TIF Bonds. The TIF Bonds shall have been transferred to the Company.
TIF Bonds. At the earliest practical time, but not later than 30 days after the City’s acceptance of the Certificate of Substantial Completion, as determined in the City’s reasonable discretion exercised on the basis of sound financial and economic principles, the City shall use its best efforts to issue or cause to be issued TIF Bonds in an amount sufficient to refund all of the outstanding TIF Notes.
TIF Bonds. The net proceeds of the TIF Bonds shall be a source of funds, to the extent permissible by law, for the payment of Public Party Costs; provided that the net proceeds of the TIF Bonds may be used to repay the Urban Redevelopment Loan.
TIF Bonds. The Public Parties will in good faith jointly determine in a timely manner (i) which Public Party or other entity will issue the TIF Bonds or other bonds, (ii) the amount of each issuance of TIF Bonds or other bonds, (iii) the time of the issuance of TIF Bonds or other bonds, and (iv) other relevant issues with respect to the TIF Bonds or other bonds. Notwithstanding the foregoing, neither Public Party will be obligated to issue TIF Bonds which are not fiscally prudent or which are not (or will not) be supported by project revenues. The Public Parties shall each severally guarantee, or be responsible in the aggregate for, repayment of 50% of TIF Bonds or any other bonds, as jointly determined, issued to pay Public Party Costs, but not for bonds issued to finance any one Public Party’s obligations under Section 3.2 hereunder or the Contract Documents. The City and the County shall cooperate with each other in good faith in connection with the resolution of all matters relating to the TIF Bonds or other bonds and TIF Revenues not specifically addressed herein, including without limitation the issuance and administration thereof. The Public Parties acknowledge that TIF Revenues may be pledged to support payment of debt service for any TIF Bonds, but agree to mutually consider implementation of such pledges of TIF Revenues so as to accommodate further pledges of TIF Revenues in support of supplemental issuances of TIF Bonds (if fiscally prudent and if the TIF Bonds will be adequately supported by project revenue).
TIF Bonds. The City anticipates the issuance of its full faith and credit TIF temporary notes to provide interim financing for the City Project until completion of the Developer Project. The City also anticipates the issuance of the TIF Bonds to permanently finance the City Project Costs of the City Project. Such TIF Bonds shall be issued with a final stated maturity to match the final permitted installment of tax increment for the TIF Project Area pursuant to the TIF Act.
TIF Bonds. The Commissioner of DOH agrees that upon the issuance of a Certificate pursuant to Section 7.01, it will, upon the request of the TIF Lender (or any holder of the City Note) or any guarantor of the TIF Loan, recommend that the City Council approve an ordinance or ordinances authorizing the issuance of TIF Bonds in an amount which, in the opinion of the Comptroller, is marketable under the then current market conditions; provided, however, that if, in the opinion of the Comptroller, there is an insufficient market for such TIF Bonds, or the net proceeds from such issuance would reasonably be expected to be less than adequate to fully repay the City Note and all costs of issuance (including, but not limited to bond counsel fees, underwriters’ fees and consultants’ fees), or if the issuance of such TIF Bonds would adversely affect the City's credit rating or in any other way adversely affect City finances, such official will not be required to recommend approval of such ordinance(s). The Developer will cooperate with the City in the issuance of TIF Bonds, as provided in Section 8.05 hereof.
TIF Bonds. (a) The City declares an intent to issue full faith and credit tax increment financing bonds to pay TIF Eligible Costs up to a maximum of $6,300,000 (the “TIF Bonds”), of which a maximum of $5,993,900 net proceeds will be utilized to finance the Internal Infrastructure Improvements (the “Internal Infrastructure Improvements TIF Bonds”). Any net proceeds generated by TIF Bonds issued in excess of $5,993,900 may be utilized to finance all or a portion of the 00xx Xxxxxx Improvements. TIF Bonds will only be issued upon the full satisfaction of each of the following requirements:
TIF Bonds. The City agrees to issue TIF Bonds, subject to the provisions and restrictions of the TIF Act, in a principal amount to provide net proceeds of not to exceed $2,500,000 for payment of Public Infrastructure Improvements and Preliminary Expenditures that are eligible “redevelopment project costs” as said term is defined in the TIF Act. Prior to the issuance of the TIF Bonds, the Developer shall deliver to the City (1) the executed Developer Guaranty, (2) an opinion of counsel to the Developer that the Developer Guaranty has been validly authorized, duly executed and is enforceable against the Developer and (3) a resolution of the members of Developer approving the Developer Guaranty. Until the Conditions Precedent have been satisfied, the City and the Developer shall each be responsible for payment of their respective Preliminary Expenditures.
TIF Bonds. (a) The City declares an intent to issue full faith and credit tax increment financing bonds to pay TIF Eligible Costs up to a maximum of $1,400,000 (the “TIF Bonds”), of which a maximum of $725,000 net proceeds will be utilized to finance the costs of a lift station, sanitary sewer infrastructure, stormwater infrastructure, and water infrastructure for the Developer Project and the Trailhead Parking (the “Developer Project TIF Bond Proceeds”). The City, in its sole discretion, may issue TIF Bonds to generate up to $625,000 in additional net proceeds to be utilized to finance any portion of the City Improvements (the “City Improvements TIF Bond Proceeds”). TIF Bonds will only be issued upon the full satisfaction of each of the following requirements:
TIF Bonds. The Town shall use cause the issuance of the TIF Bonds in accordance with the terms and conditions of Exhibit B, including, without limitation, that ARC shall execute and deliver to Developer the Taxpayer Agreement. ARC shall pledge the Increment to the TIF Bonds. The Bond Proceeds shall be provided to Developer for the purposes of constructing and completing the Public Improvements.
