Financing Parameters. (a) Any public financing shall be secured solely by assessments or special taxes levied within the respective district, proceeds of the bonds issued that are placed in a bond fund, reserve fund or other such fund for the financing and investment earnings thereon. City’s general fund shall not, unless otherwise agreed in writing by City, be pledged to the repayment of any public financing. (b) The payment to City of actual initial and annual administrative costs of City to be incurred in connection with any Financing Mechanism shall be adequately assured through the inclusion in any assessment or special tax methodology of an appropriate provision for such costs as estimated by City, to the end that City’s general fund shall not be called upon to provide for initial or any annual administrative costs related to any Financing Mechanism.
Appears in 3 contracts
Sources: Development Agreement, Development Agreement, Development Agreement