Net Taxes definition

Net Taxes means Gross Taxes minus amounts set aside to pay Administrative Expenses. “Nominee” shall mean the nominee of the Depository, which may be the Depository, as

Net Taxes means the amount of all Gross Taxes minus the Administrative Expense Requirement.

Net Taxes means Special Taxes less Administrative Expenses.

Examples of Net Taxes in a sentence

• The Bonds are not a legal or equitable pledge, charge, lien, or encumbrance upon any of the City’s property, or upon any of its income, receipts or revenues, except the Net Taxes and other amounts in the Special Tax Fund which are, under the terms of this Fiscal Agent Agreement and the Act, set aside for the payment of the Bonds and interest thereon and neither the members of the City Council of the City nor any persons executing the Bonds are liable personally on the Bonds by reason of their issuance.

• Notwithstanding anything to the contrary contained in this Fiscal Agent Agreement, the City will not be required to advance any money derived from any source of income other than the Net Taxes for the payment of the interest on or the principal of the Bonds, or for the performance of any covenants contained herein.

• Except for the Net Taxes, no other taxes are pledged to the payment of the Bonds.

• Notwithstanding any provision contained in this Fiscal Agent Agreement to the contrary, Net Taxes deposited in the Surplus Fund will no longer be considered to be pledged tothe Bonds, and none of the Surplus Fund, or amounts for Administrative Expenses retained by the City will be construed as a trust fund held for the benefit of the Owners.

• The District will not mortgage or otherwise encumber, pledge or place any charge upon any of the Special Taxes except as provided in this Indenture, and will not issue any obligation or security having a lien, charge, pledge or encumbrance upon the Net Taxes senior or superior to the Bonds or Parity Bonds or on a parity with the Bonds, other than Parity Bonds.

More Definitions of Net Taxes

Net Taxes means Gross Taxes minus amounts set aside to pay Administrative Expenses. “Ordinance” means Ordinance No. 3481 adopted by the legislative body of the District on February 25, 2020, as amended from time to time.

Net Taxes means Gross Taxes minus the Administrative Expenses in an amount not to exceed the Administrative Expenses Cap.

Net Taxes means Gross Taxes minus amounts set aside to pay Administrative Expenses up to the Administrative Expenses Cap.

Net Taxes means Gross Taxes minus amounts set aside to pay the Administrative Expense Requirement.

Net Taxes means Gross Taxes minus amounts set aside to pay AdministratiVe Expenses.

Net Taxes means the taxes charged and payable for a tax year. In the case of a school district or a joint vocational school district, the net taxes of a prior year equal the taxes charged and payable for that year after the reductions required under section 319.301 of the Revised Code, including any adjustment required for the district under division (E) of that section and paragraph (E) or (F) of this rule. In the case of a tax levy for which an estimated tax reduction factor is used pursuant to division (H) of section 319.301 of the Revised Code and paragraph (A) of rule 5703-25-48 of the Administrative Code, the net taxes of a prior year excludes the amount of taxes attributable to any portion of the tax reduction factors used in that year to adjust for an overpayment or underpayment of taxes in the second preceding year caused by the use of such estimated factors.

Net Taxes means Gross Taxes minus amounts permitted to be set aside prior to the payment of the principal of and interest on the Bonds and Parity Bonds in order to pay Administrative Expenses.