Examples of TDD Act in a sentence
Under the TDD Act, the owners of all land within the proposed TDD boundaries may petition the City to request the creation of a TDD and to impose a TDD Sales Tax (as defined in Section 3.2 below) to pay the cost of a transportation development project and/or to repay special obligation bonds issued by the City to finance such projects.
Subject to the terms and conditions of this Agreement, the TDD Improvement Costs which are legally eligible for reimbursement to Developer under the TDD Act, up to an amount equal to Seven Million Two Hundred Thousand and 00/100 Dollars ($7,200,000.00) (the "Eligible Expenses"), shall be reimbursed with available TDD Sales Tax proceeds.
The annual Administrative Fee for the District shall be an amount equal to the greater of $5,000 per year or 1% of the TDD Sales Tax proceeds deposited into the TDD Sales Tax Fund hereunder from time to time during the Term and such TDD Administrative Fee shall be due and payable on the date the TDD Sales Tax is received by the City from DOR (provided that the TDD Act permits payment directly from the TDD Sales Tax, and if not, within thirty (30) days of demand therefor by the City).
The City may continue to use any surplus amounts of TDD Sales Tax after all TDD Costs have been reimbursed, for any purpose authorized by the TDD Act.
Such costs and expenses may be deemed costs of the project, to the extent permitted by the TDD Act, as amended..
Fourth, to the extent permitted under the TDD Act, to reimburse the Developer for remaining Eligible Expenses.
Nothing in this Agreement shall obligate the City to reimburse Developer for any cost that is not a “Project” as defined by the TDD Act, except as otherwise expressly provided in this Agreement.
The City is a municipal corporation and political subdivision duly organized and existing under the laws of the State of Kansas and authorized by K.S.A. 12- 17,140 et seq., as amended (the “TDD Act”), to provide financing for certain qualified projects upon compliance with the procedures set forth in the TDD Act.
The annual Administrative Fee for the TDD District shall be an amount equal to the greater of $5,000 per year or 1% of the TDD Sales Tax proceeds deposited into the TDD Sales Tax Fund hereunder from time to time during the Term and such Administrative Fee shall be due and payable on the date the TDD Sales Tax is received by the City from DOR (provided that the TDD Act permits payment directly from the TDD Sales Tax, and if not, within thirty (30) days of demand therefor by the City).
Louis County to give notice of, and to call a meeting of the owners of record of the District pursuant to Section 238.220.2 of the TDD Act at a specified day and hour in a public place in St. Louis County, Missouri for the purpose of electing the initial board of directors of the District, to be composed of five (5) members, three (3) of which shall be representatives of the owners of real property in the District and two (2) of which shall be City officials.