District Debt Service Mill Levy definition

District Debt Service Mill Levy means a property tax levy imposed by the District in a minimum amount of twenty-five (25) xxxxx levied by the District on the taxable property of the District. The District Debt Service Mill Levy rate may be adjusted as set forth in the Service Plan to take into account legislative or constitutionally imposed adjustments in assessed values or their method of calculation so that, to the extent possible, the revenue produced by such District Debt Service Mill Levy is neither diminished nor enhanced as a result of such changes.
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District Debt Service Mill Levy means a property tax levy of fifty (50) mills levied by the District on the taxable property of the District. The District Debt Service Mill Levy rate may be adjusted as set forth in the Service Plan to take into account legislative or constitutionallyimposed adjustments in assessed values or their method of calculation so that, to the extent possible, the revenue produced by such District Debt Service Mill Levy is neither diminished nor enhanced as a result of such changes. The District Debt Service Mill Levy shall be imposed only so long as there are outstanding District Bonds.
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District Debt Service Mill Levy shall have the meaning set forth in the Indentures.
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Examples of District Debt Service Mill Levy in a sentence

  • The District shall pledge the District Debt Service Mill Levy Revenue to payment of the District Bonds.

  • The Authority hereby irrevocably pledges any amounts received from the District Debt Service Mill Levy and the District Operating Revenue to the District.

  • The occurrence and continuation of an Event of Default will not affect the obligation of the Authority or the District to collect and remit Pledged Revenues or the obligation of the Authority to remit the District Debt Service Mill Levy Revenue or the District Operating Revenue to the District in accordance with the terms and provisions of this Agreement.

  • The combined Debt Service Mill Levy, Operations and Maintenance Mill Levy, Overlay District Debt Service Mill Levy and aggregate mill levy of any overlapping District shall under no circumstances exceed the Maximum Mill Levy.

  • The Maximum Mill Levy shall be the maximum mill levy each District is permitted to impose upon the taxable property within its boundaries and shall be Eighty (80) Mills minus the Overlay District Debt Service Mill Levy.

  • The combined Debt Service Mill Levy, Operations and Maintenance Mill Levy and Overlay District Debt Service Mill Levy shall under no circumstances exceed the Maximum Mill Levy described in Section VI.C. In no event shall the Debt Service Mill Levy exceed the Maximum Mill Levy as described in Section VI.C. herein.

  • Notwithstanding expiration of the time or times that the Pledged Property Tax Increment Revenue may be collected pursuant to the Act, the District agrees that the full amount of the District Debt Service Mill Levy shall at all times remain pledged to the payment of any outstanding Bonds to the extent required by the District Bond Documents or to the payment of any outstanding District Bonds to the extent required by the District Bond Documents.

  • All Debt is projected to be repaid by the imposition of a Debt Service Mill Levy not to exceed Eighty (80) Mills minus the Overlay District Debt Service Mill Levy, which is in turn not to exceed Ten (10) Mills, subject to adjustment as set forth in the service plan of the Overlay District.

  • The District covenants to impose the District Debt Service Mill Levy so that such District Debt Service Mill Levy will be in effect no later than January 1, 2014, and the District covenants to continue to impose the District Debt Service Mill Levy for so long as any District Bonds remain outstanding.

  • As further detailed in Section VI.C. herein, the aggregate of theDebt Service Mill Levy, Operations and Maintenance Mill Levy and Overlay District Debt Service Mill Levy shall not exceed the Maximum Mill Levy.


More Definitions of District Debt Service Mill Levy

District Debt Service Mill Levy means that certain ad valorem property tax mill levy imposed by the District, subject to the limitations set forth in the District Operating Plan and the provisions of the last paragraph of Section 3.02(b) hereof, which levy is pledged to and imposed for purposes of paying the Bond Requirements and Eligible Costs, subject to the limitations set forth in the Operating Plan.
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District Debt Service Mill Levy means a property tax levy of a minimum of 30 xxxxx which will be levied by the District on the taxable property within the District; provided, however, that such rate may be adjusted to take into account legislative or constitutionally imposed adjustments in assessed values or their method of calculation so that, to the extent possible, the revenue produced by such xxxx is neither diminished nor enhanced as a result of such changes. The District Debt Service Mill Levy shall not be less than 30 xxxxx until the District Bonds are repaid in full or defeased, unless the District obtains approval of a lower amount from the City, which determination shall be in the discretion of the City.
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District Debt Service Mill Levy means that certain ad valorem property tax mill levy imposed by the District (subject to the limitations set forth in the Service Plan), which levy is pledged to and imposed for purposes of paying debt, which may include the Bonds.
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District Debt Service Mill Levy means the property tax mill levy to be levied by the District pursuant to the District Bond Documents on the taxable property within the District for the purpose of paying the District’s debt.
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District Debt Service Mill Levy means an ad valorem mill levy (a mill being equal to 1/10 of 1 cent) imposed upon all taxable property of the District each year at a rate and in the amount of fifty (50) xxxxx, net of the costs of collection and any tax refunds or abatements authorized by or on behalf of El Paso County, subject to the following adjustments:
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District Debt Service Mill Levy means a property tax levy which will be levied by the District on the taxable property of the District. The District Debt Service Mill Levy allowable under the Service Plan shall not exceed fifty (50) mills, and the District Debt Service Mill Levy included in District Pledged Revenue under this Agreement shall not be less than forty (40) mills, unless a lower mill levy is approved by the Town; provided, however, that such rates may be adjusted to take into account legislative or constitutionally imposed adjustments in assessed values or their method of calculation so that, to the extent possible, the revenue produced by such District Debt Service Mill Levy is neither diminished nor enhanced as a result of such changes.
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Related to District Debt Service Mill Levy

  • Total Debt Service means the sum of (i) scheduled or other required payments of principal on Indebtedness, and (ii) Interest Expense, in each case for such period.

  • Debt Service means, with respect to any particular period of time, the scheduled principal and interest payments due under this Agreement and the Note.

  • Annual Debt Service as of any date means the maximum amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries, excluding amortization of debt discounts and deferred financing costs.

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges paid or required to be paid for such Measurement Period, plus (b) principal payments made or required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations but including, without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

  • Average Annual Debt Service means, at the time of calculation, the sum of the Annual Debt Service for the remaining years of the loan to the last scheduled maturity of the loan divided by the number of those years.

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Aggregate Debt Service means, with respect to any particular period of time, the sum of (a) the Debt Service, (b) the Mortgage Debt Service and (c) the Other Mezzanine Debt Service.

  • Debt Service Ratio means for any period the Modified Cash NOI for all consolidated and unconsolidated properties of the Operating Partnership based on its share (determined on a proportional ownership basis based upon the Operating Partnership’s ownership (direct or indirect) in each of its Subsidiaries and Joint Ventures) divided by Debt Service.

  • Consolidated Debt Service means, for any relevant period, the sum (without double counting), determined in accordance with GAAP, of:

  • Pro Forma Debt Service means with respect to the Borrower and the Restricted Subsidiaries, on a consolidated basis, with respect to the next succeeding complete twelve (12) month period following the calculation date, and after giving effect to any Interest Rate Hedge Agreements and Eurodollar Advances, the amount of all (i) scheduled payments of principal on Indebtedness for Money Borrowed for such period (including imputed principal payments with respect to Capitalized Lease Obligations), determined on the basis of the aggregate amount of Indebtedness for Money Borrowed outstanding as of the date of calculation and giving effect to any mandatory reductions in the Commitments and the operation of the other terms of this Agreement (or other instruments or agreements governing Indebtedness for Money Borrowed) during such next succeeding twelve (12) month period, (ii) cash interest payable (including imputed interest with respect to Capitalized Lease Obligations) with respect to Indebtedness for Money Borrowed of such Persons, (iii) fees payable under this Agreement and the other Loan Documents (but specifically excluding fees paid during previous periods but amortized during such period in accordance with GAAP), and (iv) other payments (including fees) payable by such Persons during such period in respect of Indebtedness for Money Borrowed (other than voluntary prepayments under Section 2.7 hereof). For purposes of this definition, where interest payments for the twelve (12) month period immediately succeeding the calculation date are not fixed by way of Interest Rate Hedge Agreements, Eurodollar Advances, or otherwise for the entire period, interest shall be calculated on such Indebtedness for Money Borrowed for periods for which interest payments are not so fixed at the Eurodollar Basis (as determined on the date of calculation and based on the then current adjustment under Section 2.3(f) hereof) for a Eurodollar Advance having an Interest Period of twelve (12) months; provided, however, that if such Eurodollar Basis cannot be determined in the reasonable opinion of the Administrative Agent, such interest shall be calculated using the Base Rate Basis as then in effect.

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • Debt Service Reduction With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction resulting from a Deficient Valuation.

  • Debt Service Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction.

  • Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Loan Group Any of Loan Group 1 or Loan Group 2, as applicable.

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Loan Group 3 The Group 3 Mortgage Loans.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Loan Group 2 The Group 2 Mortgage Loans.

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

  • Loan Group 1 All Mortgage Loans identified as Loan Group 1 Mortgage Loans on the Mortgage Loan Schedule.