Participating Taxing Entities definition

Participating Taxing Entities shall have the meaning given such term in the recitals of this Agreement.
Sample 1Sample 2Sample 3
Participating Taxing Entities means the City, Salt Lake County, the School District and [ ]; and (e) “Participant’s Tax Increment Share” shall mean annually, for a maximum period of twenty (20) years commencing with the first year Tax Increment is received by the Agency, ninety-five percent (95%) of the Tax Increment actually paid to the Agency and available for reimbursement pursuant to the terms of the Interlocal Agreements and this Agreement. The Agency agrees to reimburse the Participant for Reimbursable Costs from the Participant’s Tax Increment Share in accordance with the terms of this Agreement up to the total aggregate amount of eleven million five hundred fifty two thousand and no/100 Dollars ($11,552,000) (the “Maximum Reimbursable Amount”) for the development of the Project. Reimbursement of Reimbursable Costs shall be made annually after the conditions to reimbursement have been satisfied and then only from and to the extent that Tax Increment is generated and actually paid to the Agency. If actual Reimbursable Costs are less than the Maximum Reimbursable Amount, Participant shall be entitled to receive payment hereunder only for the Reimbursable Costs the Participant actually incurs and pays. If and to the extent that the Participant does not construct improvements within the Project Area that create enough assessed value and taxable retail sales such that the sum of the Participant’s Tax Increment Share is less than the Maximum Reimbursable Amount, the Agency shall not, to that extent, be obligated to reimburse the Participant in the aggregate the full amount of the Maximum Reimbursable Amount. Notwithstanding the foregoing, the Agency shall retain for the costs of administering the Project Area Plan an amount not to exceed five percent (5%) of the Tax Increment it receives for such year, which amount shall not be available to reimburse Participant for the Reimbursable Costs. Tax Increment are the only funding sources available or obligated under this Agreement. The Participant acknowledges and agrees that the Agency has no other funds or revenue to use to make payment hereunder other than the Tax Increment it receives under the Interlocal Agreements. Subject to the terms of this Agreement, the Agency shall reimburse the Participant for Reimbursable Costs from the Participant’s Tax Increment Share until the Participant has been reimbursed for its actual Reimbursable Costs has been paid the Maximum Reimbursable Amount hereunder or until the Agency is no longer entitled to...
Sample 1Sample 2

Examples of Participating Taxing Entities in a sentence

  • The sole source of the funds to reimburse the City for Project Costs shall be the Available TIF Funds levied and collected on the TIRZ and contributed by the Participating Taxing Entities participating in the TIRZ to the fund, created and maintained by the City for the purpose of implementing the Public Improvements of the Project.

  • Under the Act and the Interlocal Agreements between the Agency and the Participating Taxing Entities (as defined below), the Agency is entitled to receive, or anticipating on receiving, up to [ ] percent ([ ]%) of the Tax Increment (as defined below) over a maximum period of twenty (20) years.

  • Section 5.4 This Indenture part of Original Indenture....................

  • The source of the funds to reimburse Developer shall be from the Available Tax Increment levied and collected on the real property located in the TIRZ and contributed by the Participating Taxing Entities to the TIRZ Fund.

  • To the extent Panthers Net Park Fees are not necessary to meet the Authorized Uses in a given Bond Year, Surplus Net Park Fees shall be distributed to the Participating Taxing Entities (as each term is defined in the Interlocal Agreement) as set forth in the Interlocal Agreement.

  • Upon expiration or termination of the ZONE and after all bonds and/or notes have been paid and all reimbursements have been made, any money remaining in the Tax Increment Fund, including from the Separate Additional Funds, shall be paid to the Participating Taxing Entities on a pro rata basis in accordance with Section 311.014(d) of the Texas Tax Code, or any successor provision thereto.

  • The Participating Taxing Entities, during the term of this Agreement, may inspect the Project site and review Project plans and drawings at times and intervals in a manner that will not interfere with ongoing operations.

  • Participating Taxing Entities: City of San Antonio Bexar CountyBase Assessed Values in a TIRZ continue to be collected by taxing entities – only the new values (the increment) are collected in the TIRZ Fund.

  • Upon expiration or termination of the ZONE and after all bonds and/or notes have been paid and all reimbursements have been made, any money from the Separate Additional Funds remaining in the Tax Increment Fund shall be paid to the Participating Taxing Entities on a pro rata basis in accordance with Section 311.014(d) of the Texas Tax Code, or any successor provision thereto.

  • Each party understands and agrees that certain provisions or requirements of this Agreement may additionally be subject to the execution of certain Inter-local Agreements for the Project to be executed between the City and the Participating Taxing Entities.

Related to Participating Taxing Entities

  • Participating Entities and “Participating Entity” are defined on the Coversheet.

  • Participating Entity means a state (as well as the District of Columbia and US territories), city, county, district, other political subdivision of a State, or a nonprofit organization under the laws of some states properly authorized to enter into a Participating Addendum, that has executed a Participating Addendum.

  • Taxing entity means a public entity that:

  • School operating taxes means local ad valorem property taxes levied under section 1211 of the revised school code, MCL 380.1211, and retained for school operating purposes.

  • Transferred Entities means the entities set forth on Schedule 1.5.

  • Seller Group means, at any time, the group of companies comprised of Xxxxx Fargo & Company and its subsidiaries at that time.

  • Pre-Closing Tax Returns has the meaning set forth in Section 4.02(b).

  • Taxable Supply ’ means a supply of goods or services or both which is leviable to tax under this Act;

  • Promoter Group means such persons and entities constituting the promoter group as per Regulation 2(1)(pp) of the SEBI ICDR Regulations.

  • non-taxable supply means a supply of goods or services or both which is not leviable to tax under this Act or under the Integrated Goods and Services Tax Act;

  • Seller’s Group means the Seller and any company which is, on or after the date of this Agreement, a subsidiary or holding company of the Seller or a subsidiary of a holding company of the Seller, and excludes, for the avoidance of doubt, any Group Company, and "Seller's Group Company" shall be construed accordingly.

  • Tax Group means any federal, state, local or foreign consolidated, affiliated, combined, unitary or other similar group of which the Acquiror Company is now or was formerly a member.

  • Participating Company Group means, at any point in time, all corporations collectively which are then Participating Companies.

  • Pre-Closing Tax Return has the meaning set forth in Section 7.1(a).

  • VAT Group means a group for the purposes of the VAT Grouping Legislation.

  • Designated Group means - i) Black designated groups; ii) Black People; iii) Women; iv) people with disabilities or v) Small enterprise, as defined in Section 1 of National Small Enterprise Act, (102 of 1996)

  • Seller Entities means the Seller and its affiliates other than the Buyer Entities;

  • Participating Affiliate means an Affiliate which has been designated by the Committee in advance of the Purchase Period in question as a corporation whose eligible Permanent Full-Time Employees may participate in the Plan.

  • Participating Companies means any insurance company (including Insurance Company) that offers variable annuity and/or variable life insurance contracts to the public and that has entered into an agreement with one or more of the Funds.

  • SpinCo Group means (a) prior to the Effective Time, SpinCo and each Person that will be a Subsidiary of SpinCo as of immediately after the Effective Time, including the Transferred Entities, even if, prior to the Effective Time, such Person is not a Subsidiary of SpinCo; and (b) on and after the Effective Time, SpinCo and each Person that is a Subsidiary of SpinCo.

  • SpinCo Entities means the entities, the equity, partnership, membership, limited liability, joint venture or similar interests of which are set forth on Schedule IV under the caption “Joint Ventures and Minority Investments.”

  • Seller Group Member means (a) Seller and its Affiliates, (b) directors, officers and employees of Seller and its Affiliates and (c) the successors and assigns of the foregoing.

  • Remainco Group means RemainCo and its Subsidiaries, other than the SpinCo Group.

  • Purchaser’s Group means the Purchaser, its subsidiaries and subsidiary undertakings, any holding company of the Purchaser and all other subsidiaries of any such holding company from time to time;

  • Related Group For Loan Group 1, Group 1 and for Loan Group 2, Group 2.

  • Pre-Closing Taxes means Taxes of the Company for any Pre-Closing Tax Period.