Required Mill Levy definition

Required Mill Levy means with respect to the payment of any District Repayment Obligation, an ad valorem mill levy (a mill being equal to 1/10 of 1 cent) imposed upon all taxable property of the taxing Districts each year in an amount sufficient, based upon the taxing Districts' then-existing assessed valuations and assuming a 100% collection rate, to pay the principal of and interest on the District Repayment Obligation, but not in excess of 50 mills (without adjustment for changes in law) less the amount of any mill levy pledged to any Bonds then outstanding under the Bond Documents.
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Required Mill Levy means an ad valorem mill levy (a mill being equal to 1/10 of 1 cent)
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Required Mill Levy means the debt service mill levy of not less than 32 mills and not more than 50 mills (Gallagherized) per year required to be imposed by District No. 2 under the Indentures (unless otherwise limited pursuant to the terms of the Indentures) and the Agreement for the repayment of the District No. 2 Bonds and the repayment to the City and County of amounts paid to the Trustee as part of the Extended Reimbursement Obligation.
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Examples of Required Mill Levy in a sentence

  • The District has acknowledged that State Law places certain restrictions on the use of money derived from the Senior Required Mill Levy.

  • Available revenues produced from the Required Mill Levy and specific ownership taxes generated from the Required Mill Levy will be used to pay current interest, accrued interest, and then principal.

  • The Series 2008 Bonds are subordinate obligations of the District secured by and payable from pledged revenue consisting of monies derived by the District from the following sources, net of any collection costs: (1) the Required Mill Levy (as defined below), (2) the capital fees, (3) the portion of the specific ownership taxes which is collected as a result of the imposition of the Required Mill Levy and (4) any other legally available monies which the District determines to be treated as pledged revenue.

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  • As a result of that adjustment, the Required Mill Levy for the Bonds, as set forth in the Pledge Agreement and the Indenture may be set at a maximum of 55.664 mills, without exceeding the maximum General Obligation Debt mill levy set forth in the Service Plan.

  • NOTE 4 – LONG-TERM OBLIGATIONS (CONTINUED) Required Mill Levy means an ad valorem mill levy imposed upon all taxable property of the District each year in an amount sufficient to pay principal, premium, if any, and interest on bonds as the same become due and payable.

  • As a result, and subject to (i) future Gallagher Adjustments and (ii) the applicable Mill Levy Commencement Year, each Residential District is expected to determine that the 50 mills referred to in the definition of Residential District Required Mill Levy above will be increased to 55.664 mills for each Residential District, when certified in the applicable Mill Levy Commencement Year.

  • The chief judge shall be responsible for the assignment of cases and the management of the courts calendar and business.

  • The Senior Required Mill Levy is adjusted for changes in the ratio of taxable valuation to assessed valuation of real property since October 23, 2006 (the date the Service Plan was approved by the Town).

  • The specifics of which are defined in the 2016A Indenture.The Required Mill Levy of the District under the 2016A Indenture is limited to a maximum of37.5 mills, as adjusted, during certain periods, and to a maximum of 43.5 mills, as adjusted, during certain other periods.


More Definitions of Required Mill Levy

Required Mill Levy has the meaning assigned it in the Pledge Agreement.
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Related to Required Mill Levy

  • Required Minimum means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in the future pursuant to the Transaction Documents, including any Underlying Shares issuable upon conversion in full of all Notes (including Underlying Shares issuable as payment of interest on the Notes), ignoring any conversion or exercise limits set forth therein.

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 28.00% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.

  • LCA Test Date has the meaning specified in Section 1.03(e).

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • Anticipated total county revenue availability means the sum of the:

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Pro Forma Disposal Adjustment means, for any Test Period that includes all or a portion of a fiscal quarter included in any Post-Transaction Period with respect to any Sold Entity or Business, the pro forma increase or decrease in Consolidated EBITDA projected by the Borrower in good faith as a result of contractual arrangements between the Borrower or any Restricted Subsidiary entered into with such Sold Entity or Business at the time of its disposal or within the Post-Transaction Period and which represent an increase or decrease in Consolidated EBITDA which is incremental to the Disposed EBITDA of such Sold Entity or Business for the most recent Test Period prior to its disposal.

  • Plant Test Date or "PTD" means the date acceptance testing is performed with CLEC. "Point of Interface", "Point of Interconnection," or "POI" is a demarcation between the networks of two (2) LECs (including a LEC and CLEC). The POI is that point where the exchange of traffic takes place.

  • Anticipated total county revenue availability per student means the anticipated total county revenue availability for the county divided by the average daily membership of the county.

  • Required Amount shall have the meaning set forth in Section 4.8.

  • Lowest Achievable Emission Rate (LAER means, for any source, the more stringent rate of emissions based on the following:

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Lowest achievable emission rate (LAER) means for any source, that rate of emissions which reflects the most stringent emission limitation which is contained in the implementation plan of any State for such class or category of source, unless the owner or operator of the proposed source demonstrates that such limitations are not achievable, or the most stringent emission limitation which is achieved in practice by such class or category of source, whichever is more stringent. In no event shall the application of this term permit a proposed new or modified source to emit any pollutant in excess of the amount allowable under applicable New Source Standards of Performance.

  • Commercial Operation Date (COD) means the date certified by the DISCOM’s committee upon successful commissioning (as per provisions of the PPA) of the project when all equipments as per rated capacity have been installed and energy has flown into the grid.

  • Professional Fee Reserve Amount means the total amount of Professional Fee Claims estimated in accordance with Article II.A.2(c) of the Plan.

  • Required Reserve means, on any day during a Calculation Period, the product of (a) the greater of (i) the Required Reserve Factor Floor and (ii) the sum of the Loss Reserve, the Yield Reserve, the Dilution Reserve and the Servicing Reserve, times (b) the Net Pool Balance as of the Cut-Off Date immediately preceding such Calculation Period.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and