Common use of SPECIAL LEVY Clause in Contracts

SPECIAL LEVY. The Special Levy, as defined in the Rate and Method of Apportionment of Special Levy (the “Rate and Method”) attached to the District General Plan as Exhibit shall be imposed on the taxable parcels of real property located in the PID (as identified in Section and Exhibit of the District General Plan) and the revenues of the Special Levy shall secure the debt service payments due on PID Bonds, as provided in the Act. (i) The PID may issue Special Levy Revenue Bonds in an estimated maximum aggregate principal amount of $ , in one or more series, the proceeds of which shall be used to defray the cost of constructing the Eligible Infrastructure not otherwise reimbursed to TSVI from other sources and for such other purposes authorized under the Act. (ii) At or after the time the PID has incurred a reimbursement obligation as provided in the Amended and Restated Master Development Agreement, the PID may issue reimbursement certificates or other obligations to ▇▇▇▇ providing for reimbursement of TSVI from accumulated Special Levy revenues for Reimbursable Costs. (iii) The Special Levy shall meet the following conditions, as set forth in Exhibit of the PID Feasibility Study:

SPECIAL LEVY. The Special Levy, as defined in the Rate and Method of Apportionment of Special Levy (the “Rate and Method”) attached to the District General Plan as Exhibit shall be imposed on the taxable parcels of real property located in the PID (as identified in Section and Exhibit of the District General Plan) and the revenues of the Special Levy shall secure the debt service payments due on PID Bonds, as provided in the Act. (i) The PID may issue Special Levy Revenue Bonds in an estimated maximum aggregate principal amount of $ , in one or more series, the proceeds of which shall be used to defray the cost of constructing the Eligible Infrastructure not otherwise reimbursed to TSVI from other sources and for such other purposes authorized under the Act. (ii) At or after the time the PID has incurred a reimbursement obligation as provided in the Amended and Restated Master Development Agreement, the PID may issue reimbursement certificates or other obligations to ▇▇▇▇ TSVI providing for reimbursement of TSVI from accumulated Special Levy revenues for Reimbursable Costs. (iii) The Special Levy shall meet the following conditions, as set forth in Exhibit of the PID Feasibility Study: