Examples of PILOTs Account in a sentence
The creation and establishment in the treasury of the City of the following funds and accounts is hereby ratified: Chesterfield Valley Special Allocation Fund of the City of Chesterfield (the "Special Allocation Fund"), and within the Special Allocation Fund, a PILOTs Account and an Economic Activity Tax Account.
So long as any of the TIF Notes remain outstanding, the Finance Director shall, on Payment Dates administer and allocate the moneys held in the PILOTs Account and, subject to annual appropriation by the City, the EconomicActivity Tax Account as follows: that(a) Fees and There shall first be paid to the City or its payees any fees andexpenses incurred by the City incidental to the Redevelopment Plan or the TIF Notes; amount shall not exceed the sum of $100,000 during any calendar�year.such (b) of TIF Notes.
Subject to the requirements of the TIF Act and, with respect to Economic Activity Taxes, subject to annual appropriation by the Board of Aldermen, the City will promptly upon receipt thereof deposit all Payments in Lieu of Taxes into the PILOTs Account and all Economic Activity Taxes into the EATs Account.
Special Allocation Fund, and therein the PILOTs Account, which secures the repayment, first, of the Senior Bonds, and after all Senior Bonds are retired, the Bonds.
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