Examples of Pledged Tax Revenues in a sentence
Pursuant to the Development Agreement, the City is authorized to and shall continue to maintain the Warrant Fund with the Bank, which shall be a special fund into which the applicable Pledged Tax Revenues pursuant to Section 2 hereof shall be deposited, and from which the applicable payments of debt service on this Warrant shall be made.
The sole source of payment of the Warrant shall be from the applicable Pledged Tax Revenues for which the City is required to pay into the Warrant Fund as described above, and nothing herein or in the Development Agreement shall constitute a charge against the general funds of the City.
The City's obligation hereunder is subject (i) to the law-imposed requirement that, if necessary, there must first be paid from the Pledged Tax Revenues the necessary and legitimate governmental expenses of operating the City, and (ii) the required payments to all warrant holders of the City, both existing and future.