TIF Bond Proceeds definition

TIF Bond Proceeds means all of the proceeds from the sale of the TIF Bonds issued by the City used to reimburse Developer for certain costs incurred for the Project, except for costs of issuance (including items such as underwriter’s discount and any bond insurance premium) and any reasonable required reserve fund.
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TIF Bond Proceeds shall have the meaning given in Recital F.
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Examples of TIF Bond Proceeds in a sentence

  • Redeveloper shall, at its own cost and expense, subject to full or partial reimbursement with available TIF Bond Proceeds as set forth in this Redevelopment Agreement, construct/install or cause the Redeveloper Public Improvements as defined below to be constructed/installed.

  • The City shall either: (a) receive TIF Bond Proceeds from the TIF Bond Purchaser to be deposited into a City fund account (the “Project Account”) for payment of the items listed in the TIF Priority Expenses set forth in Section 503 below; or (b) based on documentation and pay applications submitted by Redeveloper, approve progress payments for eligible expenses and approve disbursement by the TIF Bond Purchaser to contractors and suppliers directly.

  • The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 503 TIF Priority Expenses.

  • The Mayor is hereby authorized to amend or modify the order of Redeveloper Priority Expenses and use of the TIF Bond Proceeds for the Section 503 Priority Expenses.

  • City shall be subject to audit by Redeveloper with regard to the collection, disbursement, and/or funding of any of the uses set forth in Section 503 and shall make available to Redeveloper and/or any auditor working on behalf of Redeveloper copies of all financial and performance-related records and materials germane to this Redevelopment Agreement and the use of the TIF Bond Proceeds for the Section 503 Priority Expenses.

  • Reimbursement to Developer is limited solely to the TIF Bond Proceeds as set forth herein.

  • TIF Bond Proceeds shall be used for and expended in the following priority: FIRST PRIORITY: Reimburse the City for the cost of issuing the TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest, and reserves.

  • In the event Redeveloper fails to substantially complete the New Building as provided in Section 304 (Commencement and Completion Deadline for New Building) above, Redeveloper agrees, subject to Section 901 (Remedies) below, to repay the City for any grant of funds from TIF Bond Proceeds to Redeveloper as provided for in this Agreement.

  • Specifically, the City will remit the TIF Bond Proceeds for the Reimbursable Costs on the Property, or any other Reimbursable Costs permitted by N.D.C.C. § 40-58-20.1, Subd.

  • The City shall not have any obligation to reimburse Redeveloper for the cost of the Façade Enhancements in excess of available TIF Bond Proceeds as provided for in this Redevelopment Agreement.