Covenant to Budget and Appropriate. Lessee hereby covenants to take such action as is necessary under the laws applicable to Lessee to budget for and appropriate and maintain funds sufficient and available to discharge its obligation to meet all Rental Payments under each Lease in each of its fiscal years during the Lease Term for each Lease. The covenants on the part of Lessee herein contained shall be deemed to be and shall be construed to be ministerial duties imposed by law and it shall be the duty of each and every public official of Lessee 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 Lessee to carry out and perform the covenants and agreements in this Agreement and each Lease agreed to be carried out and performed by Lessee.
Covenant to Budget and Appropriate. Subject to Section 6.5.1(a), City covenants to take such action as may be necessary to include Lease payments due hereunder in its annual budget and annually to appropriate an amount necessary to make such Lease payments.
Covenant to Budget and Appropriate. The City hereby covenants and agrees to the extent permitted by and in accordance with applicable law and budgetary processes, to prepare, approve and appropriate in its Annual Budget for each Fiscal Year, by amendment if necessary, and to deposit to the credit of the Sinking Fund, legally available Non-Ad Valorem Revenues of the City in an amount which is equal to the Bond Service Requirement with respect to the Series 2010 Bonds outstanding hereunder for the applicable Fiscal Year, plus an amount sufficient to satisfy the other payment obligations of the City hereunder for the applicable Fiscal Year, if any. Such covenant and agreement on the part of the City to budget and appropriate sufficient amounts of legally available Non-Ad Valorem Revenues shall be cumulative, and shall continue until such legally available Non-Ad Valorem Revenues in amounts sufficient to make all required payments hereunder as and when due, including any delinquent deposits, shall have been budgeted, appropriated and actually paid into the Sinking Fund (and accounts therein) established hereunder; provided, however, that such covenant shall not constitute a lien, either legal or equitable, on any of the City’s legally available Non-Ad Valorem Revenues or other revenues, nor shall it preclude the City from pledging in the future any of its legally available Non-Ad Valorem Revenues or other revenues to other obligations, nor shall it give the Bondholders a prior claim on the legally available Non-Ad Valorem Revenues. Anything herein to the contrary notwithstanding, all obligations of the City hereunder shall be secured only by the legally available Non-Ad Valorem Revenues actually budgeted and appropriated and deposited into the Sinking Fund (and accounts therein) created under this Agreement, as provided for herein. The City may not expend moneys not appropriated or in excess of its current budgeted revenues. The obligation of the City to budget, appropriate and make payments in respect of the Series 2010 Bonds from its legally available Non-Ad Valorem Revenues is subject to the availability of legally available Non-Ad Valorem Revenues after satisfying funding requirements for obligations having an express lien on or pledge of such revenues and after satisfying funding requirements for essential governmental services of the City.
Covenant to Budget and Appropriate. The District covenants and agrees to take such action as may be necessary to include all Rental Payments due hereunder in its annual budgets and to make the necessary annual appropriations for all such Rental Payments out of legally available revenues of the District. Annually within thirty (30) days of the adoption of the budget, the District will furnish to the Assignee a Certificate of the District certifying that such budget contains the necessary appropriation for all Rental Payments along with a copy of such budget. The agreements and 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 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 agreements and covenants in this Lease-Purchase Agreement agreed to be carried out and performed by the District.
Covenant to Budget and Appropriate. The City covenants to take such action as may be necessary to include all Base Rental Payments and Additional Rental due hereunder in its annual budget and to make the necessary annual appropriations for all such Base Rental Payments and Additional Rental, subject only to abatement as provided in Section 16 hereof. The City will furnish to the Authority and the Trustee annually, on or before September 1, a certificate stating that it has complied with the covenant set forth in this paragraph. The covenants on the part of the City herein contained shall be deemed to be and shall be construed to be duties imposed by law and it shall be the duty of each and every public official of the City 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 City to carry out and perform the covenants and agreements in this Lease agreed to be carried out and performed by the City. The obligation of the City to make Base Rental Payments or Additional Rental payments does not constitute 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. Neither the Bonds nor the obligation of the City to make Base Rental Payments or Additional Rental payments constitutes an indebtedness of the City, the State or any of its political subdivisions within the meaning of any constitutional or statutory debt limitation or restriction.
Covenant to Budget and Appropriate. The County covenants and agrees to take such action as may be necessary to include all Rental Payments due hereunder in its annual budgets and to make the necessary annual appropriations for all such Rental Payments. Annually within thirty (30) days of the adoption of the budget, the County will furnish to the Lender a Certificate of the County certifying that such budget contains the necessary appropriation for all Rental Payments. If requested in writing by the Lender, the County will furnish a copy of such budget. The agreements and covenants on the part of the County herein contained shall be deemed to be and shall be construed to be duties imposed by law and it shall be the duty of each and every public official of the County 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 County to carry out and perform the agreements and covenants in this Lease/Purchase Agreement agreed to be carried out and performed by the County.
Covenant to Budget and Appropriate. (a) Until all Loan Repayments and other amounts owing hereunder are paid or deemed paid pursuant to the provisions of this Loan Agreement, the Public Agency hereby covenants to appropriate in its annual budget, by amendment if necessary, from Non-Ad Valorem Revenues lawfully available in each fiscal year of the Public Agency in which principal or interest on the Loan Repayments and other amounts owing hereunder becomes due and payable, amounts sufficient, together with other available moneys, to pay the Loan Repayments and other amounts owing hereunder, as the same become due (whether by redemption, at maturity or otherwise). Such covenant and agreement on the part of the Public Agency to budget and appropriate such amounts of Non-Ad Valorem Revenues shall be cumulative to the extent not paid, and shall continue until such Non- Ad Valorem Revenues or other legally available funds in amounts sufficient to make all such required payments hereunder shall have been budgeted, appropriated and actually paid. Once such Non-Ad Valorem Revenues are so budgeted and appropriated, the same shall constitute "Public Agency Moneys" hereunder. Notwithstanding the foregoing covenant of the Public Agency, the Public Agency does not covenant to maintain any services or programs, now provided or maintained by the Public Agency, which generate Non-Ad Valorem Revenues.
Covenant to Budget and Appropriate. To satisfy the County’s obligations hereunder, the County, to the extent permitted by applicable law, covenants and agrees to appropriate in its annual budget, by amendment if required and to the extent permitted and in accordance with budgetary procedures provided by the laws of the State of Florida, and to pay when due directly to the Company, sufficient amounts of Non-Ad Valorem Revenues of the County or other legally available funds sufficient to satisfy its obligations to the Company hereunder. Such covenant and agreement on the part of the County to budget and appropriate such amounts of Non-Ad Valorem Revenues or other legally available funds shall be cumulative, and shall continue until such Non-Ad Valorem Revenues or other legally available funds in amounts sufficient to make all required payments as and when due shall have been budgeted, appropriated and actually paid as required hereunder. The County further agrees that its obligations to include the amount of any deficiency in each of its annual budgets and to pay such deficiencies from Non-Ad Valorem Revenues or other legally available funds may be enforced in a court of competent jurisdiction in accordance with the remedies set forth herein. The obligations of the County pursuant to this Agreement will not constitute a general indebtedness of the County within the meaning of any constitutional or statutory provision or limitation and the County is not obligated to levy any ad-valorem taxes for the payment thereof. Neither the full faith and credit nor the taxing power of the County, the State of Florida or any political subdivision thereof is pledged to such payment. Notwithstanding, the foregoing, or any provision of this Agreement to the contrary, the County does not covenant to maintain any services or programs now provided or maintained by the County which generate Non-Ad Valorem Revenues other than solid waste-services required to meet the obligations of the County under this Agreement, but only to the extent that Non-Ad Valorem Revenues are available therefor, and nothing in this Agreement shall require the County to appropriate or expend ad valorem taxes to maintain any services or programs, now provided or maintained by the County which generate Non-Ad Valorem Revenues.
Covenant to Budget and Appropriate. The County covenants to take such action as may be necessary to include all Base Rental Payments and Additional Rental due hereunder in its annual budget and to make the necessary annual appropriations for all such Base Rental Payments and Additional Rental, subject only to abatement as provided in Section 16 hereof. The County will furnish to the Trustee annually, on or before September 1, a certificate substantially in the form attached as Exhibit C of this Lease stating that it has complied with the covenant set forth in this paragraph. The covenants on the part of the County herein contained shall be deemed to be and shall be construed to be duties imposed by law and it shall be the duty of each and every public official of the County 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 County to carry out and perform the covenants and agreements in this Lease agreed to be carried out and performed by the County. The obligation of the County to make Base Rental Payments or Additional Rental payments does not constitute an obligation of the County for which the County is obligated to levy or pledge any form of taxation or for which the County has levied or pledged any form of taxation. The obligation of the County to make Base Rental Payments and payments of Additional Rental does not constitute an indebtedness of the County, the State or any of its political subdivisions within the meaning of any constitutional or statutory debt limitation or restriction.
Covenant to Budget and Appropriate. Section 4.1. The payment of the Tax Increment Payments, if any, shall be subject to an annual appropriation by the City for each Fiscal Year in which such Tax Increment Payments are due. The City covenants and agrees to appropriate in its general annual operating budget, by amendment, if necessary, the Tax Increment Payments when due pursuant to this Agreement.
