Revenues of the Tax definition

Revenues of the Tax means the avails or proceeds of the Tax, subject only to the prior payment of the reasonable and necessary costs and expenses of collecting and administering the Tax.

Revenues of the Tax means the avails or proceeds of the Tax.

Revenues of the Tax or “Taxes” means avails or proceeds of the one-half of one percent (1/2%) sales and use tax authorized at the election held within the corporate boundaries of the Issuer on July 15, 2000, which revenues are authorized to be funded into bonds under the Act and are pledged to the payment of the Bonds as herein provided.

Examples of Revenues of the Tax in a sentence

• In providing for the issuance of the Bonds, the Issuer does hereby covenant that it has a legal right to levy and collect the Tax, to issue the Bonds and to pledge the Revenues of the Tax as herein provided, and that the Bonds will have a lien and privilege on the Revenues of the Tax, subject only to the prior payment of the reasonable and necessary costs and expenses of administering and collecting the Tax.

• The Revenues of the Tax are hereby irrevocably and irrepealably pledged and dedicated in an amount sufficient for the payment of the Bonds and the Outstanding Parity Bonds in principal and interest as they shall respectively become due and payable, and for the other purposes hereinafter set forth in this Bond Ordinance.

• So long as any of the Bonds are outstanding and unpaid in principal or interest, the Issuer shall maintain and keep proper books of records and accounts separate and apart from all other records and accounts in which shall be made full and correct entries of all transactions relating to the collection and expenditure of the Revenues of the Tax, including specifically but without limitation, all reasonable and necessary costs and expenses of collection.

• The Issuer may not discontinue or decrease the Tax or permit to be discontinued or decreased the Tax in anticipation of the collection of which the Bonds have been issued, or in any way make any change which would diminish the amount of the Revenues of the Tax pledged to the payment of the Bonds and received by the Issuer, until all of such Bonds shall have been retired as to both principal and interest.

• Nothing herein contained shall be construed to prevent the Issuer from altering, amending or repealing from time to time as may be necessary the Sales Tax Ordinance or any subsequent ordinance or resolution providing with respect to the Revenues of the Tax, said alterations, amendments or repeals to be conditioned upon the continued preservation of the rights of the Owners with respect to the Revenues of the Tax.

More Definitions of Revenues of the Tax

Revenues of the Tax means the avails or proceeds of the Tax, which revenues are authorized to be funded into bonds under the Act and are pledged to the payment of the Bonds and the Outstanding Parity Bonds as herein provided, subject to the prior payment of the reasonable and necessary expenses of collecting and administering the Tax.

Revenues of the Tax means the net avails or proceeds of the Tax, after the reasonable and necessary expenses of collection and administration thereof have been paid therefrom.

Revenues of the Tax means the income and revenues derived by the Issuer from theTax.

Revenues of the Tax means the avails or proceeds of the Issuer’s one-fourth of one percent (1/4%) sales and use tax authorized at the election held within the corporate boundaries of the Issuer on October 17, 1981, the proceeds of which are pledged to the payment of the Bonds as hereinafter provided, subject to the prior payment of the reasonable and necessary expenses of collecting and administering the Tax.

Revenues of the Tax means the revenues from the Issuer's nine percent (9%) portion of the Tax.

Revenues of the Tax means the Issuer's portion (currently 50.3034%) of the net avails or proceeds of the special one percent (1%) sales and use tax being levied and collected by the Issuer pursuant to the Election and the Sales Tax Ordinance, after all reasonable and necessary costs and expenses of collecting and administering the Tax have been paid.

Revenues of the Tax or "Tax" means the avails or proceeds of the one percent (1%) sales and use tax authorized at a special election held within the corporate boundaries of the Issuer on September 18, 1965 and levied by the Sales Tax Ordinance, which is pledged to the payment of the Bonds as herein provided.