TAD Financing definition

TAD Financing means a Plan of Finance, contemplated in the Conceptual Plan, that involves TAD Increment which the City, in its sole discretion, has approved. Any TAD Financing shall not constitute indebtedness of the City and shall be payable solely from revenues pledged therefor by the City. This Agreement shall not be construed to obligate the City to issue bonds, incur debt or any other financial obligation of any kind, or to pledge or provide revenues generated from any source other than (subject to City approval) the TAD Increment.

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TAD Financing means those certain TAD Bonds, notes or other obligations issued by the City in accordance with O.C.G.A. § 36-44-3(12) or funds borrowed from financial institutions in accordance with O.C.G.A. § 36-44-16 of the Redevelopment Powers Law with respect to the TAD, that the City may issue or borrow as necessary to implement the provisions of the Redevelopment Plan, as provided in the City Resolution, which may include one or more series of bonds, notes or other obligations and which may be issued at one or more times.

TAD Financing means those certain tax allocation bonds, notes or other obligations issued by the City in accordance with O.C.G.A. §36-44-3(12) or funds borrowed from financial institutions in accordance with O.C.G.A. §36-44-16 of the Redevelopment Powers Law with

Examples of TAD Financing in a sentence

• The City and the Developer agree that the reimbursement under this ARTICLE 9 will be paid directly or indirectly (as from the proceeds of a TAD Financing funded from such Tax Allocation Increment) solely, and to the extent available, from the Tax Allocation Increment deposited into the TAD Fund (i.e., the special fund into which Tax Allocation Increment is required to be deposited pursuant to the provisions of the Redevelopment Powers Law).

• The term of this Agreement (the "Term") shall commence on the Effective Date, and this Agreement shall remain in full force and effect until: (i) all TAD Financing and eligible Redevelopment Costs have been paid in full; (ii) the Lilburn Main Street and Old Town District TAD #2 has been terminated by Resolution for other reasons; or (iii) twenty-five years have elapsed from the Effective Date, whichever first occurs.

• Unless otherwise authorized by the County in writing, no privately developed Project shall receive benefit of the County Tax Allocation Increment from either the TAD Special Fund or from the proceeds of TAD Financing in an amount which exceeds 15% of the total project value.

• All factual statements set forth in the representations and warranties of the Developer in this Agreement, or any schedule, exhibit, certificate or document prepared by the Developer pursuant to the provisions of this Agreement, are true in all material respects as of the Effective Date and will be true and accurate in all material respects as of the date of execution of any Phase Agreement, and the date of any Subproject Financing, including the closing of any TAD Financing.

• The authority to determine whether a Material Modification would impact the amount of any TAD Financing allocated to a Community Subproject shall rest solely with the City.

• To the best of the knowledge of the Gateway CID, all factual statements set forth in the representations and warranties of the Gateway CID in this Agreement or any schedule, exhibit, certificate or document prepared by the Gateway CID pursuant to the provisions of this Agreement are true in all material respects as of the Effective Date and will be true and accurate in all material respects as of the date of issuance and delivery of TAD Financing.

• Notwithstanding any decision by the County not to pledge the County Tax Allocation Increment beyond the Initial Financing Period, nothing in this Agreement shall obviate or diminish the pledge of the County Tax Allocation Increment toward the repayment of any TAD Financing then outstanding; any pledge of the County Tax Allocation Increment therefore shall remain pledged until such TAD Financing is completely satisfied.

More Definitions of TAD Financing

TAD Financing means ▇▇▇ ▇▇▇▇▇ issued by the City in accordance with §36-44-16 or revenue bonds issued by the City pursuant to O.C.G.A. §36-44-13(3) with respect to the Downtown Lilburn TAD #2, that the City may issue or borrow as necessary to implement the provisions of the Redevelopment Plan, as provided in the City Resolution, which may include one or more series of bonds, notes or other obligations and which may be issued at one or more times.

TAD Financing means those certain “Tax Allocation Bonds”, notes, other obligations or forms of financing issued by the City as defined in O.C.G.A. Section 36-44-3(12) of the Redevelopment Powers Law with respect to the New Town Center TAD that the City has issued since the TAD was formed (See Exhibit C for a summary of drawdowns from the Urban Redevelopment Agency of the City of Holly Springs, Georgia Revenue Bond Series 2019 through 2021) and/or may issue in the future as necessary to implement the provisions of the Redevelopment Plan, as provided in the City Resolution, which may include one or more series of bonds, notes or other obligations and which may be issued at one or more times within the term of this agreement, and which may be repaid in full or in part with Tax Allocation Increments generated within the New Town Center TAD.