Issuance of PID Bonds Sample Clauses

Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to authorize the issuance of PID Bonds in one or more series up to an aggregate principal amount of $8,000,000 to reimburse the Public Improvements Project Costs. The Public Improvements to be constructed and reimbursed in connection with the PID Bonds are detailed in Exhibit C which may be amended from time to time, and shall be as set forth in the Service and Assessment Plan for the PID or any updates thereto. The net proceeds from the sale of each series of PID Bonds (i.e., net of costs and expenses of issuance of each series of PID Bonds and amounts for debt service reserves and capitalized interest) will be used to reimburse the Public Improvement Project Costs. Notwithstanding anything in this Agreement, the issuance of PID Bonds and the levy of Assessments is a discretionary governmental action by the City Council and subject to the City’s approval and the issuance of PID Bonds is also subject to market conditions at the time of issuance. The issuance of PID Bonds and the levy of Assessments is an action to be taken by a future City Council and such future City Council shall not be bound by the terms of this Agreement with respect to the issuance of PID Bonds and the levy of Assessments.
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Issuance of PID Bonds. Subject to the terms and conditions set forth in this Article V, the City has the authority to issue Phased PID Bonds to pay for the Actual Costs with respect to the Public Improvements as contemplated in Sections 4.02. The City will use good faith efforts to issue Phased PID bonds after receiving and thoroughly reviewing the Bond Issuance Request for the Developer provided that Developer can reasonably demonstrate to the City and its financial advisors that (i) an acceptable Market Study Analysis have been provided, (ii) there is sufficient security for the PID Bonds, based upon the market conditions existing at the time of such proposed sale, (iii) the City shall have obtained the Appraisal and any other financial analysis required hereby, and (iv) such request complies with the provisions for issuing PID bonds in any PID policy approved by the City, including any requirements related to level debt service for PID Bonds.
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Issuance of PID Bonds. Section 3.02(c ) (ii) is deleted, along with any and all reference in the Reimbursement Agreement relative to the requirement of (i) a minimum value to lien ratio, and (ii) an appraisal from a MAI appraiser.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to authorize the issuance of PID Bonds in one or more series (each to coincide with the Developer’s phased development of the Property) up to an aggregate principal amount of $31,250,000 to pay for, reimburse or acquire the Public Improvements benefitting the Property. The Public Improvements to be constructed and funded in connection with the PID Bonds are detailed in Exhibit E, which may be amended from time to time upon approval of the City Representative, and in the Service and Assessment Plan for the PID or any updates thereto. The PID Bond Proceeds from the sale of each series of PID Bonds will be used to pay for, reimburse or acquire the Public Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary governmental action by the City Council and subject to its ongoing discretion and decision and is further conditioned upon the adequacy of the bond security and the financial ability and obligation of the Developer to pay the Developer Cash Contribution, if any, and perform its obligations hereunder.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to levy Assessments on the Property and thereafter authorize the issuance of PID Bonds in one or more series (each to coincide with the Developer’s phased development of the single-family portion of the Property) up to an aggregate principal amount of $8,500,000 to reimburse the Public Improvements Project Costs. The Public Improvements to be constructed and reimbursed in connection with the PID Bonds are detailed in Exhibit C, which may be amended from time to time, and in the Service and Assessment Plan for the PID or any updates thereto. The net proceeds from the sale of each series of PID Bonds (i.e., net of costs and expenses of issuance of each series of PID Bonds and amounts for debt service reserves and capitalized interest) will be used to reimburse the Public Improvement Project Costs. Notwithstanding anything in this Agreement, the issuance of PID Bonds and the levy of Assessments is a discretionary governmental action by the City Council and subject to the City’s approval and the issuance of PID Bonds is also subject to market conditions at the time of issuance. The issuance of PID Bonds and the levy of Assessments is an action to be taken by a future City Council and such future City Council shall not be bound by the terms of this Agreement with respect to the issuance of PID Bonds and the levy of Assessments.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to authorize the issuance of the PID Bonds up to an aggregate principal amount of $26,000,000 to reimburse Developer for Authorized Improvements Costs. The Authorized Improvements to be constructed, reimbursed and funded in connection with the PID Bonds are detailed in Exhibit C, and in the Service and Assessment Plan including any updates thereto. The PID Bond proceeds will be used to pay for, reimburse or acquire the Authorized Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary action by the City Council and is further conditioned upon the adequacy of the bond security and other applicable conditions, including but not limited to conditions for issuance of PID Bonds set forth in the Development Agreement.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article III, the City intends to authorize the issuance of the PID Bonds up to an aggregate principal amount of $9,225,000 to reimburse or acquire the Authorized Improvements. The Authorized Improvements to be constructed, reimbursed and funded in connection with the PID Bonds are detailed in Exhibit C, and in the Service and Assessment Plan or any updates thereto. The PID Bond proceeds will be used to pay for, reimburse or acquire the Authorized Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary action by the City Council and is further conditioned upon the adequacy of the bond security and other applicable conditions, including but not limited to conditions for issuance of PID Bonds set forth in the Development Agreement. It is anticipated by the Parties that the first issuance of PID Bonds will be issued when homes have been constructed upon 40% of the lots located within Phase I unless mutually agreed upon by the Parties. It is anticipated by the Parties that the second issuance of PID Bonds will be issued when homes have been constructed upon 40% of the lots located in Phase 2.
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Issuance of PID Bonds. (a) Subject to the terms and conditions set forth in this Article V, the City has created the PID and if approved by City Council, the City intends to authorize the issuance of PID Bonds in one or more series (each to coincide with the Developer's phased development of the Property and each a “Phase”) up to an aggregate principal amount of $30,000,000.00 to construct, reimburse or acquire the Public Improvements benefitting the Property. The Public Improvements to be constructed and funded in connection with the PID Bonds are detailed in Exhibit D-3, which may be amended from time to time upon approval of the City, and in the Service and Assessment Plan for the PID or any updates thereto. The net proceeds from the sale of each series of PID Bonds (i.e., net of costs and expenses of issuance of each series of PID Bonds and amounts for debt service reserves and capitalized interest) will be used to pay for, reimburse or acquire the Public Improvements. Notwithstanding the foregoing, the issuance of PID Bonds is a discretionary action by the City Council and is further conditioned upon the adequacy of the bond security and the financial ability and obligation of the Developer to pay the Developer Cash Contribution and perform its obligations hereunder.
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Related to Issuance of PID Bonds

  • Issuance of Notes The Owner Trustee is hereby authorized and directed on behalf of the Trust to execute, issue and deliver the Notes pursuant to the Indenture.

  • Issuance of Bonds Subject to the satisfaction of and compliance with all of the provisions, covenants and requirements of this Agreement, in order to provide funds for the payment of the Project Costs, the Issuer has authorized the issuance and delivery of the Bonds to the Initial Purchaser in accordance with the Indenture.

  • Issuance of Securities The Convertible Debentures are duly authorized and, upon issuance in accordance with the terms hereof, shall be duly issued, fully paid and nonassessable, are free from all taxes, liens and charges with respect to the issue thereof. The Conversion Shares issuable upon conversion of the Convertible Debentures have been duly authorized and reserved for issuance. Upon conversion or exercise in accordance with the Convertible Debentures the Conversion Shares will be duly issued, fully paid and nonassessable.

  • Issuance of Payments Payments shall be delivered as follows:

  • ISSUE OF GLOBAL NOTES 3.1 Subject to subclause 3.4, following receipt of a faxed copy of the applicable Final Terms signed by the Issuer, the Issuer authorises the Agent and the Agent agrees, to take the steps required of the Agent in the Procedures Memorandum.

  • Redemption of Bonds The Authority shall take, or cause to be taken, the actions required by the Indenture to discharge the lien created thereby through the redemption, or provision for payment or redemption, of all Bonds then Outstanding, or to effect the redemption, or provision for payment or redemption, of less than all the Bonds then Outstanding, upon receipt by the Authority and the Trustee from the Company of a notice designating the principal amount of the Bonds to be redeemed, or for the payment or redemption of which provision is to be made, and, in the case of redemption of Bonds, or provision therefor, specifying the date of redemption and the applicable redemption provision of the Indenture. Such redemption date shall not be less than 45 days from the date such notice is given (unless a shorter notice is satisfactory to the Trustee). Unless otherwise stated therein, such notice shall be revocable by the Company at any time prior to the time at which the Bonds to be redeemed, or for the payment or redemption of which provision is to be made, are first deemed to be paid in accordance with Article VIII of the Indenture. The Company shall furnish any moneys or Government Obligations (as defined in the Indenture) required by the Indenture to be deposited with the Trustee or otherwise paid by the Authority in connection with any of the foregoing purposes.

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