Financing District Sample Clauses
The Financing District clause establishes a designated geographic area within which special financing mechanisms, such as assessments or taxes, are used to fund public improvements or infrastructure projects. Typically, property owners within the district may be subject to additional charges that are used to repay bonds or loans taken out for these improvements, such as roads, utilities, or parks. This clause ensures that the costs of new infrastructure are fairly distributed among those who directly benefit, providing a structured method for funding community enhancements without burdening the general public.
POPULAR SAMPLE Copied 1 times
Financing District
Financing District. (District No. 3) (the commercial district), at its option, may directly perform and charge for operation and maintenance of the commercial common areas including but not limited to landscape and snow plowing. If so, the Coordinating District will not provide such commercial area operation and maintenance nor receive funding for any commercial area maintenance.
Financing District. 4.1 Consent to Creation of District and/or Water Supply Corporation: In accordance with Texas Local Government Code, Section 42.042, the City has considered the creation of conservation and reclamation districts, authorized pursuant to Texas Constitution Article III, Section 52, or Article XVI, Section 59 covering all or portions of the Land (the “Districts”). The City indicates its conceptual support for creation of the Districts pursuant to Section 42.042, Texas Local Government Code at the time of approval of this Agreement. The City’s actual consent, if given, shall be evidenced by separate documents. The City agrees that any District may annex or exclude land owned by Owner that is located within the boundaries of the Project and the City’s ETJ and may be divided in accordance with Chapters 49, 51, 53 and/or 54, Texas Water Code, or other Water Code provisions that may be applicable, in furtherance of Owners’ development goals pursuant to this Agreement. Provided, however, the Parties recognize that he Property may lie within the City’s “potential Service Area” in the “Wholesale Water Supply Agreement Between LCRA and the City of Dripping Springs” dated March 11, 2003. Additionally, the City’s consent is conditioned upon the City being unable or refusing to provide water and/or wastewater services to the Property. The City acknowledges that the Owner may create a water supply corporation to service all or a portion of the Land and consents to such corporation.