Project Cost Account definition

Project Cost Account means the project cost account described in the Financial Plan Section of the Development Program and established and maintained pursuant to Title 30-A M.R.S.A. § 5227(3)(A)(1) and Article II hereof.

Project Cost Account means the project cost account associated with the Project as described in the Development Program and established and maintained pursuant to Title 30-A

Project Cost Account means the Developer’s Project Cost Account described in Article III of the Development Program and established and maintained pursuant to Article II of this Agreement.

Examples of Project Cost Account in a sentence

• The City shall not create any liens, encumbrances or other interests of any nature whatsoever, nor shall it hypothecate the Project Cost Account described in Section 2.1 hereof or any funds therein, other than the interest in favor of Developer hereunder; provided, however, that nothing herein shall prohibit the creation of property tax, sewer or other liens on property in the District in accordance with and entitled to priority pursuant to Maine law.

• The Project Cost Account is pledged to and charged with the payment of costs in the manner and priority provided in Section 3.1(b) below.

• Developer shall have the right to initiate and maintain an action to specifically enforce the City’s obligations hereunder, including without limitation, the City’s obligation to deposit Tax Increment Revenues to the Project Cost Account and its obligation to make payment out of the Project Cost Account to Developer.

• The amounts in each Developer’s Project Cost Account will be used and applied solely to fund the payments to the applicable Developer under its Credit Enhancement Agreement.

• The Town shall deposit into the Developer’s Project Cost Account, within 15 days after each payment of Property Tax and other taxes described in Section 3.1 hereof during the term of this Agreement an amount equal to that portion thereof constituting the Tax Increment (Developer’s Share) for the period or year to which the payment relates and shall allocate the amount so deposited to fund fully and pay the payments due to Developer under Article III of this Agreement.

More Definitions of Project Cost Account

Project Cost Account means the Project Cost Account described in the Financial Plan Section of the Development Program and established and maintained pursuant to Article IV hereof.

Project Cost Account means the fund established by the municipality into which funds from the District Master Plan Fund are deposited as authorized in the Financial Plan before being distributed into the Town Cost Sub Account(s) or the Developer Cost Sub Account(s).

Project Cost Account means an account established by a municipality that is pledged to and charged with the payment of the project costs that are outlined in an approved financial plan and that are paid in a manner other than that described in subsection 5.

Project Cost Account means the account in the Development Program Fund described in Section IV(B) of the Development Program and established and maintained pursuant to the Development Program and Article II hereof.

Project Cost Account means the account in the Development Program Fund, as further described in the Development Program and established and maintained pursuant to Title 30-A M.R.S.A. § 5250-A(3)(A) and Article III hereof.

Project Cost Account means the project cost account described in the Financial Plan Section of the

Project Cost Account means the project cost account described in the Development Program and established and maintained pursuant to Title 30-A M.R.S.A. § 5250-A(3)(A)(1) and Article II hereof.