Issuance of PID Bonds Sample Clauses

Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article V, the City has created the PID and if approved by City Council, the City intends to authorize the issuance of PID Bonds in one or more series (each to coincide with the Developer's phased development of the Property and each a “Phase”) up to an aggregate principal amount of $30,000,000.00 to construct, reimburse or acquire the Public Improvements benefitting the Property. The Public Improvements to be constructed and funded in connection with the PID Bonds are detailed in Exhibit D-3, which may be amended from time to time upon approval of the City, and in the Service and Assessment Plan for the PID or any updates thereto. The net proceeds from the sale of each series of PID Bonds (i.e., net of costs and expenses of issuance of each series of PID Bonds and amounts for debt service reserves and capitalized interest) will be used to pay for, reimburse or acquire the Public Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary action by the City Council and is further conditioned upon the adequacy of the bond security and the financial ability and obligation of the Developer to pay the Developer Cash Contribution and perform its obligations hereunder.
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Issuance of PID Bonds. Section 3.02(c ) (ii) is deleted, along with any and all reference in the Reimbursement Agreement relative to the requirement of (i) a minimum value to lien ratio, and (ii) an appraisal from a MAI appraiser.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to authorize the issuance of the PID Bonds up to an aggregate principal amount of $26,000,000 to reimburse Developer for Authorized Improvements Costs. The Authorized Improvements to be constructed, reimbursed and funded in connection with the PID Bonds are detailed in Exhibit C, and in the Service and Assessment Plan including any updates thereto. The PID Bond proceeds will be used to pay for, reimburse or acquire the Authorized Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary action by the City Council and is further conditioned upon the adequacy of the bond security and other applicable conditions, including but not limited to conditions for issuance of PID Bonds set forth in the Development Agreement.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to authorize the issuance of PID Bonds in one or more series (each to coincide with the Developer’s phased development of the Property) up to an aggregate principal amount of $31,250,000 to pay for, reimburse or acquire the Public Improvements benefitting the Property. The Public Improvements to be constructed and funded in connection with the PID Bonds are detailed in Exhibit E, which may be amended from time to time upon approval of the City Representative, and in the Service and Assessment Plan for the PID or any updates thereto. The PID Bond Proceeds from the sale of each series of PID Bonds will be used to pay for, reimburse or acquire the Public Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary governmental action by the City Council and subject to its ongoing discretion and decision and is further conditioned upon the adequacy of the bond security and the financial ability and obligation of the Developer to pay the Developer Cash Contribution, if any, and perform its obligations hereunder.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to levy Assessments on the Property and thereafter authorize the issuance of PID Bonds in one or more series (each to coincide with the Developer’s phased development of the single-family portion of the Property) up to an aggregate principal amount of $8,500,000 to reimburse the Public Improvements Project Costs. The Public Improvements to be constructed and reimbursed in connection with the PID Bonds are detailed in Exhibit C, which may be amended from time to time, and in the Service and Assessment Plan for the PID or any updates thereto. The net proceeds from the sale of each series of PID Bonds (i.e., net of costs and expenses of issuance of each series of PID Bonds and amounts for debt service reserves and capitalized interest) will be used to reimburse the Public Improvement Project Costs. Notwithstanding anything in this Agreement, the issuance of PID Bonds and the levy of Assessments is a discretionary governmental action by the City Council and subject to the City’s approval and the issuance of PID Bonds is also subject to market conditions at the time of issuance. The issuance of PID Bonds and the levy of Assessments is an action to be taken by a future City Council and such future City Council shall not be bound by the terms of this Agreement with respect to the issuance of PID Bonds and the levy of Assessments.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to authorize the issuance of the PID Bonds up to an aggregate principal amount of $9,225,000 to reimburse or acquire the Authorized Improvements. The Authorized Improvements to be constructed, reimbursed and funded in connection with the PID Bonds are detailed in Exhibit C, and in the Service and Assessment Plan or any updates thereto. The PID Bond proceeds will be used to pay for, reimburse or acquire the Authorized Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary action by the City Council and is further conditioned upon the adequacy of the bond security and other applicable conditions, including but not limited to conditions for issuance of PID Bonds set forth in the Development Agreement. It is anticipated by the Parties that the first issuance of PID Bonds will be issued when homes have been constructed upon 40% of the lots located within Phase I unless mutually agreed upon by the Parties. It is anticipated by the Parties that the second issuance of PID Bonds will be issued when homes have been constructed upon 40% of the lots located in Phase 2.
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Issuance of PID Bonds. Subject to the terms and conditions set forth in this Article V, the City has the authority to issue Phased PID Bonds to pay for the Actual Costs with respect to the Public Improvements as contemplated in Sections 4.02. The City will use good faith efforts to issue Phased PID bonds after receiving and thoroughly reviewing the Bond Issuance Request for the Developer provided that Developer can reasonably demonstrate to the City and its financial advisors that (i) an acceptable Market Study Analysis have been provided, (ii) there is sufficient security for the PID Bonds, based upon the market conditions existing at the time of such proposed sale, (iii) the City shall have obtained the Appraisal and any other financial analysis required hereby, and (iv) such request complies with the provisions for issuing PID bonds in any PID policy approved by the City, including any requirements related to level debt service for PID Bonds.
Sample 1
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Related to Issuance of PID Bonds

  • Issuance of Additional Notes The Company may, subject to Article Four of this Indenture, issue additional Notes under this Indenture. The Notes issued on the Closing Date and any additional Notes subsequently issued shall be treated as a single class for all purposes under this Indenture.

  • Issuance of Units By executing the Reference Trust Agreement and receipt for deposited Securities, the Trustee will thereby acknowledge receipt of the deposit of the Securities listed in the Schedules to the Reference Trust Agreement and referred to in Section 2.01 hereof, and simultaneously with the receipt of said deposit, has recorded on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Reference Trust Agreement and has delivered, or on the order of the Depositor will deliver, in exchange for such Securities, cash or a Letter of Credit, documentation evidencing the ownership of the number of Units specified or, if requested by the Depositor, the ownership by DTC of all such Units and will cause such Units to be credited at DTC to the account of the Depositor or, pursuant to the Depositor's direction and as hereafter provided, the account of the issuer of the Letter of Credit referred to in Section 2.01. The number of Units in a Trust may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, on any day on which the Depositor is the only Unitholder of such Trust, which revised number of Units shall be recorded by the Trustee on its books. Effective as of the Evaluation Time on October 1, 2014, in the event that the aggregate value of Securities in the Trust has increased since the evaluation on September 30, 2014, the Trustee shall issue such number of additional Units to the Unitholder of outstanding Units as of the close of business on October 1, 2014, that the price per Unit computed as of the Evaluation Time on October 1, 2014, plus the maximum applicable sales charge shall equal approximately $10 per Unit (based on the number of Units outstanding as of said Evaluation Time, including the additional Units issued pursuant to this sentence); in the event that the aggregate value of Securities in the Trust Fund has decreased since the evaluation on September 30, 2014, there will be a reverse split of the outstanding Units, and said Unitholder will surrender to the Trustee for cancellation such number of Units, that the price per Unit computed as of the Evaluation Time on October 1, 2014, plus the maximum applicable sales charge shall equal approximately $10 per Unit (based on the number of Units outstanding as of said Evaluation Time, reflecting cancellation of Units pursuant to this sentence). The Trustee hereby agrees that on the date of any deposit of additional Securities pursuant to Section 2.05 it shall acknowledge that the additional Securities identified therein have been deposited with it by recording on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units to be issued in respect of such additional Securities so deposited.

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