Examples of Tax Increment in a sentence
The Authority and or the City shall promptly collect the Tax Increment as generated pursuant to the TIF Ordinance and the Project Plan, and shall maintain such funds in the Apportionment Fund for the purposes set forth in the TIF Ordinance and the Project Plan.
The Town shall, subject to further proceedings as required by law, cause the issuance of Taxable Economic Development Tax Increment Revenue Bonds, Series 2024B, pursuant to Indiana Code 36-7-12 to provide funding to the Developer for the Additional Costs (the “Series 2024B Bonds”).
Further, as provided in Sections 5.1, 5.3 and 11.1 of the Development Agreement or otherwise, the City’s obligations to make payments on this MRO may be suspended or terminated in the event Developer is in Default under any of the terms and conditions of the Development Agreement, provided payments may be resumed when any such Default is timely cured and any payments missed due to an uncured Default also shall be paid from Available Tax Increment upon timely cure of such Default.
This MRO shall be payable solely from Available Tax Increment generated by the Property and appropriated by the City’s Common Council to the payment of this MRO (the “Revenues”).
The Authority shall pledge, and agrees to take any other actions as shall be necessary to confirm or perfect such pledge, in each case in accordance with the Indenture, one-hundred percent (100%) of the apportioned Tax Increment pertaining to the Increment District, at such times and in such amounts as the Tax Increment may be received, to the payment of debt service on obligations issued pursuant to Section 4.3 herein.