the terms of this Agreement and the TDD Bond Documents.

TDD Bond Fund. If TDD Bonds are issued by the City, a A TDD Bond Fund shall be created and administered by the City or its designee and will be utilized solely to repay the TDD Bonds and amounts, if any, required to pay rebate amounts. The specifics of the issuance and repayment of the TDD Bonds shall be in accordance with the TDD Bond Documents, to be approved by City ordinance, in accordance with this Agreement. In no event, except by mutual agreement between the parties hereto, shall the TDD Bond Documents be inconsistent with this Agreement. Upon issuance of the TDD Bonds, the Net TDD Bond Proceeds shall be disbursed to the Developer by the City or Bond Trustee for the purpose of funding Eligible Expenses in accordance with the terms of this Agreement and the TDD Bond Documents.