Examples of Incremental Taxes in a sentence
The City is not obligated to pay principal of or interest on the Note in any year in which there are inadequate Available Incremental Taxes.
The failure of current or future owners of property in the Project Area to remit property taxes to the City when due or the failure of the City to timely remit Available Incremental Taxes to the Noteholder could result in insufficient Available Incremental Taxes being available to pay principal of or interest on the Note when due.
Risk of Change in Available Incremental Taxes Prospective holders of the Note should carefully consider, among other factors, the risks associated with the ultimate generation of Available Incremental Taxes in·the Project Area.
If any time during the term of the Note the actual equalized assessed value is less than what was projected, the generation of Available Incremental Taxes for payment on the Note is likely to be significantly impaired.
There can be no assurance that Available Incremental Taxes will be sufficient for payment of amounts due and owing on the Note.