Assessment Revenue definition
Examples of Assessment Revenue in a sentence
While any Bonds are Outstanding, the County, by agreement with the City, may collect Major Improvement Area Assessment Revenue on the City’s behalf.
After the issuance and delivery of PID Bonds for the PID Projects, the City shall bill, collect, and immediately deposit all Assessment Revenue in the manner set forth in the Bond Indenture.
If the County, whether acting by and through its Tax Office or otherwise, presents or otherwise tenders to the Trustee such collected Major Improvement Area Assessment Revenue for deposit on the City’s behalf, the Trustee shall accept such Major Improvement Area Assessment Revenue and deposit the same into the MIA Project Collection Fund.
Assessment Revenue generated from the levy of an Assessment, including the collection of Annual Installment, from one Parcel of Assessed Property may not be applied against the obligation of an Assessment, levied against another Parcel of Assessed Property, including an Annual Installment.
Each PID Reimbursement Fund so created and established shall consist solely of the Assessment Revenue authorized by and collected pursuant to the applicable Assessment Ordinance.