Tax Allocation Debt definition

Tax Allocation Debt is defined in the Financing Plan. “Transferee” is defined in the DDA.
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Tax Allocation Debt means any bonded indebtedness of the Agency issued for the purpose of financing Qualified Project Costs that is secured by a pledge of Shipyard Net Available Increment or Candlestick Net Available Increment, but not including any Supplemental Obligation Financing or CFD Bonds. The Agency may include Tax Allocation Debt for the Project within a bond issue covering Agency areas outside of the Project Site, but the defined term will mean only that portion of the debt that is allocated to the Project.
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Tax Allocation Debt is defined in the Financing Plan.
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Examples of Tax Allocation Debt in a sentence

  • In connection with the issuance of any Tax Allocation Debt, the Agency shall establish one or more debt service reserve funds.

  • In addition, the Developer acknowledges and agrees that any decision by the Developer to initiate a Reassessment Proceeding will be accounted for in the Agency’s risk analysis in connection with the issuance of Tax Allocation Debt in the future.

  • While the Agency shall comply with the Bonded Indebtedness Limit in the issuance of Tax Allocation Debt, the Bonded Indebtedness Limit does not limit the amount of the “indebtedness” of the Agency under this Financing Plan.

  • The Agency has agreed to issue Tax Allocation Debt at Developer’s request as set forth in Section 3.1(c), and the Developer acknowledges and agrees that reductions in the assessed value of Taxable Parcels could materially affect the Agency’s ability to pay scheduled debt service on the Tax Allocation Debt when due and constrain the Agency’s willingness to approve the issuance of Tax Allocation Debt.

  • The Developer acknowledges that the Agency is requesting prior written notice so the Agency Director can inform the members of the Agency Commission of the Developer’s intent to initiate a Reassessment Proceeding and the potential impact on outstanding Tax Allocation Debt.

  • If the Agency Director concludes that the Reassessment Proceedings may materially impact outstanding Tax Allocation Debt, the Agency Director may also recommend that the Agency provide a voluntary notice of the Developer’s intent to initiate a Reassessment Proceeding on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access site.

  • The Agency will have the right to reject any term that is inconsistent with the Funding Goals and agrees to issue Tax Allocation Debt to the extent that the terms of financing are consistent with the Funding Goals.

  • After paying or setting aside amounts needed for debt service due on Tax Allocation Debt secured by or payable from Candlestick Net Available Increment during the Agency Fiscal Year, the Agency will use Candlestick Net Available Increment to reimburse Developer’s Qualified Project Costs pursuant to this Financing Plan.

  • Developer may submit written requests that the Agency issue Tax Allocation Debt for purposes of this Financing Plan, specifying requested issuance dates, amounts, and main financing terms.

  • If the Agency procures any Project Grant, the Agency will be entitled to retain an amount equal to one-half (½) of the amount of such Project Grant that has been applied to Qualified Project Costs from the proceeds of the next available issuance of Tax Allocation Debt.