Common use of Annual Appropriations Clause in Contracts

Annual Appropriations. The parties understand that this Agreement, and the payments and other monetary obligations of the County hereunder, shall not be construed as creating a multiple-fiscal year debt or other financial obligation of County within the meaning of Section 20(4)(b) of Article X of the Constitution of Colorado. This Agreement shall not obligate the County, directly or indirectly, to make any payments or meet any other monetary obligation required herein, beyond such payments or obligations as are appropriated for any fiscal year in which this Agreement is in effect. In the event County fails to budget and appropriate, on or before December 31 of each year, funds sufficient to pay all payments and other monetary obligations due for the next ensuing year, an Event of Non-appropriation shall be deemed to have occurred and this Agreement shall cease and terminate. If an Event of Non-appropriation occurs, County shall only be obligated to make payments to Landlord for those amounts that had previously been appropriated and budgeted and not for any ensuing budget years.

Annual Appropriations. The parties understand that this Agreement, and the payments and other monetary obligations of the County hereunder, shall not be construed as creating a multiple-fiscal year debt or other financial obligation of County within the meaning of Section 20(4)(b) of Article X of the Constitution of Colorado. This Agreement shall not obligate the County, directly or indirectly, to make any payments or meet any other monetary obligation required herein, beyond such payments or obligations as are appropriated for any fiscal year in which this Agreement is in effect. In the event County fails to budget and appropriate, on or before December 31 of each year, funds sufficient to pay all payments and other monetary obligations due for the next ensuing year, an Event of Non-appropriation shall be deemed to have occurred and this Agreement shall cease and terminate. If an Event of Non-Non- appropriation occurs, County shall only be obligated to make payments to Landlord for those amounts that had previously been appropriated and budgeted and not for any ensuing budget years.