Unrestricted Proceeds definition
Examples of Unrestricted Proceeds in a sentence
Notwithstanding the foregoing, the City agrees that it will comply with the provisions of the LRPMP that require payment of Net Unrestricted Proceeds to the Taxing Entities.
The City agrees that, consistent with the LRPMP, in connection with the conveyance of any of the Development Properties, the City will remit the Net Unrestricted Proceeds to the Alameda County Auditor-Controller for distribution to the Taxing Entities in accordance with each Taxing Entity’s pro rata share of the Tax Base.
The Net Unrestricted Proceeds from the sale will be distributed as property tax to each taxing entity in an amount proportionate to its share of property tax revenues pursuant to Health and Safety Code Section 34188.
This Agreement shall remain in full force and effect until the Net Unrestricted Proceeds from the sale of the last of the seven properties has been paid to the County Auditor-Controller for disbursement to the Taxing Entities, at which time it shall automatically terminate.
The City agrees that, consistent with the LRPMP, in connection with the subsequent conveyance of any of the Parcels, the City will remit the Net Unrestricted Proceeds to the Ventura County Auditor-Controller for distribution to the Taxing Entities in accordance with each Taxing Entity’s pro rata share of the Tax Base.