Authorized Improvements definition
Examples of Authorized Improvements in a sentence
Funds in the Assessment Reimbursement Fund shall only be used to pay Costs of the Authorized Improvements in accordance with this Agreement.
Such accounting will include a reconciliation of any un-advanced amounts out of the segregated accounts in the Project Fund under the applicable Indenture as compared to the remaining costs to complete each applicable Authorized Improvements.
Subject to the terms, conditions, and requirements contained herein, the City agrees to reimburse the Owner, and the Owner shall be entitled to receive from the City, the amount equal to the Actual Cost of the Authorized Improvements (the “Repayment Amount”) plus interest on the unpaid balance in accordance with the terms of this Agreement until , 20 (the “Maturity Date”); provided, however, the Repayment Amount shall not exceed $ .
It is hereby acknowledged that it is not intended that Developer will be reimbursed out of Assessments or Bond Proceeds for the Prior Expended Funds unless funds remain in the Project Fund created under the Indenture for the PID Bonds after all other Actual Costs of Authorized Improvements have been reimbursed to Developer.
The costs of some Authorized Improvements will be initially financed through Acquisition and Reimbursement Agreements.