Budget and Appropriation Sample Clauses

Budget and Appropriation. (a) The officer of the City at any time charged with the responsibility for formulating budget proposals shall include in the budget proposals for review and consideration by the City Council in any Fiscal Year in which this Contract shall be in effect, items for all Installment Payments and any additional payments required for such Fiscal Year under this Contract. Any budget item referred to in this Section shall be deleted from the applicable budget by the City Council only by the adoption of a resolution to such effect containing a statement of its reasons therefore, which resolution shall be adopted by roll-call vote and shall be spread on the minutes of the City Council. The City shall furnish the Lender with copies of its annual budget promptly after its adoption and copies of any amended budget affecting appropriations for Installment Payments or additional payments required under this Contract or the Deed of Trust; provided, however, that the City’s obligation to provide the Lender with such information may be satisfied by publically releasing such information on the City’s website. The City shall promptly provide written notice to the Lender of any Event of Nonappropriation. (b) NO PROVISION OF THIS CONTRACT SHALL BE CONSTRUED OR INTERPRETED AS CREATING A PLEDGE OF THE FAITH AND CREDIT OF THE CITY WITHIN THE MEANING OF ANY CONSTITUTIONAL DEBT LIMITATION. NO PROVISION OF THIS CONTRACT SHALL BE CONSTRUED OR INTERPRETED AS CREATING A DELEGATION OF GOVERNMENTAL POWERS NOR AS A DONATION BY OR A LENDING OF THE CREDIT OF THE CITY WITHIN THE MEANING OF THE CONSTITUTION OF THE STATE. THIS CONTRACT SHALL NOT DIRECTLY OR INDIRECTLY OR CONTINGENTLY OBLIGATE THE CITY TO MAKE ANY PAYMENTS BEYOND THOSE APPROPRIATED IN THE SOLE DISCRETION OF THE CITY FOR ANY FISCAL YEAR IN WHICH THIS CONTRACT IS IN EFFECT; PROVIDED, HOWEVER, THAT ANY FAILURE OR REFUSAL BY THE CITY TO APPROPRIATE FUNDS WHICH RESULTS IN THE FAILURE BY THE CITY TO MAKE ANY PAYMENT COMING DUE HEREUNDER WILL IN NO WAY OBVIATE THE OCCURRENCE OF THE EVENT OF DEFAULT RESULTING FROM SUCH NONPAYMENT. NO DEFICIENCY JUDGMENT MAY BE RENDERED AGAINST THE CITY IN ANY ACTION FOR BREACH OF A CONTRACTUAL OBLIGATION UNDER THIS CONTRACT AND THE TAXING POWER OF THE CITY IS NOT AND MAY NOT BE PLEDGED DIRECTLY OR INDIRECTLY OR CONTINGENTLY TO SECURE ANY MONEYS DUE UNDER THIS CONTRACT. No provision of this Contract shall be construed to pledge or to create a lien on any class or source of the City’s moneys, nor shall an...

Budget and Appropriation. (a) The District covenants to take such action as may be necessary to include all Lease Payments and Additional Payments (to the extent the amount of such Additional Payments is known to the District at the time its annual budget is proposed) due hereunder in its annual budget and to make the necessary annual appropriations therefor, and to maintain such items to the extent unpaid for that Fiscal Year in its budget throughout such Fiscal Year. To the extent the amount of such payments becomes known after the adoption of the annual budget, such amounts shall be included and maintained in such budget as amended. During the Term of this Lease, the District will furnish annually, on or before June 30 of each year, to the Trustee a certificate of the District Representative stating that all Lease Payments and Additional Payments due hereunder for the applicable Fiscal Year have been included in its annual budget and the amount so included. (b) The covenants on the part of the District herein contained shall be deemed to be and shall be construed to be duties imposed by law and it shall be the ministerial duty of each and every public official of the District to take such action and do such things as are required by law in the performance of the official duty of such officials to enable the District to carry out and perform the covenants and agreements in this Lease agreed to be carried out and performed by the District.

Budget and Appropriation. To the fullest extent permitted and/or required by State law, the District shall cause the appropriate District official(s) to take any and all ministerial actions that may be necessary to facilitate the payment of the principal of and interest on the 2021 Sewer Notes and the payment of all other Obligations and to include the principal of and interest on the 2021 Sewer Notes and the payment of all other Obligations in the annual budget of the District (including any necessary appropriations related thereto).

Budget and Appropriation. Take such action as may be necessary to include in each of its annual budgets the payments required to be made by the District under this Agreement, the Indenture, the Fee Letter and Parity Debt, and to make the necessary annual appropriations for all such payments. If any payment of principal and interest on the Bonds (including Bank Bonds), Parity Debt or amounts payable under this Agreement and the Fee Letter requires the adoption by the District of a supplemental budget or appropriation, the District will promptly adopt the same. The covenants on the part of the District herein contained constitute duties imposed by law and it is the duty of each and every public official of the District to take such action and do such things as are required by law in the performance of the official duty of such officials to enable the District to carry out and perform the covenants and agreements agreed to be carried out and performed by the District.

Budget and Appropriation. The City covenants to take such action as may be necessary to include all Lease Payments and Additional Payments due hereunder in its proposed annual budget and its final adopted annual budget and to make the necessary appropriations for any amount of Lease Payments and Additional Payments to be paid therefrom. The City shall furnish to the Trustee a notification on or before each July 15 if it has not adopted such final annual budget providing for such payments of all Lease Payments and Additional Payments. The obligation of the City to pay Lease Payments and Additional Payments hereunder shall constitute a current expense of the City payable from the general fund of the City or any other legally available funds and shall not in any way be construed to be a debt liability or obligation of the City, or the State, or any political subdivision thereof, in contravention of any applicable constitutional or statutory limitation or requirements concerning the creation of indebtedness by the City, the State, or any political subdivision thereof, or an obligation of the City for which the City is obligated to levy or pledge any form of taxation or for which the City has levied or pledged any form of taxation.

Budget and Appropriation. To the fullest extent permitted and/or required by State law, the County shall cause the appropriate County official(s) to take any and all ministerial actions that may be necessary to facilitate the payment of the principal of and interest on the Bonds and the payment of all other Obligations. Subject to the Facilities Lease, the County agrees to include all Lease Payments due under the Facilities Lease in each Fiscal Year in its annual budget and to make the necessary annual appropriations for all such Lease Payments, including, without limitation, upon acceleration of the Obligations pursuant to Section

Budget and Appropriation. The City covenants to take such action as may be necessary to include all Lease Payments due hereunder in each of its proposed annual budgets and its final adopted annual budgets beginning with the Fiscal Year in which the first Lease Payment Date occurs through the Term and to make the necessary appropriations from the Lease Revenues Fund for such Lease Payments. The City shall furnish to the Trustee within 15 days following adoption of the final budget in each Fiscal Year a certificate of an Authorized Officer of the City stating that the Lease Payments were included in the final budget as adopted.

Budget and Appropriation. (a) To the fullest extent permitted and/or required by State law, the Commission shall cause the appropriate Commission official(s) to take any and all ministerial actions that may be necessary to facilitate the payment of the principal of and interest on the Bonds, the Bank Note, the Term Loan and the payment of all other Obligations and to include the principal of and interest on the Bonds, the Bank Note, the Term Loan and the payment of all other Obligations in the annual budget of the Commission (including any necessary appropriations related thereto). (b) Not less than 60 days prior to the beginning of each Fiscal Year, the Commission shall adopt the file with the Purchaser for such Fiscal Year a tentative budget prepared in accordance with the provisions of, and in the manner contemplated by, the Water Supply Contract. In establishing the budget, the Commission may take into account funds on hand in the General Account and budgeted and lawfully appropriated for expenditure in the current Fiscal Year to meet Revenue requirements. The Commission may also take into account sales tax revenues reasonably expected to be available, but only to the lesser of the amount budgeted and lawfully appropriated or 80% of the actual sales tax revenues received during the 12 months preceding preparation of the current budget. In the event the Commission determines to budget the use of Sales Tax Revenues pursuant to this paragraph, all Sales Tax Revenues to be received in the Fiscal Year to which such budget is applicable shall to the fullest extent as by law permitted first be deposited into the Water Funds until the aggregate amount so budgeted has been so deposited in such Fiscal Year.

Budget and Appropriation. Based upon the timeframes set forth in this Agreement, the City agrees to propose in each applicable fiscal year budget an amount to cover the City’s obligations as stated herein commencing with the Fiscal Year 2022-2023 budget; however, the City’s funding obligations as stated herein are all subject to the City’s annual budgeting and appropriation process. The Owner understands and agrees that the City’s funding obligations hereunder are payable exclusively from duly appropriated or otherwise legally available funds and shall not be construed to be debt, liability or obligation within the meaning of any applicable constitutional or statutory limitation or requirement. Neither the City nor the State of Florida nor any political subdivision or agency thereof has pledged any of its full faith and credit or its taxing power to make any payments under this Agreement.

Budget and Appropriation. CRA covenants and agrees to budget the Recapture TIF Incentive Payment as a line item in its annual operating budget subject to CRA Board Approval, City Approval and County Approval. CRA further covenants to use governmentally reasonable efforts to procure annual approval of its operating budget, including the Recapture TIF Incentive Payment as contemplated by this Agreement, by both the City and County.