Common use of FINANCING OF PUBLIC IMPROVEMENTS Clause in Contracts

FINANCING OF PUBLIC IMPROVEMENTS. Each Owner may propose, and if requested by City shall cooperate in, the formation of any Financing District [see Section 1.1(r)]. To the extent that a Financing District is formed and sells bonds in order to finance reimbursements, the Owner which requested the formation of the Financing District may be reimbursed to the extent the requesting Owner spends funds or dedicates land for the establishment of public facilities. Nothing contained in this Agreement shall be construed as requiring the City or the City Council to form a Financing District.

FINANCING OF PUBLIC IMPROVEMENTS. Each Owner may propose, and if requested by City shall cooperate in, the formation of any Financing District [see Section 1.1(r)]. To the extent that a Financing District is formed and sells bonds in order to finance reimbursements, the Owner which requested the formation of the Financing District may be reimbursed to the extent the requesting Owner spends funds or dedicates land for the establishment of public facilities. Nothing contained in this Agreement shall be construed as requiring the City or the City Council to form a Financing District.