Examples of District Bond Trustee in a sentence
So long as the District Bonds are outstanding, the Developer covenants to cause all Add-On PIF Revenues to be remitted to the District Bond Trustee and such Add-On PIF Revenues shall be pledged to the payment of the District Bonds.
The District Bond Documents shall provide that any requisition remitted to the District Bond Trustee shall simultaneously be remitted to the City Manager, or the City Manager’s designee.
The District, the City and the Authority hereby agree pursuant to Section 31-25-107(11) C.R.S. that any such excess Sales Tax Increment Revenues shall be released from the lien of the District Bond Documents and remitted by the District Bond Trustee to the City.
The District Bond Trustee shall keep a record of the sources of the Pledged Revenue that are used to fund and maintain the Supplemental Reserve Fund, if any.
The District covenants to deposit any Add-On PIF Revenues released from the lien of the District Bond Documents and remitted by the District Bond Trustee to the District pursuant to Section 3.2 hereof into the Foothills Mall Fund.
Upon the earlier of approval of such documentation or expiration of the ten (10) business day period, the District Bond Trustee will make payments of Eligible Costs as set forth in such requisition request from moneys on deposit in the Project Fund.
Each payment request will be submitted to the applicable District representative and the District Bond Trustee for review within ten (10) business days.
Upon termination of the Supplemental Reserve Fund, the moneys on deposit in the Supplemental Reserve Fund shall be remitted by the District Bond Trustee based on the source of Pledged Revenues used to fund and maintain the Supplemental Reserve Fund in accordance with the provisions set forth in subparagraph (b)(ii) above.
The District further covenants that so long as any District Bonds remain outstanding, that the District will remit all District Pledged Revenues to the District Bond Trustee for such outstanding District Bonds.
Accordingly, the Authority’s obligation to remit the Authority Pledged Revenue to the District Bond Trustee in accordance with the provisions of this agreement does not require electoral authorization and is not subject to annual appropriation.