Sources of Revenues to Pay Tax Revenue Bond Debt Service Sample Clauses

Sources of Revenues to Pay Tax Revenue Bond Debt Service. Debt service on Tax Revenue Bonds payable in any calendar year, other than those costs paid with Tax Revenue Bond proceeds as described above in paragraph 2(a), shall be paid first from County Advanced Revenues available for such purpose; if such revenues are insufficient to pay such debt service, then second, from available revenues in the Surplus Fund; if the revenues previously described collectively are insufficient to pay such debt service, then third, from revenues derived from Special Assessments attributable to the Tax Revenue Bonds and defined as Special Assessment Part A in the Rate and Method and, if necessary, from Special Assessments attributable to the Special Assessment Bonds as provided in (b) above; if the revenues previously described collectively are insufficient to pay such debt service, then fourth, from available funds in the Tax Revenue Bond DSRF; and if the revenues previously described collectively are insufficient to pay all such costs, then from any available funds derived from the enforcement of the County’s rights and remedies in collecting delinquent Special Assessments. The Developer hereby acknowledges the County’s rights and remedies to enforce any such Special Assessment liens that are in arrears. For purposes of this paragraph 5(c) and paragraph 5(e) below, the phrase “available for such purpose” shall be without regard to whether the Board of Supervisors appropriates any such County Advanced Revenues to the CDA.
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Related to Sources of Revenues to Pay Tax Revenue Bond Debt Service

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