Transfer or Dedication Sample Clauses

Transfer or Dedication. The Agency, except as provided in (a) above, will in consideration of the City’s transfer of all the net proceeds from the City’s issuance of its general obligation bonds after payment of costs of issuance thereof, in an aggregate original stated principal amount not to exceed $25,000,000 pursuant to Ordinance No. 19843 adopted on March 4, 2013 by the City Council for the City of Lincoln, Nebraska, transfer or dedicate such portion of each Infrastructure Project which is of the type customarily publicly dedicated to the City. The Agency agrees that said proceeds shall be used by the Agency solely for the purpose of paying for the cost to acquire, construct, improve, or equip the Arena Project as an eligible facility under the Convention Center Facilities Financing Act (Neb. Rev. Stat. §§ 13-2601 to 13-2613 (Reissue 2012)). The transfer or dedication of such portion of the Infrastructure Project shall be made as and when completed to be maintained, operated and managed as City facilities and the Agency shall execute and deliver to the City any and all documents as may be requested by the City for such purpose. Prior to the City=s acceptance of such transfer or dedication of any portion of any Infrastructure Project to the City, the Director of Public Works and Utilities of the City shall review and approve the design and construction of such Infrastructure Project as having been designed and constructed in substantially the same manner as comparable City facilities.