ACKNOWLEDGMENTS PURSUANT TO AMENDED COST SHARING AGREEMENT Sample Clauses

ACKNOWLEDGMENTS PURSUANT TO AMENDED COST SHARING AGREEMENT. (a) The parties agree that the Rural Municipal Compensation Fund was established by Canada and Saskatchewan for the purpose of paying tax loss compensation for the benefit of Rural Municipalities which experience a reduction of Taxable Land as the result of the creation of Entitlement Reserves. Each of the parties agrees that:
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ACKNOWLEDGMENTS PURSUANT TO AMENDED COST SHARING AGREEMENT. (a) The parties agree that the Rural Municipal Compensation Fund was established by Canada and Saskatchewan for the purpose of paying tax loss compensation for the benefit of Rural Municipalities which experience a reduction of Taxable Land as the result of the creation of Entitlement Reserves. Each of the parties agrees that: (i) the tax loss compensation payable by Saskatchewan and Canada to the Rural Municipal Compensation Fund pursuant to the terms of the Amended Cost Sharing Agreement is in full satisfaction of any tax loss which a Rural Municipality may experience as a result of the establishment of an Entitlement Reserve within the Rural Municipality and for the purpose of enabling and requiring Rural Municipalities to continue to maintain Provincial Roads and Road Allowances for which such Rural Municipalities are responsible located within, adjacent to or providing access to Entitlement Reserves at the ordinary standard established for other roads of the same classification within the Rural Municipality; and (ii) payments by Canada and Saskatchewan to the Rural Municipal Compensation Fund are not intended as compensation to a Rural Municipality for additional costs which may be incurred by such Rural Municipality as the result of substantial unanticipated increases relating to the capital funding or operational costs associated with the upgrading of Provincial Roads or Road Allowances within such Rural Municipality for which such Rural Municipality is responsible, whether in respect of Provincial Roads or Road Allowances. within, adjacent to or providing access to Entitlement Reserves.
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