PILOT Account definition

PILOT Account means the separate segregated account within the Special Allocation Fund into which Payments in Lieu of Taxes are to be deposited.
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PILOT Account means an account held by the Escrow Agent into which the Pilot Payments shall be deposited.
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Examples of PILOT Account in a sentence

  • Payments in Lieu of Taxes shall be deposited into the PILOT Account within the Special Allocation Fund, and Economic Activity Taxes shall be deposited into the Economic Activity Account within the Special Allocation Fund.

  • Subject to the requirements of the Act and, with respect to Economic Activity Taxes, subject to annual appropriation by the City Council, the City will, promptly upon receipt thereof, deposit all Payments in Lieu of Taxes attributable to the Development Parcel into the PILOT Account and all Economic Activity Taxes attributable to the Development Parcel into the EATs Account within the Special Allocation Fund.

  • FIFTH, subject to the requirements of the underwriter of the Obligations, after all Reimbursable Project Costs have been paid, then on December 31st of each year until the Plan is terminated, the funds remaining in the PILOT Account and the Economic Activity Account, if any, shall be disbursed to the Taxing Districts in accordance with the Act.