Common use of Availability of Funds and Constitutional Limitations on Debt Clause in Contracts

Availability of Funds and Constitutional Limitations on Debt. Financial obligations of the District payable after the current Fiscal Year are contingent upon funds for that purpose being appropriated, budgeted, and otherwise made available. The District may also be relying on state or federal funding to satisfy its payment obligations under the Agreement. The District’s payment obligations under the Agreement are subject to and conditioned upon the continuing availability of all funding for the purposes set forth in the Agreement. In the event funds are not appropriated, budgeted or otherwise made available, the District may terminate the Agreement as of the last day of the period for which funds were appropriated or monies made available for such purposes. All payments of the District under this Agreement constitute currently budgeted expenditures and do not constitute or give rise to a general obligation, indebtedness, or multiple-fiscal year direct or indirect debt or other financial obligation within the meaning of any constitutional or statutory provision or limitation. No provision of this Agreement shall be construed to pledge or to create a lien on any class or source of the District’s monies. No provision of this Agreement shall be construed to restrict the future issuance of any bonds or obligations of the District payable from any class or source of District moneys.

Availability of Funds and Constitutional Limitations on Debt. Financial obligations of the District payable after the current Fiscal Year are contingent upon funds for that purpose being appropriated, budgeted, and or otherwise made available. The District may also be relying on state or federal funding to satisfy its payment obligations under the Agreement. The District’s payment obligations under the Agreement are subject to and conditioned upon the continuing availability of all funding for the purposes set forth in the Agreement. In the event funds are not appropriated, budgeted or otherwise made available, the District may terminate the Agreement as of the last day of the period for which funds were appropriated or monies made available for such purposes. All payments of the District under this Agreement constitute currently budgeted expenditures and do not constitute or give rise to a general obligation, indebtedness, or multiple-fiscal year direct or indirect debt or other financial obligation within the meaning of any constitutional or statutory provision or limitation. .. No provision of this Agreement shall be construed to constitutes a pledge or to nor does it create a lien on any class or source of the District’s monies. No provision of this Agreement shall be construed to restrict restricts the future issuance of any bonds or obligations of the District payable from any class or source of District moneys.