TRZ2 definition
Examples of TRZ2 in a sentence
In the event of default by the Town in making the scheduled payments, the Authority may direct the Tax Collector for the Town to pay all TRZ2 funds directly to the Authority until the Town’s Obligation is fully paid, provided that this shall not preclude the Authority from pursuit of other remedies to enforce its rights under this Assignment.
To increase the likelihood that incremental tax revenue from TRZ2 is adequate to make the scheduled payments, the Town agrees that it will not cause a reduction, abatement or exemption in TRZ2 or in the amount which is authorized to be collected if any proposed reduction, abatement or exemption would violate any of the terms of this Assignment or the Second Amendment or impair the Town’s ability to fully amortize the indebtedness shown in EXHIBIT A by 2038.
The annual payments reflect projections in the incremental tax revenue from TRZ2.