Common Contracts
1 similar Escrow Agreement contracts
TOWN COUNCIL AGENDA COMMUNICATIONSEscrow Agreement • August 26th, 2022
$74,000,000 in project funds. The 2022 Bonds are currently anticipated to net $51,000,000 in project funds. Pursuant to the Development Agreement, the Town has committed to an increase in the Credit PIF to 2.75%. Based on the increased Credit PIF, together with the District’s pledge of five (5) mills and the 2.5% Add- On PIF, approximately $60,600,000 is anticipated to be available for the project, leaving a deficit of approximately $13,400,000 (the “Bond Proceeds Shortfall”).
