2024-102 Resolution - Laserfiche WebLink

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owner have agreed to the levy and collection of special assessments against your real property to be added to the Advanced Energy District in accordance with the Petition and the Advanced Energy District Documents. Special .Assessments will be levied and collected in any year however only in accordance with the Petition and only upon the sale of special assessment revenue bonds or other financing, the proceeds of which will be used to pay, the costs of the Authorized Improvements. The timing for the sale of special assessment revenue bonds to pay costs of Authorized Improvements under the Commercial -Industrial Program will depend on the number of and size of Authorized Improvements and market conditions. Sixth: Alter your filing of the Petition and your compliance with the Advanced Energy District Documents, the Advanced Energy District and its financial advisors, consultants and developers will advice you as an owner of Property in the District of the commencement of marketing of the special assessment revenue bonds, if applicable, or other financing that will determine the actual interest rate(s) to be paid on special assessment revenue bonds to pay costs of your Authorized Improvements. The Special Assessments that will be payable by you annually as a property owner in the Advanced Energy District as part of the Commercial -Industrial Program is calculated based upon (a) the cost of the Authorized Improvement, (b) federal and state subsidies received by you as owner of the Authorized Improvement, (c) the interest rates payable on the special assessment revenue bonds and (d) administrative charges levied by the participating political subdivision to pay administrative costs. See: The "Services Plan." No property owner participating in the Commercial -Industrial Program will be obligated w pay any Special Assessments under the Commercial -Industrial Program unless the property owner first executes an Assessment Schedule which will be prepared by the Advanced Energy District or its agents and staff only after the pricing of special assessment revenue bonds for the Commercial -Industrial Program. The Assessment Schedule will include a schedule of your annual or semiannual payments for participating in the Commercial -Industrial Program. Unless you agree with and execute the Assessment Schedule, you will not be responsible to pay Special Assessments under the Commercial - Industrial Program. If you however execute the Assessment Schedule, you are agreeing to the levy and collection of Special Assessments in accordance with the Advanced Energy District Documents. If you do not execute the Assessment Schedule, you may be responsible to pay certain administrative costs of the Advanced Energy District to remove the lien of the Special Assessments from your property. Seventh: The proceeds of the sale of special assessment revenue bonds will be deposited with a qualified trustee. Disbursement of proceeds from such sale from the trustee held construction fund to pay Authorized Improvement costs will require the signature of an officer of the Advanced Energy District and the signature of an authorized officer of the applicable property owner. A qualified installer must complete the installation of Authorized Improvements on your property. See "Authorized Improvements; Qualified Installers" below.