TIRZ Act definition
Examples of TIRZ Act in a sentence
Such services may include, without limitation, management and administration of the Zone, assistance with the enlargement of the Zone and amendments to the TIRZ Plan, preparation of tax rolls and documentation and coordination with other taxing units, construction and monitoring of infrastructure projects, purchase of equipment and supplies, and buying and selling real property as necessary to implement the Plans and as permitted by the TIRZ Act.
In consideration of the services and Projects to be provided by the District, the City and the Zone covenant and agree that they will, as authorized under the TIRZ Act and other applicable laws, continuously collect the Tax Increments from the Taxing Units whose participation in the Zone is reflected in the TIRZ Plan during the term of this Agreement in the manner and to the maximum extent permitted by applicable law.
Upon the payment in full, or defeasance, of any series of Bonds, and payment of all expenses relating thereto, the City shall deposit all remaining funds held with respect to such Bonds to the Authority for payment of Project Costs permitted under the TIRZ Act.
Promptly after receipt of such Letter of Instructions from the City, the Trustee shall cause any money remaining in the Pledged Revenue Fund or the Project Fund to be transferred to the City for disbursement to the City and to the Taxing Units in accordance with the provisions of the TIRZ Act.
Pursuant to Sections 311.010(b) and 311.013 of the TIRZ Act, the City shall use reasonable efforts to enter into separate agreements (each a “Tax Participation Agreement” and collectively, the “Tax Participation Agreements”) with the County, the College and the Hospital.