Special Purpose Facility definition

Special Purpose Facility means any facility, improvement, structure, equipment or assets acquired or constructed on any land or in or on any structure or building constituting a part of the Airport System, the cost of construction, acquisition, cost of operation and maintenance of which are paid for by any user or users or paid by the Issuer from the proceeds of Special Purpose Bonds or sources other than Pledged Funds.

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Special Purpose Facility means any specific improvement undertaken by Authority for the benefit of one or more airlines or other Airport System tenants under the terms of a separate agreement that provides for, among other things (a) the payment of rentals or fees for the use or occupancy thereof in sufficient amounts to permit the financing of such improvement and payment of all costs thereof solely from such rentals or fees, and (b) the payments of the maintenance and operating cost of such improvement by the tenant or tenants thereof.

Special Purpose Facility means any capital improvement, equipment, or facility hereafter acquired, constructed, or leased by AUTHORITY from funds other than Revenues, or obligations payable from Revenues.

Examples of Special Purpose Facility in a sentence

Upon acceptance of the Irrevocable Offer, the City (through the Community Facilities District) shall maintain the Special Purpose Facility Park Improvements and Class A bike lane.
Developer’s obligation to maintain the Special Purpose Facility Park Improvements and the upgrade of the Class A bike lane shall be pursuant to Section 7(f)(iv) of this Agreement.
The Special Purpose Facility Park Improvements, including the upgrade of the Class A bike lane, are described in Exhibit E, attached hereto and incorporated herein by reference.
The Developer shall give notice to the City of the completion of the Special Purpose Facility Park Improvements upon completion of the construction of the Special Purpose Facility Park Improvements pursuant to the Notice requirements set forth in this Agreement and shall record the Irrevocable Offer of Developer’s property interests therein.
Developer shall post a performance and payment bond or surety bond in the amount of $7,500,000.00 to secure Developer’s construction of the Special Purpose Facility Park.
As of the date of acceptance of the Special Purpose Facility Park Improvements and Developer’s interest in the land upon which those improvements will be built, the Developer shall assign to the City all of the Developer’s rights in any warranties, guarantees, maintenance obligations or other evidence of contingent obligations of third persons with respect to the Special Purpose Facility Park Improvements.
As partial consideration for the City entering into this Agreement, in no event will the City be required to pay to the Developer any sum due to the reasonable value of the Special Purpose Facility Park being in excess of the amount of the fee that would otherwise be due pursuant to California Government Code Section 66477.
The Developer shall maintain the Special Purpose Facility Park in good and safe condition until the City’s acceptance of the Special Purpose Facility Park.
The Developer agrees to provide for the continued maintenance of the Special Purpose Facility Park by a Communities Facilities District formed pursuant to California Government Code Sections 53311, et.
If City does not approve the SUP, or other discretionary approvals necessary for the Development of the Project, the Developer shall be excused from performance of construction of the Special Purpose Facility Park Improvements and the dedication of its property interests in the Special Purpose Facility Park.

More Definitions of Special Purpose Facility

Special Purpose Facility means (a) additional water sources, including but not limited to, a new lake; or (b) such other facilities or projects as the Commission shall by resolution designate as a Special Purpose Facility, and the cost of construction and acquisition of which facilities are financed with the proceeds of Special Purpose Bonds, notes, or obligations as contemplated and permitted by the Indenture.