Issuing District definition
Examples of Issuing District in a sentence
The Issuing District shall notify the Pledge District each year of the Financing Costs and Operating Costs in sufficient time to permit the Pledge District to incorporate such amounts in its annual budgets and appropriation resolutions and to timely certify the Pledge District Required Mill Levy to the proper taxing authorities as provided in this section.
The Issuing District and the Pledge District hereby elect to apply all of the provisions of the Supplemental Act to this Agreement and the Payment Obligation.
The Issuing District and the Pledge District each hereby makes the following representations and warranties with respect to itself: Such District is a quasi-municipal corporation and political subdivision duly organized and validly existing under the laws of the State.
In consideration for the issuance or incurrence of Financing Obligations for the provision of the Pledge District Public Improvements, the Pledge District hereby agrees to levy the Financing Costs Mill Levy and pay to the Issuing District (or as otherwise directed by the Issuing District) such portion of the Financing Costs as may be funded from Pledge District Pledged Revenues to the extent available from such Financing Costs Mill Levy, in accordance with the provisions hereof.
In accordance with the definition of Pledge District Required Mill Levy set forth herein, the Issuing District shall preliminarily determine, and provide to the Pledge District, the Pledge District Required Mill Levy (including the components thereof) no later than October 15 of each year, and shall finally determine, and provide to the Pledge District, the final Pledge District Required Mill Levy (including the components thereof) no later than December 15 of each year.
Such Pledge Agreement Revenue is hereby pledged by each Taxing District to the Issuing District and the Trustee, on behalf of the Bondholders, for the payment of such Taxing District’s Payment Obligation in accordance with the terms hereof.
In addition, the Issuing District and the Contracting Party will retain copies of this Election in their respective records for the entire term of the Contract.
This Agreement may not be assigned or transferred by either the Issuing District or the Pledge District without the prior written consent of the other District.
Except as otherwise provided herein, all notices required to be given under this Agreement shall be in writing and shall be hand delivered or sent by certified mail, return receipt requested, or air freight, to the following addresses: To the Issuing District: The Sands Metropolitan District No. 2 c/o District President ▇▇▇ ▇.
By the acceptance of this Agreement and as a part of the consideration hereof, the Issuing District specifically waives any such recourse.