Examples of Acquisition Payments in a sentence
Under the Facilities Agreement, the County is obligated to pay to the Corporation or its assigns during the term thereof Acquisition Payments for the purchase of the Project Facilities, subject to the occurrence of an Event of Nonappropriation as set forth in Section 4.7 of the Facilities Agreement, and subject to the County’s right to exercise its purchase option as set forth in Section 9.1 of the Facilities Agreement.
The Corporation and the County understand and intend that the obligation of the County to pay Acquisition Payments hereunder shall constitute a current expense of the County and shall not in any way be construed to be a debt of the County in contravention of any applicable constitutional or statutory limitations or requirements concerning the creation of indebtedness by the County, nor shall anything contained herein constitute a pledge of the general tax revenues, funds, moneys or credit of the County.
The County’s obligation to make Acquisition Payments during the duration of this Facilities Agreement shall not be abated through accident or unforeseen circumstances.
A vote was called for with the following results: Voting Yea: Burke, Richardson, Lafontaine and Piazza Voting Nay: NoneAbsent: None BLIGHTED PROPERTYRe: TABLE approval to discuss 624 Highway 90 – Dora Land Alderman Burke moved, seconded by Alderman Lafontaine to TABLE approval to discuss blighted property issue concerning Jeffrey Lidman of Dora Land – 624 Highway 90.
From and after 1, 20 , the County is also granted the option to prepay Acquisition Payments on the due date of any Base Payments hereunder for the purpose of having such prepayments credited towards the purchase price of the Project Facilities.