Special Source Revenue Credit definition

Special Source Revenue Credit financing secured by and payable solely from revenues of the County derived from payments in lieu of taxes for the purposes set forth in Section 4-29-68 of the Code, namely: the defraying of the cost of designing, acquiring, constructing, improving, or expanding the infrastructure serving the County and for improved and unimproved real estate, and personal property, including but not limited to machinery and equipment, used in the operation of a manufacturing facility or commercial enterprise in order to enhance the economic development of the County (collectively, “Infrastructure”).

Special Source Revenue Credit means the Special Source Revenue Credit described in Section

Special Source Revenue Credit means the credit against the fee in lieu of tax payments

Examples of Special Source Revenue Credit in a sentence

• The County will use its reasonable best efforts to cause the Project to be located in a MCIP for a term extending at least until the end of the period of FILOT Payments against which a Special Source Revenue Credit is to be provided under this Fee Agreement.

• An Ordinance Authorizing pursuant to Title 4, Chapter 1, Section 170; Title 4, Chapter 1, Section 175; and Title 4, Chapter 29, Section 68 of the Code of Laws of South Carolina, 1976, as amended, the execution and delivery of an amendment to a Special Source Revenue Credit Agreement between Richland County, South Carolina and WNS Global Services Inc.; and matters relating thereto – No one signed up to speak.

• Subject to the provisions herein, the County grants a Special Source Revenue Credit (“SSRC”) to the Company in an amount equal to thirty percent (30%) of each Fee Payment due for the Project for a period of ten (10) years (“Credit Period”).

• First Reading of Ordinance #2020-19 An Ordinance Authorizing the Execution and delivery of a Special Source Revenue Credit Agreement by and among Marion County, South Carolina and Project Jigsaw, Providing for the Issuance of Special Source Revenue Credits and Other Matters Related Thereto.

• Third Reading of Ordinance #2020-16 An Ordinance Authorizing the Execution and Delivery of a Special Source Revenue Credit Agreement by and among Marion County, South Carolina, and Project Splash, Providing for the Issuance of Special Source Revenue Credits and Other Matters Related Thereto.

• Each annual Special Source Revenue Credit shall be reflected by the County Auditor or other authorized County official or representative on each bill for FILOT Payments sent to the Company by the County for each applicable property tax year, by reducing such FILOT Payments otherwise due by the amount of the Special Source Revenue Credit to be provided to the Company for such property tax year.

• Commission Action: Moved by Mr. Gasper Chifici, seconded by Mr. Donald Songy unanimously adopted, to deny this request for family partition due to it not being in the spirit and intention in which family partition ordinance was created and there not being a genuine hardship proved.

• Third Reading of Ordinance #2020-18 An Ordinance Authorizing the Execution and delivery of a Special Source Revenue Credit Agreement by and among Marion County, South Carolina, DMA Sales, LLC, and DMA Substantia, LLC, Providing for the Issuance of Special Source Revenue Credits and Other Matters Related Thereto.

• As an inducement for the Investment and in accordance with Section 12-44-70 of the Act, the County grants to the Company a Special Source Revenue Credit (“SSRC”) equal to twenty percent (20%) of the value of the annual Payments-in-Lieu-of-Taxes due for property tax years one (1) through five (5) (the “Credit Period”) beginning with the first property tax year for which a Payment-in-Lieu-of-Taxes becomes due.

• To claim each SSRC, the Sponsor shall file with the County Administrator, the County Auditor, and the County Treasurer, no later than the date on which the FILOT Payment is due in each year in which the Sponsor is entitled to claim an SSRC, an Annual Special Source Revenue Credit Certification, the form of which is attached as Exhibit C (the “Certification”), showing the amount of aggregate investment inqualifying infrastructure and the calculation of the SSRC.

More Definitions of Special Source Revenue Credit

Special Source Revenue Credit or “SSRC” shall mean the special source revenue credit granted by the County pursuant to the Multi-County Park Act, including Section 4-1-175 thereof, and, by incorporation, Section 4-29-68 of the Code, and by Article VIII, Section 13 of the South Carolina Constitution, as further described in Section 4.2 hereof.

Special Source Revenue Credit means the credit against the Company’s fee in lieu of tax payments, to reimburse the Company for the Cost of the Project Property, in the amounts set forth in Section 3.02 hereof.