Pledged Tax Revenues definition

Pledged Tax Revenues means all taxes (i) that were eligible for allocation to the Former Agency with respect to the Project Area and are allocated to the Successor Agency pursuant to Article 6 of Chapter 6 (commencing with Section 33670) of the Law and Section 16 of Article XVI of the Constitution of the State, or pursuant to other applicable State laws and (ii) that are deposited or available for deposit by the County Auditor-Controller in the Redevelopment Property Tax Trust Fund, all as provided in Section 34172(d) of the Dissolution Act.

Pledged Tax Revenues means all taxes that were eligible for allocation to the Prior Agency with respect to the Project Areas and are allocated to the Successor Agency pursuant to Article 6 of Chapter 6 (commencing with Section 33670) of the Law and Section 16 of Article XVI of the Constitution of the State, or pursuant to other applicable State laws and that are deposited in the RPTTF, excluding (i) the portion of such taxes required to pay debt service on the Existing Bonds, but only to the extent that such taxes were pledged to the payment of debt service on the Existing Bonds, (ii) payments required pursuant to the Pass-Through Agreements to the extent not subordinated to payments on the Bonds, Existing Bonds or any Parity Bonds by their terms, and (iii) all Statutory Pass-Through Amounts unless such payments are subordinated to payments on the Existing Bonds, the Bonds or any Parity Bonds or to the payments owed under any Existing Bonds Indentures pursuant to Section 33607.5(e) of the Law and 34177.5(c) of the Dissolution Act.

Pledged Tax Revenues means the net avails or proceeds of the unlimited ad valorem tax levied against all assessable properties within the District, as approved by the electorate of the District in an election previously held therein.

Examples of Pledged Tax Revenues in a sentence

• The Borrower shall comply with all requirements of the Law to ensure the allocation and payment to it of the Pledged Tax Revenues including, without limitation, the timely filing of any necessary statements of indebtedness with appropriate officials of the County of San Diego.

• The Borrower shall not amend the Redevelopment Plan, or enter into any agreement with the County of San Diego or any other governmental unit, which would have the effect of materially reducing the amount of Pledged Tax Revenues available to the Borrower for payment of the principal and interest with respect to the Line of Credit.

• Upon the expiration of any Qualified Reserve Account Credit Instrument, the Administrator shall either (i) replace such Qualified Reserve Account Credit Instrument with a new Qualified Reserve Account Credit Instrument, or (ii) deposit or cause to be deposited with the Trustee an amount of funds equal to the Reserve Requirement, to be derived from the first legally available Pledged Tax Revenues.

• The Bonds shall be and are special obligations of the Successor Agency and are secured by an irrevocable pledge of, and are payable as to principal, interest and premium, if any, from Pledged Tax Revenues and other funds as hereinafter provided.

• The Authority further covenants that it has entered into an agreement with the CDTFA under and pursuant to which the CDTFA will process and supervise collection of the Measure R Sales Tax and will transmit Pledged Tax Revenues directly to the Senior Trustee, and further covenants that it has entered into an agreement with the Senior Trustee under and pursuant to which the Senior Trustee will transfer Junior Subordinate Pledged Revenues directly to the Trustee on a timely basis.

More Definitions of Pledged Tax Revenues

Pledged Tax Revenues means the proceeds of the Sales Tax collected in each year, excluding any collections of the third penny tax.

Pledged Tax Revenues means Tax Revenues, but excluding therefrom Statutory Pass-Through Amounts.

Pledged Tax Revenues has the meaning set forth in the Senior Lien Trust Agreement.

Pledged Tax Revenues means the amounts collected on account of the Measure R Sales Tax (i) less any refunds and the administrative fee deducted by the CDTFA and (ii) less the Local Return.

Pledged Tax Revenues means all taxes that are allocated, or available to be allocated, to (a) the Authority pursuant to California Health and Safety Code Section 33492.71, subsection (c)(1)(A) or (b) the Administrator, as successor in interest to the Authority upon its dissolution, pursuant to California Health and Safety Code Section 33492.71, subsection (c)(1)(D), as applicable.

Pledged Tax Revenues means all taxes attributable to the Seaside-Fort Ord Project Area and the Marina Project Area No. 3 that are allocated, or available to be allocated, to (a) the Authority pursuant to California Health and Safety Code Section 33492.71, subsection (c)(1)(A) or (b) the Administrator, as successor in interest to the Authority upon its dissolution, pursuant to California Health and Safety Code Section 33492.71, subsection (c)(1)(D), as applicable.

Pledged Tax Revenues means, for any Fiscal Year, after having made all payments required to be made under and pursuant to that certain Senior Loan, all Tax Revenues received by the Agency for such Fiscal Year; provided that Pledged Tax Revenues for any Fiscal Year shall not exceed (a) the Debt Service for such Fiscal Year (less any amounts then on