Pid Bonds Clause Samples

Pid Bonds. The City, in its sole, legislative discretion, may issue PID Bonds, in one or more series, when and if the City Council determines it is financially feasible for the purposes of: (a) paying all or a portion of the Reimbursement Agreement Balance; or (b) paying PID Project Costs directly. PID Bonds issued for such purpose will be secured by and paid solely as authorized by the Bond Indenture. Upon the issuance of PID Bonds for such purpose, ▇▇▇▇▇▇▇▇▇'s right to receive payments each year in accordance herewith shall be subordinate to the deposits required under the Bond Indenture related to any outstanding PID Bonds. The failure of the City to issue PID Bonds shall not constitute a “Failure” by the City or otherwise result in a “Default” by the City. Upon the issuance of the PID Bonds, Developer has a duty to construct related PID Projects and shall not be relieved of such duty even if there are insufficient funds in the PID Project Fund to pay PID Project Costs.
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Pid Bonds. The City, in its sole, legislative discretion, may issue PID Bonds, in one or more series, when and if the City Council determines it is financially feasible for the purposes of: (1) paying a Reimbursement Obligation (as provided in the applicable Reimbursement Agreement); or (2) paying directly Actual Costs of Authorized Improvements described in the applicable Indenture. PID Bonds issued for such purpose will be secured by and paid solely as authorized by the applicable Indenture. The failure of the City to issue PID Bonds shall not constitute a “Failure” by the City or otherwise result in a “Default” by the City. Upon the issuance of the PID Bonds, the Developer has a duty to construct those Authorized Improvements described in the applicable Indenture. The Developer shall not be relieved of its duty to construct or cause to be constructed such improvements even if there are insufficient funds in the PID Project Fund to pay the Actual Costs. This Agreement shall apply to all of the PID Bonds issued by the City whether in one or more series, and no additional financing agreement shall be required for future series of PID Bonds.
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Pid Bonds. The City, in its sole, legislative discretion, may issue PID Bonds, in one or more series, when and if the City Council determines it is financially feasible for the purpose of paying directly Actual Costs of Authorized Improvements. PID Bonds issued for such purpose will be secured by and paid solely as authorized by the applicable Bond Indenture. The failure of the City to issue PID Bonds shall not constitute a "Failure" by the City or otherwise result in a "Default" by the City. Upon the issuance of PID Bonds, the Developer has a duty to construct those Authorized Improvements described in the applicable Bond Indenture. This Agreement shall apply to all PID Bonds issued by the City whether in one or more series and no additional reimbursement agreement shall be required for any future series of PID Bonds.
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Pid Bonds. The City, in its sole, legislative discretion, may issue PID Bonds, in one or more series, when and if the City Council determines it is financially feasible for the purposes of paying PID Project Costs directly. PID Bonds issued for such purpose will be secured by and paid solely as authorized by the applicable Bond Indenture. Upon the issuance of PID Bonds for such purpose, Developer’s right to receive payments each year in accordance herewith shall be subordinate to the deposits required under the applicable Bond Indenture related to any outstanding PID Bonds. The failure of the City to issue PID Bonds shall not constitute a Failure by the City or otherwise result in a Default by the City. Upon the issuance of PID Bonds, Developer has a duty to construct the related PID Projects and shall not be relieved of such duty even if there are insufficient funds in the applicable PID Project Fund to pay PID Project Costs. If the City issues PID Bonds under this Section 3.4 of this Agreement, such issuance shall be at the same meeting of the City Council at which Assessments are levied.
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Pid Bonds. The City, in its sole, legislative discretion, may issue PID Bonds, in one or more series, when and if the City Council determines it is financially feasible for the purposes of: (a) paying all or a portion of the Reimbursement Agreement Balance; or (b) paying Phase 2 and 3 Authorized Improvements Costs directly. PID Bonds issued for such purpose will be secured by and paid solely as authorized by the Bond Indenture. Upon the issuance of PID Bonds for such purpose, Developer's right to receive payments each year in accordance with Section 3.3 shall be subordinate to the deposits required under the Bond Indenture related to any outstanding PID Bonds. The failure of the City to issue PID Bonds shall not constitute a “Failure” by the City or otherwise result in a “Default” by the City. Upon the issuance of the PID Bonds, Developer has a duty to construct those Phase 2 and 3
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Pid Bonds. (a) City, in its sole, legislative discretion, may issue PID Bonds, in one or more series, when and if City’s City Council determines it is financially feasible for the purposes of: (1) paying the Reimbursement Agreement Balance; or (2) paying directly PID Projects Cost described in the applicable Indenture. PID Bonds issued for such purpose will be secured by and paid solely as authorized by the applicable Indenture. Upon the issuance of PID Bonds for such purpose, Owner's right to receive payments each year in accordance with Section 2.02 hereof shall be subordinate to the deposits required under the applicable Indenture related to any outstanding PID Bonds, and Owner shall be entitled to receive funds pursuant to the flow of funds provisions of the applicable Indenture. The failure of City to issue PID Bonds shall not constitute a default by City under this Agreement. Upon the issuance of PID Bonds, Owner has a duty to construct the PID Projects described in the applicable Indenture. Owner shall not be relieved of its duty to construct or cause to be constructed such Authorized Improvements even if there are insufficient funds in the PID Project Fund to pay the PID Costs. This Agreement shall apply to all PID Bonds issued by City whether in one or more series, and no additional reimbursement agreement shall be required for future series of PID Bonds. (b) Pursuant to the Development Agreement, City may issue PID Bonds solely for the purpose of acquiring or constructing PID Projects or any other purposes authorized by the PID Act, subject to the satisfaction of the provisions and conditions set forth in Article VII of the Development Agreement including, but not limited to, Section 7.03. The issuance of PID Bonds shall be at the sole, legislative discretion of City and is subject to the provisions of the Development Agreement and this Agreement. With regard to City's issuance of PID Bonds, in the event of any irreconcilable conflict between this Agreement and the Development Agreement, this Agreement shall control. In addition to the satisfaction of the conditions contained in the Development Agreement, the issuance of PID Bonds is further subject to the following conditions: (1) Recommendation of City's financial advisor, that sale of the PID Bonds to finance all or a portion of the PID Costs is feasible and prudent; (2) Receipt of a bona fide bid for the PID Bonds through either competitive or negotiated sale; (3) Registration of the PID Bonds by the Co...
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Pid Bonds 
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Related to Pid Bonds

  • The Bonds Each Class of Bonds shall be registered in the name of a nominee designated by the Depository. Beneficial Owners will hold interests in the Bonds through the book- entry facilities of the Depository in minimum initial Bond Principal Balances of $25,000 and integral multiples of $1 in excess thereof. The Indenture Trustee may for all purposes (including the making of payments due on the Bonds) deal with the Depository as the authorized representative of the Beneficial Owners with respect to the Bonds for the purposes of exercising the rights of Holders of the Bonds hereunder. Except as provided in the next succeeding paragraph of this Section 4.01, the rights of Beneficial Owners with respect to the Bonds shall be limited to those established by law and agreements between such Beneficial Owners and the Depository and Depository Participants. Except as provided in Section 4.08 hereof, Beneficial Owners shall not be entitled to definitive certificates for the Bonds as to which they are the Beneficial Owners. Requests and directions from, and votes of, the Depository as Holder of the Bonds shall not be deemed inconsistent if they are made with respect to different Beneficial Owners. The Indenture Trustee may establish a reasonable record date in connection with solicitations of consents from or voting by Bondholders and give notice to the Depository of such record date. Without the consent of the Issuer and the Indenture Trustee, no Bond may be transferred by the Depository except to a successor Depository that agrees to hold such Bond for the account of the Benefic▇▇▇ Owners.

  • Refunding Bonds In the event that an offer shall be made by an obligor of any of the Bond in a Trust to issue new obligations in exchange and substitution for any issue of Bonds pursuant to a plan for the refunding or refinancing of such Bonds, the Depositor shall instruct the Trustee in writing to reject such offer and either to hold or sell such Bonds, except that if (1) the issuer is in default with respect to such Bonds or (2) in the opinion of the Depositor, given in writing to the Trustee, the issuer will probably default with respect to such Bonds in the reasonably foreseeable future, the Depositor shall instruct the Trustee in writing to accept or reject such offer or take any other action with respect thereto as the Depositor may deem proper. Any obligation so received in exchange shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as the Bonds originally deposited hereunder. Within five days after such deposit, notice of such exchange and deposit shall be given by the Trustee to each Unitholder of such Trust, including an identification of the Bonds eliminated and the securities substituted therefor.

  • Bonds The Contractor shall furnish both a performance bond and a payment bond and shall pay the premiums thereon as a Cost of the Work. The Performance Bond shall guarantee the full performance of the Contract.