Ongoing Park Maintenance definition
Examples of Ongoing Park Maintenance in a sentence
Ongoing Park Maintenance costs will not be payable from Net Available Increment.
The Agency agrees to use Maintenance Special Taxes only to pay for Ongoing Park Maintenance within the Project Site.
Developer and the Agency understand that the City and the Agency are responsible for Ongoing Park Maintenance, and financing Ongoing Park Maintenance is of paramount importance to the City, the Agency, and Developer.
Each CFD shall be authorized to finance all of the Qualified Project Costs, Additional Community Facilities, and Ongoing Park Maintenance, irrespective of the geographic location of the improvements financed or maintained.
A CFD may finance only Qualified Project Costs, Additional Community Facilities, and Ongoing Park Maintenance that: (a) are financeable under the CFD Act; and (b) qualify under Tax Laws, if CFD Bonds are issued and if CFD Bonds are issued as tax-exempt bonds.
For each CFD, prior to its CFD Conversion Date, Ongoing Park Maintenance shall be payable from Remainder Taxes and other sources identified in Section 2.7. For each CFD, after its CFD Conversion Date, Ongoing Park Maintenance may be payable from Project Special Taxes or Remainder Taxes.
Accordingly, each RMA shall provide for the financing of Ongoing Park Maintenance for the duration of the CFD.
Therefore, ▇▇▇▇▇▇▇▇▇ agrees to establish a Maintenance CFD and supporting framework to finance Ongoing Park Maintenance.
In both cases, Ongoing Park Maintenance may be funded irrespective of the issuance of CFD Bonds (First Tranche or Second Tranche) and irrespective of whether there are unreimbursed Qualified Project Costs or Additional Community Facilities.
Accordingly, each RMA will provide that Remainder Taxes may be used to finance Ongoing Park Maintenance and Qualified Project Costs.