Examples of TDD Bonds in a sentence
At the Developer’s request, in lieu of issuing TDD Bonds to finance Eligible Expenses, the City agrees, to the extent permitted under State law, to reimburse the Developer from the TDD Sales Tax Fund for Eligible Expenses in accordance with the provisions of this Agreement.
The specifics of the issuance and repayment of the TDD Bonds shall be in accordance with the TDD Bond Documents, to be approved by City ordinance, in accordance with this Agreement.
Bond Counsel fees incurred with the issuance of the TDD Bonds, if any, will be paid from TDD Bonds and if such TDD Bonds are not issued shall be paid by the Developer.
On a date agreed to by the City and the Developer and subject to the conditions set forth below in paragraph D, the City will issue TDD Bonds in one or more series payable from the TDD Sales Tax.
During the existence of the Oak Park Mall TDD and prior to issuance of TDD Bonds, if any, all TDD Sales Taxes generated within the Oak Park Mall TDD shall be deposited into a TDD Sales Tax Fund, which shall be established and administered by the City in compliance with the laws of the State of Kansas and this Agreement.
If TDD Bonds are issued by the City, a TDD Bond Fund shall be created and administered by the City or its designee and will be utilized solely to repay the TDD Bonds and amounts, if any, required to pay rebate amounts.
Upon issuance of the TDD Bonds, the Net TDD Bond Proceeds shall be disbursed to the Developer by the City or Bond Trustee for the purpose of funding Eligible Expenses in accordance with the terms of this Agreement and the TDD Bond Documents.
The Developer shall pay the City’s financial advisor, where such services performed by the financial advisor are reasonably related and necessary to the City’s analysis and review of the TDD Improvements financing including any issuance of TDD Bonds.
Such financial advisor fees will be paid from proceeds of TDD Bonds and if such TDD Bonds are not issued shall be paid by the Developer.