Facilities Special Tax Requirement definition

Facilities Special Tax Requirement means the amount necessary in any Fiscal Year to: (i) pay principal and interest on Bonds that are due in the calendar year that begins in such Fiscal Year; (ii) pay periodic costs on the Bonds, including but not limited to, credit enhancement, liquidity support and rebate payments on the Bonds; (iii) replenish reserve funds created for the Bonds under the Indenture to the extent such replenishment has not been included in the computation of the Facilities Special Tax Requirement in a previous Fiscal Year; (iv) cure any delinquencies in the payment of principal or interest on Bonds which have occurred in the prior Fiscal Year; (v) pay Administrative Expenses; and (vi) pay directly for Authorized Expenditures and capital reserves, so long as such levy under this clause (vi) does not increase the Facilities Special Tax levied on Undeveloped Property. The amounts referred to in clauses (i) and (ii) of the definition of Facilities Special Tax Requirement may be reduced in any Fiscal Year by: (a)
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Facilities Special Tax Requirement means the amount necessary in any Fiscal Year (i) to pay principal and interest, including scheduled sinking fund payments, on Bonds, (ii) pay Administrative Expenses that have not been included in the Maintenance Special Tax Requirement for the Fiscal Year, (iii) to create or replenish reserve funds,
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Facilities Special Tax Requirement means the amount necessary in any Fiscal Year (i) to pay principal and interest on Bonds which are due in the calendar year which begins in such Fiscal Year, (ii) to create or replenish reserve funds, (iii) to cure any delinquencies in the payment of principal or interest on Bonds which have occurred in any prior Fiscal Year or (based on delinquencies in the payment of Special Taxes which have already taken place) are expected to occur in the Fiscal Year in which the tax will be collected, (iv) to pay Administrative Expenses, and (v) to pay the costs of Authorized Facilities to be funded directly from Facilities Special Tax proceeds. The amounts referred to in clauses (i) and (ii) of the preceding sentence may be reduced in any Fiscal Year by (i) interest earnings on or surplus balances in funds and accounts for Bonds to the extent that such earnings or balances are available to apply against debt service pursuant to the Indenture, (ii) proceeds from the collection of penalties associated with delinquent Facilities Special Taxes, and (iii) any other revenues available to pay debt service on the Bonds as determined by the Administrator.
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Examples of Facilities Special Tax Requirement in a sentence

  • For each year that any Bonds are outstanding or in which there is a Facilities Special Tax Requirement the Facilities Special Tax shall be levied on all Assessor’s Parcels subject to the Facilities Special Tax.

  • Pursuant to Section D of the Rate of Method of Apportionment, commencing with Fiscal Year 2006-2007 and for each following fiscal year, the Council shall determine the Special Tax Requirement and shall levy the Special Tax on Custom Lot Property and Non-Residential Property until the total Facilities Special Tax levy equals the Facilities Special Tax Requirement.

  • Until the first Fiscal Year in which the Facilities Special Tax Requirement does not include debt service on Subordinate Bonds because such Subordinate Bonds have been fully retired, the Maximum Facilities Special Tax for Parcels in CFD No. 2000-1 that are not Foreclosure Parcels or Partial Prepayment Parcels shall be the Maximum Facilities Special Tax for each Unit as set forth in Attachment 1.

  • Each Fiscal Year, the annual Facilities Special Tax and Services Special Tax shall be levied as follows until the amount of the levy equals the Facilities Special Tax Requirement and Services Special Tax Requirement, respectively, for that Fiscal Year.

  • In the first Fiscal Year in which the Facilities Special Tax Requirement does not include debt service on Subordinate Bonds because such Subordinate Bonds have been fully retired, the Maximum Facilities Special Tax for all Parcels that are not Foreclosure Parcels or Partial Prepayment Parcels shall be reduced by applying the following steps:Step 1a.

  • If additional monies are needed to satisfy the Facilities Special Tax Requirement after the first step has been completed, the Facilities Special Tax shall be levied Proportionately on each Assessor’s Parcel of Final Map Property excluding Association Property at up to 100% of the Maximum Facilities Special Tax for Final Map Property.

  • If additional revenue is needed after the second step has been completed in order to meet the Facilities Special Tax Requirement, the Facilities Maximum Annual Special Tax shall be levied Proportionately on each Parcel of Taxable Property within the CFD, up to 100% of the Facilities Maximum Annual Special Tax for Final Map Property for such Fiscal Year until the amount levied equals the Facilities Special Tax Requirement for the Fiscal Year.

  • Step 5: If additional revenue is needed after Step 4 in order to meet the Facilities Special Tax Requirement, the Facilities Special Tax shall be levied (i) Proportionately on each Parcel of Expected Taxable Property, up to 100% of the Maximum Facilities Special Tax for each Parcel of Expected Taxable Property, and (ii) Proportionately on each Taxable Agency Housing Unit, up to 100% of the Maximum Facilities Special Tax that had been determined for each Taxable Housing Unit pursuant to Section D.4.

  • If additional revenue is needed after Step 1 in order to meet the Facilities Special Tax Requirement after Capitalized Interest has been applied to reduce the Facilities Special Tax Requirement, the Facilities Special Tax shall be levied Proportionately on each Parcel of Undeveloped Property, up to 100% of the Maximum Facilities Special Tax for each Parcel of Undeveloped Property for such Fiscal Year.

  • If additional revenue is needed after the third step in order to meet the Facilities Special Tax Requirement, the Facilities Maximum Annual Special Tax shall be levied Proportionately on each Parcel of Taxable Public Property within the CFD, up to 100% of the Facilities Maximum Annual Special Tax for Final Map Property for such Fiscal Year until the amount levied equals the Facilities Special Tax Requirement for the Fiscal Year.


More Definitions of Facilities Special Tax Requirement

Facilities Special Tax Requirement means the amount necessary in any Fiscal Year to: (i) pay principal and interest on Bonds that are due in the calendar year that begins in such Fiscal Year;
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Facilities Special Tax Requirement means the amount necessary in any Fiscal Year to pay:
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Facilities Special Tax Requirement means that amount of revenue necessary in any Fiscal Year to pay debt service on the Bonds that is due in the calendar year that begins in such Fiscal Year, to create or replenish reserve funds for such Bonds, to cure any delinquencies in the payment of Facilities Special Taxes which have occurred and which have not been or will not be cured pursuant
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Facilities Special Tax Requirement means the amount necessary in any Fiscal Year to: (i) pay principal and interest on Bonds that are due in the calendar year that begins in such Fiscal Year; (ii) pay periodic costs on the Bonds, including but not limited to, credit enhancement, liquidity support and rebate payments on the Bonds, (iii) replenish reserve funds created for the Bonds under the Indenture to the extent such replenishment has not been included in the computation of the Facilities Special Tax Requirement in a previous Fiscal Year; (iv) cure any delinquencies in the payment of principal or interest on Bonds which have occurred in the prior Fiscal Year; (v) pay Administrative Expenses; and (vi) pay directly for Authorized Facilities, so long as such levy under this clause (vi) does not increase the Facilities Special Tax levied on Undeveloped Property. The amounts referred to in clauses (i) and (ii) above may be reduced in any Fiscal Year by: (a) interest earnings on or surplus balances in funds and accounts for the Bonds to the extent that such earnings or balances are available to apply against such costs pursuant to the Indenture; (b) in the sole and absolute discretion of the County, proceeds received by the CFD from the collection of penalties associated with delinquent Facilities Special Taxes; and (c) any other revenues available to pay such costs, each as determined in the discretion of the Administrator.
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Facilities Special Tax Requirement means the amount necessary in any Fiscal Year to: (i) pay principal and interest on Facilities Special Tax Bonds that are due in the calendar year that begins in such Fiscal Year; (ii) pay periodic costs on Facilities Special Tax Bonds, including but not limited to, credit enhancement, liquidity support and rebate payments; (iii) replenish reserve funds created for Facilities Special Tax Bonds under the Indenture to the extent such replenishment has not been included in the computation of the Facilities Special Tax Requirement in a previous Fiscal Year; (iv) cure any delinquencies in the payment of principal or interest on Facilities Special Tax Bonds which have occurred in the prior Fiscal Year; (v) in any Fiscal Year in which there is a Facilities Special Tax levied on one or more Parcels pursuant to Step 1d. in Section F below, pay the fee imposed by the City for levying such Facilities Special Tax on the County tax roll; (vi) pay other obligations described in the Financing Plan; and (vii) pay directly for Authorized Expenditures, so long as such levy under this clause (vii) does not
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Facilities Special Tax Requirement means the amount necessary in any Quarter (i) to pay interest on the Bonds for the preceding Quarter (and, in the Bond Maturity Quarter, to pay interest and principal on the Bonds in the following Quarter), (ii) to pay any additional interest costs required to bring the Interest Expense Account to its full amount after depositing the amount for the previous Quarter’s interest payment, (iii) to pay one-fourth (1/4) of the Annual Administrative
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Related to Facilities Special Tax Requirement

  • Special Tax Requirement means that amount required in any Fiscal Year to: (i) pay debt service on all Outstanding Bonds; (ii) pay periodic costs on the Bonds, including but not limited to, credit enhancement and rebate payments on the Bonds; (iii) pay Administrative Expenses; (iv) pay any amounts required to establish or replenish any reserve funds for all Outstanding Bonds; (v) pay directly for the acquisition or construction of facilities authorized to be financed by IA No. 2 to the extent that inclusion of such amount does not increase the Special Tax levy on Undeveloped Property; and (vi) pay for reasonably anticipated Special Tax delinquencies based on the historical delinquency rate for IA No. 2 as determined by the CFD Administrator; less (vii) a credit for funds available to reduce the annual Special Tax levy, as determined by the CFD Administrator pursuant to the Indenture.

  • Maximum Special Tax means the maximum Special Tax, determined in accordance with Section C below, that can be levied in any Fiscal Year on any Assessor’s Parcel.

  • Mandatory City Requirements means those City laws set forth in the San Francisco Municipal Code, including the duly authorized rules, regulations, and guidelines implementing such laws that impose specific duties and obligations upon Contractor.

  • Maintenance Requirements shall have the meaning set forth in Clause 14.2;

  • Jurisprudence requirement means the assessment of an individual's knowledge of the laws and rules governing the practice of physical therapy in a state.