Common use of Budget and Appropriation Clause in Contracts

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 any provision of this Contract restrict the future issuance of any of the City’s bonds or moneys. To the extent of any conflict between this Section and any other provision of this Contract, this Section shall take priority.

Budget and Appropriation. (a) The officer of the City County 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 Board in any Fiscal Year in which this Contract Agreement shall be in effect, items for all Installment Payments and any additional payments required for such Fiscal Year under this ContractAgreement or the Deed of Trust. Any budget item referred to in this Section shall be deleted from the applicable budget by the City Council Board only by the adoption of a resolution to such effect containing a statement of its reasons thereforetherefor, which resolution shall be adopted by roll-call vote and shall be spread on upon the minutes of the City CouncilBoard. 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 County shall promptly provide written notice to the Lender of any Event of Nonappropriation. (b) THE PARTIES INTEND THAT THIS TRANSACTION COMPLY WITH THE PROVISIONS OF THE ACT. NO PROVISION OF THIS CONTRACT AGREEMENT SHALL BE CONSTRUED OR INTERPRETED AS CREATING A PLEDGE OF THE FAITH AND CREDIT OF THE CITY COUNTY WITHIN THE MEANING OF ANY CONSTITUTIONAL DEBT LIMITATION. NO PROVISION OF THIS CONTRACT AGREEMENT 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 COUNTY WITHIN THE MEANING OF THE CONSTITUTION OF THE STATE. THIS CONTRACT AGREEMENT SHALL NOT DIRECTLY OR INDIRECTLY OR CONTINGENTLY OBLIGATE THE CITY COUNTY TO MAKE ANY PAYMENTS BEYOND THOSE APPROPRIATED IN THE SOLE DISCRETION OF THE CITY COUNTY FOR ANY FISCAL YEAR IN WHICH THIS CONTRACT AGREEMENT IS IN EFFECT; PROVIDED, HOWEVER, THAT ANY FAILURE OR REFUSAL BY THE CITY COUNTY TO APPROPRIATE FUNDS WHICH RESULTS IN THE FAILURE BY THE CITY COUNTY 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 COUNTY IN ANY ACTION FOR BREACH OF A CONTRACTUAL OBLIGATION UNDER THIS CONTRACT AGREEMENT AND THE TAXING POWER OF THE CITY COUNTY 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 any provision of this Contract restrict the future issuance of any of the City’s bonds or moneys. To the extent of any conflict between this Section and any other provision of this Contract, this Section shall take priorityAGREEMENT.

Budget and Appropriation. (a) The officer County Manager of the City County (or any other officer at any time charged with the responsibility for formulating budget proposals proposals) shall include in the budget proposals for review and consideration by the City Council Board in any each Fiscal Year in which this Contract Master Agreement shall be in effect, items for all Installment Payments (reasonably estimated in the case of any Installment Payments based on a variable interest rate) and any additional payments reasonably estimated Additional Payments required for such Fiscal Year under this ContractMaster Agreement. Any budget item referred to in this Section shall be deleted from the applicable budget by the City Council only by After the adoption of each annual budget the County shall promptly deliver to the Trustee a resolution certificate signed by a County Representative to the effect that such effect containing a statement budget does or does not include funds for the payment of its reasons therefore, which resolution all Installment Payments and Additional Payments required for such Fiscal Year. In addition the County shall be adopted by roll-call vote and shall be spread on promptly provide to the minutes Trustee notice of the City Council. The City shall furnish the Lender with copies of any amendments to 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 websiteAdditional Payments. The City County shall promptly provide written notice to the Lender of any Event of NonappropriationNonappropriation to the Corporation, the Trustee, the Local Government Commission and each Rating Agency then rating any of the Outstanding Notes. (b) NO PROVISION OF THIS CONTRACT THE AGREEMENT SHALL BE CONSTRUED OR INTERPRETED AS CREATING A PLEDGE OF THE FAITH AND CREDIT OF THE CITY COUNTY WITHIN THE MEANING OF ANY CONSTITUTIONAL DEBT LIMITATION. NO PROVISION OF THIS CONTRACT THE AGREEMENT 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 COUNTY WITHIN THE MEANING OF THE CONSTITUTION OF THE STATE. THIS CONTRACT THE AGREEMENT SHALL NOT DIRECTLY OR INDIRECTLY OR CONTINGENTLY OBLIGATE THE CITY COUNTY TO MAKE ANY PAYMENTS BEYOND THOSE APPROPRIATED IN THE SOLE DISCRETION OF THE CITY COUNTY FOR ANY FISCAL YEAR IN WHICH THIS CONTRACT THE AGREEMENT IS IN EFFECT; PROVIDED, HOWEVER, THAT ANY FAILURE OR REFUSAL BY THE CITY COUNTY TO APPROPRIATE FUNDS FUNDS, WHICH RESULTS IN THE FAILURE BY THE CITY COUNTY TO MAKE ANY PAYMENT COMING DUE HEREUNDER UNDER THE AGREEMENT 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 COUNTY IN ANY ACTION FOR BREACH OF A CONTRACTUAL OBLIGATION UNDER THIS CONTRACT THE AGREEMENT, AND THE TAXING POWER OF THE CITY COUNTY IS NOT AND MAY NOT BE PLEDGED DIRECTLY OR INDIRECTLY OR CONTINGENTLY TO SECURE ANY MONEYS DUE UNDER THIS CONTRACTTHE AGREEMENT. No provision of this Contract the Agreement shall be construed to pledge or to create a lien on any class or source of the CityCounty’s moneys, nor shall any provision of this Contract the Agreement restrict the future issuance of any of the CityCounty’s notes, bonds or moneysother indebtedness. To the extent of any conflict between this Section and any other provision of this Contractthe Agreement, this Section shall take priority.

Budget and Appropriation. (a) The officer official of the City School District 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 governing body of the School District in any Fiscal Year in which this Contract Agreement shall be in effect, items (budget line items/amounts) for all Installment Acquisition 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 CouncilAgreement. The City School District shall furnish the Lender with copies of its annual budget promptly after its adoption and copies of any amended budget affecting appropriations for Installment Acquisition Payments or additional payments required under this Contract Agreement. The School District shall promptly provide notice of any Event of Nonappropriation to the Lender. (b) If by June 30 of each year, the School District does not appropriate funds for the next Fiscal Year, either by adopting an operating budget that provides for the levy of sufficient millage or a debt service budget providing for the Deed issuance of Trusta sufficient amount of general obligation debt, to continue making the Acquisition Payments, this Agreement shall terminate, shall create no further obligation of the School District as to subsequent Fiscal Years, and shall be null and void; except as to those provisions that control the exercise by the Lender of its remedies hereunder provided, however, that the CitySchool District shall make its best efforts to appropriate funds for subsequent Fiscal Years during the term of this Agreement. In such event, the School District shall notify the Lender at least twenty (20) days prior to the end of the then current Fiscal Year. The School District shall not, in this sole event, be obligated to make any payments beyond the end of such Fiscal Year. The happening of such occurrence shall be conclusively presumed from the School District’s notification of the Lender or the Lender’s assignee of such occurrence and shall not be open to question by any person in any place. In such event, this Agreement shall terminate on the last day of the Fiscal Year for which appropriations were received without penalty or expense to the School District of any kind whatsoever. Subsequent to such termination of this Agreement, the School District shall have no continuing obligation to provide make Acquisition Payments under this Agreement. No right of action or damages shall accrue to the benefit of the Lender or its assignee as to that portion of this Agreement which may so terminate. The provisions of this subsection (b) shall remain in full force and effect notwithstanding the failure of any party to comply with such information may any provision of this Agreement and whether or not the School District is in default under this Agreement. (c) Upon an Event of Nonappropriation, unencumbered title to that portion of the Equipment which has not yet transferred to the School District as shown on Exhibit C shall immediately (and with no further action by either party) be satisfied by publically releasing such information vested in the Lender. The allocation of the Equipment percentage shall be based on the City’s websiteoriginal proceeds of the Agreement spent on a piece of property. To the extent that Equipment has been replaced due to casualty with other property, then the original proceeds shall follow to the replacement property. To the extent that Equipment has not been replaced after casualty, then said Equipment shall be allocated to the School District Equipment percentage. The City shall promptly provide written notice School District agrees to surrender possession of the Lender’s Equipment to the Lender or its assignee on the date of any Event such termination. The Lender shall have all the rights and remedies to take possession of Nonappropriation.the Equipment and to sell, lease, or otherwise dispose of the Lender’s Equipment as its own property without liability to the School District. THE PARTIES HERETO EXPRESSLY INTEND IN SUCH EVENT THAT THE LENDER BE VESTED WITH BROAD AUTHORITY TO PARTITION THE EQUIPMENT AND TO TAKE UNENCUMBERED TITLE TO SUCH PORTION OF THE EQUIPMENT THE LENDER DEEMS NECESSARY TO SATISFY ITS INTERESTS AS REFLECTED ON THE ATTACHED EXHIBIT C. (bd) NO PROVISION OF THIS CONTRACT AGREEMENT SHALL BE CONSTRUED OR INTERPRETED AS CREATING A PLEDGE OF THE FAITH AND CREDIT OF THE CITY SCHOOL DISTRICT WITHIN THE MEANING OF ANY CONSTITUTIONAL DEBT LIMITATION. NO PROVISION OF THIS CONTRACT AGREEMENT 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 SCHOOL DISTRICT WITHIN THE MEANING OF THE CONSTITUTION OF THE STATE. THIS CONTRACT AGREEMENT SHALL NOT DIRECTLY OR INDIRECTLY OR CONTINGENTLY OBLIGATE THE CITY SCHOOL DISTRICT TO MAKE ANY PAYMENTS BEYOND THOSE APPROPRIATED IN THE SOLE DISCRETION OF THE CITY SCHOOL DISTRICT FOR ANY FISCAL YEAR IN WHICH THIS CONTRACT AGREEMENT 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 SCHOOL DISTRICT IN ANY ACTION FOR BREACH OF A CONTRACTUAL OBLIGATION UNDER THIS CONTRACT AGREEMENT IN VIOLATION OF APPLICABLE LAW, AND THE TAXING POWER OF THE CITY SCHOOL DISTRICT IS NOT AND MAY NOT BE PLEDGED DIRECTLY OR INDIRECTLY OR CONTINGENTLY TO SECURE ANY MONEYS DUE UNDER THIS CONTRACTAGREEMENT. No provision of this Contract Agreement shall be construed to pledge or to create a lien on any class or source of the CitySchool District’s moneys, nor shall any provision of this Contract Agreement restrict the future issuance of any of the CitySchool District’s bonds bonds, notes or moneysother obligations. To the extent of any conflict between this Section and any other provision of this ContractAgreement, this Section shall take priority. (e) Notwithstanding any other provision of this Agreement to the contrary, any obligation of the School District under this Agreement to pay money shall be limited solely to the payment of such moneys, if any, as shall be then appropriated and budgeted and legally available or otherwise legally available to the School District and legally applicable to the purpose for which payment is to be made.

Budget and Appropriation. (a) The officer of the City County 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 Board of Commissioners in any Fiscal Year in which this Contract Agreement shall be in effect, items for all Installment Payments and any additional payments required for such Fiscal Year under this ContractAgreement or the Deed of Trust. Any budget item referred to in this Section shall be deleted from the applicable budget by the City Council Board of Commissioners only by the adoption of a resolution to such effect containing a statement of its reasons thereforetherefor, which resolution shall be adopted by roll-call vote and shall be spread on upon the minutes of the City CouncilBoard of Commissioners. The City County 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 Agreement 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 County shall promptly provide written notice to the Lender of any Event of Nonappropriation. (b) NO PROVISION OF THIS CONTRACT AGREEMENT SHALL BE CONSTRUED OR INTERPRETED AS CREATING A PLEDGE OF THE FAITH AND CREDIT OF THE CITY COUNTY WITHIN THE MEANING OF ANY CONSTITUTIONAL DEBT LIMITATION. NO PROVISION OF THIS CONTRACT AGREEMENT 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 COUNTY WITHIN THE MEANING OF THE CONSTITUTION OF THE STATE. THIS CONTRACT AGREEMENT SHALL NOT DIRECTLY OR INDIRECTLY OR CONTINGENTLY OBLIGATE THE CITY COUNTY TO MAKE ANY PAYMENTS BEYOND THOSE APPROPRIATED IN THE SOLE DISCRETION OF THE CITY COUNTY FOR ANY FISCAL YEAR IN WHICH THIS CONTRACT AGREEMENT IS IN EFFECT; PROVIDED, HOWEVER, THAT ANY FAILURE OR REFUSAL BY THE CITY COUNTY TO APPROPRIATE FUNDS WHICH RESULTS IN THE FAILURE BY THE CITY COUNTY 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 COUNTY IN ANY ACTION FOR BREACH OF A CONTRACTUAL OBLIGATION UNDER THIS CONTRACT AGREEMENT, AND THE TAXING POWER OF THE CITY COUNTY IS NOT AND MAY NOT BE PLEDGED DIRECTLY OR INDIRECTLY OR CONTINGENTLY TO SECURE ANY MONEYS DUE UNDER THIS CONTRACTAGREEMENT. No provision of this Contract Agreement shall be construed to pledge or to create a lien on any class or source of the CityCounty’s moneys, nor shall any provision of this Contract Agreement restrict the future issuance of any of the CityCounty’s bonds or moneys. To the extent of any conflict between this Section and any other provision of this ContractAgreement, this Section shall take priority.