County Increment definition
Examples of County Increment in a sentence
Pursuant to the Hays County Reinvestment Zone Policy adopted on February 7, 2017, no more than ten percent of the County Increment will be used for the payment of administrative, legal, consulting, or other professional expenses, except engineering and architectural fees directly related to the specific projects in which the County will participate.
Pursuant to the Interlocal Agreement, the County has committed to pledge the County Increment Contribution to YRC.
This Agreement applies only to the Retained Town Property Tax Increment and the Town Sales Tax Increment County Increment.
The County recognizes and agrees that in reliance on this Agreement and in accordance with the provisions of §31-25-109(12) of the Act, the adoption and approval of the Plan may include an irrevocable pledge of all of the Property Tax Increment Revenues, including the County Increment, to pay the Authority’s Bonds (if any are issued) and other financial obligations in connection with the Urban Renewal Project.
Company acknowledges that, to issue Bonds in an amount that will generate Available Bond Proceeds of not less than $1,950,000.00, YRC has to receive, at a minimum and from sources other than the County Increment Contribution, the annual amounts set forth on Schedule I to this Exhibit.
Code §36-7-12-24 and recommending the issuance of the Bonds; (ii) the County RDC has adopted a resolution pursuant to which it has pledged the County Increment Contribution to YRC; and (iii) YRC has adopted a resolution pursuant to which it has pledged the Pledged Increment to the payment of Bond Debt Service.
In the event the Authority is unable to obtain this Affordable Housing provision in the agreement, the County Increment Revenues specified in Section 3.1 shall be reduced to fifty percent (50%) of the County Increment.
The Parties agree that the creation, perfection, enforcement and priority of the pledge of the Property Tax Increment Revenues as provided herein shall be governed by §▇▇-▇▇-▇▇▇, C.R.S. The lien of such pledge on the Property Tax Increment Revenues shall have priority over any of all other obligations and liabilities of the Parties with respect to the County Increment Revenues.
Company acknowledges and agrees that: (i) any Property Increment in excess of the Projected Property Increment; and (ii) any amount of the County Increment Contribution remaining after application of the Pledged Increment to the payment of Bond Debt Service; shall belong solely to YRC, for use as YRC deems to be appropriate.
Pursuant to the ▇▇▇▇ County Reinvestment Zone Policy adopted on February 7, 2017, no more than ten percent of the County Increment will be used for the payment of administrative, legal, consulting, or other professional expenses, except engineering and architectural fees directly related to the specific projects in which the County will participate.