District Expenses definition

District Expenses means, beginning with calendar year 2022, the actual costs and expenses incurred by the District to administer the District and necessary to comply with the CID Act, the Redevelopment Agreement, and this Agreement, which, for calendar year 2022 shall equal $15,000 and, for each subsequent year, shall equal the preceding year’s District Expenses increased by 3% (unless a lesser amount is requested by the District). The District may establish a reserve account for the payment of extraordinary expenses in such reasonable amount as shall be determined by unanimous consent of the entire Board of Directors.

District Expenses means, beginning with calendar year 2022, the actual costs and expenses incurred by the District to administer the District and necessary to comply with the CID Act, the Redevelopment Agreement, and the District Project Agreement, which, for calendar year 2022 shall equal

District Expenses shall have the meaning set forth in the District Project Agreement.

Examples of District Expenses in a sentence

• If the Participation Contract is terminated, or if at any time the District applies any portion of the O/M Reserve to Initial Expenses or District Expenses due to the nonpayment by Brookfield Homes and the Developer described in the preceding sentence, then (i) Section 9.4(c) shall not apply, (ii) the District shall transfer any unspent balance of the O/M Reserve to the general operating accounts of the District and (iii) close the separate non-interest bearing account.

• The District shall only levy the O/M Tax in an amount necessary for the District Expenses and the O/M Expenses reflected in the District Budget for the applicable Fiscal Year of the District and only in reasonable amounts therefor.

• The obligation of Brookfield Homes and the Developer, or HOA, to pay the Shortfall pursuant to this Section shall only be effective until May 1 after the levy of the O/M Tax at $0.30 per $100.00 of net assessed limited property value results in actual collections equal to or greater than $250,000 for three consecutive Fiscal Years, and such collections are sufficient to pay all District Expenses reflected in the respective District Budget for such three consecutive Fiscal Years.

More Definitions of District Expenses

District Expenses means the costs of issuance of the Bonds incurred by the District.

District Expenses means the actual costs and expenses incurred by the District to administer the District and necessary to comply with the CID Act, the Redevelopment Agreement, and the District Project Agreement, which, for calendar year 2019 shall equal $12,000 and, for each subsequent year, shall equal the preceding year’s District Expenses increased by 3% (unless a lesser amount is requested by the District). (For certainty, the District Expenses for calendar year 2023 shall equal $13,506.11.)

District Expenses means the reasonable expenses and costs of the operation and administration of the District (but not O/M Expenses) including the reasonable expenses and costs incurred by the Municipality in connection with the formation of the District; its operations; its relationship with the Municipality; its development and maintenance of the website required by the Act; its issuance of the Assessment Bonds or the General Obligation Bonds or any similar matters and reasonable fees and related costs and expenses of staff of the Municipality, financial advisors, engineers, appraisers, attorneys and other consultants and including any overhead incurred by the Municipality with respect thereto and specifically allocated to the District Expenses. District Expenses also includes the amounts of the insurance premiums arising as a result of procuring insurance as described in Section 8.3 for the District (but not Brookfield and the Developer) and, to the extent necessary as a result of application to claims under such insurance, to pay the deductible described in Section 8.3.

District Expenses means the reasonable expenses and costs of the operation and administration of the District including the reasonable expenses and costs incurred by the Municipality in connection with the formation of the District; its operations; its relationship with the Municipality; its issuance of the Assessment Bonds or the General Obligation Bonds or any similar matters and reasonable fees and related costs and expenses of staff of the Municipality, financial advisors, engineers, appraisers, attorneys and other consultants and including any overhead incurred by the Municipality with respect thereto and specifically allocated to the District Expenses. The District may retain third party consultant services to assist the District in its operations and the reasonable costs of such services shall be included as District Expenses.

District Expenses means, beginning with calendar year 2019, the actual costs and expenses incurred by the District to administer the District and necessary to comply with the CID Act, the

District Expenses means the expenses and costs of the operation and administration of the District including, without limitation, the expenses and costs billed to the District by the Municipality for services relating directly or indirectly to the District, including but not limited to: overhead incurred by the Municipality in providing services to the District andthe operation and maintenance of the District’s website including searchable electronic records database pursuant to A.R.S. § 48-727; the expenses and costs of administering and operating the District, including the District Consulting Costs, District Insurance Expense and the costs, time and expenses of staff and overhead incurred by the District; the costs of issuance and administration of Bonds not paid with the proceeds of Bonds; and Initial Expenses not paid pursuant to Section 9.3 of this Agreement.