Debt Service on Xxxxxxxx Elementary School Sample Clauses

Debt Service on Xxxxxxxx Elementary School. On October 27, 2005, SAD 58 issued a bond in the principal amount of $950,000 for the addition to the Xxxxxxxx Elementary School (the “2005 Bond”). As of the Effective Date, SAD 58 will owe $285,000 in principal and $14,487.50 in interest for this indebtedness. Under 20-A M.R.S. § 1466(16)(A), when a municipality withdraws from a regional school unit having outstanding indebtedness, the RSU remains intact for the purpose of retiring and securing that indebtedness, provided that the withdrawal agreement may provide for alternate means for retiring the outstanding indebtedness. As an alternate means for retiring the outstanding indebtedness on the Xxxxxxxx Elementary School, the New Xxxxxx XXX shall pay the remaining indebtedness for the addition to the Xxxxxxxx Elementary School directly to SAD 58 at least thirty (30) days prior to the due date of each installment of principal and each interest payment and cover the costs incurred in case of late payments. At the time SAD 58 issued the 2005 Bond, it executed an Arbitrage and Use of Proceeds Certificate (attached as Exhibit 2), in which it made certifications and representations with respect to compliance with provisions of the Internal Revenue Code of 1986, as amended, (the “Code”). These certifications and representations, in part, ensured to bondholders that the 2005 Bond would retain its tax exempt status. Upon the transfer for the Xxxxxxxx Elementary School to the New Xxxxxx XXX, the New Xxxxxx XXX shall be responsible for these certifications and representations. By this Agreement, the New Xxxxxx XXX agrees to by fully bound by all of the terms of the Arbitrage and Use of Proceeds Certificate, including without limitation the following provision: [The school construction project at Xxxxxxxx Elementary School (the “Project”)] is and will be owned by [SAD 58 (the “Unit”)] and will not be leased to any person who is not a state or local government unit. Except with respect to management contracts that satisfy the safe harbor guidelines set forth in Revenue Procedure 97-13, 1997-1 C.B. 632, the Unit will not enter into any contracts or other arrangements including without limitation, management contracts, capacity guarantee contracts, take or pay contracts or put or pay contracts, with persons who are not state or local governments pursuant to which such persons have a right to use or make use of the Project on a basis not available to members of the general public.
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Related to Debt Service on Xxxxxxxx Elementary School

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  • Contractor’s Xxxxxxxx to City Compensation. The Contractor shall send invoices to the City on a monthly or bi-monthly basis for the amounts to be paid pursuant to this contract. Each invoice shall document, to the reasonable satisfaction of the City: such information as may be reasonably requested by the City. Within 60 days after the City receives an invoice, the City shall send the Contractor a check in payment for all undisputed amounts contained in the invoice.

  • SHOP XXXXXXX (a) The Union may elect or appoint a Shop Xxxxxxx or Shop Stewards to represent the employees and the Union shall notify the Company as to the name or names of such Shop Xxxxxxx or Shop Stewards. The Company agrees that no Shop Xxxxxxx shall suffer any discrimination by reason of holding such office.

  • BRAND NAME OR EQUALS/DEVIATIONS Unless otherwise specified, the mention of a particular manufacturer’s brand name or number in the specifications does not imply that this particular good is the only one that will be considered for purchase. This reference is intended solely to designate the type or quality of good that will be acceptable. Equal offers will be considered and must include descriptive literature and/or specifications. Failure to provide descriptive literature and/or specifications with equal offers will result in the disqualification of the bid. The determination as to whether any alternate good or service is or is not equal shall be made solely by the County and such determination shall be final and binding upon all bidders. The County reserves the right to request and review additional information to make such a determination. Although the County provides for the consideration of alternate bids, it reserves the right to make an award in the best interest of the County. Award may not necessarily be given to the lowest bid offered. The Bidder shall be responsible for reading very carefully, and understanding completely, the requirements and the specifications of the items bid upon. Unless the bid is in response to a “Brand Name or Equal” requirement, deviations from the specifications will only be considered if requested in writing prior to the date and time specified for receipt of bids. Deviations, if accepted, will be specifically addressed in writing via an addendum to this Invitation for Bids. Any goods or services that are not in compliance with the specifications will not be accepted.

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  • JOB XXXXXXX (a) There shall be a Xxxxxxx on each job at all times, who shall be a Union Member in good standing, and shall be appointed by the Business Representative, from amongst the Employees on the job. The Union shall notify the Employer, in writing, who their Xxxxxxx is. If the Employer disapproves of the said appointed Xxxxxxx, they shall immediately notify the Union, in writing, stating the reasons for their disapproval. If their reasons are acceptable to the Union, a new Xxxxxxx will be appointed immediately. If not acceptable, the Union and the Employer will meet to discuss the reasons for disapproval, and if necessary, grievance procedure will be followed. The Xxxxxxx shall keep a record of members hired, laid-off, and discharged, and shall take up all grievances on the job, and try to have same adjusted. In the event he/she cannot adjust them, he/she must promptly report that fact to the Business Representatives of the Union, so STEP 2 of the Grievance Procedure can be followed through. He/She shall see that the provisions of this Agreement are complied with and report the true conditions and facts. It is recognized as the Employer’s responsibility to make whatever provisions are necessary for the care of injured worker. It shall be the duty of the Xxxxxxx to see that the Employer fulfils its obligation. The Employer agrees that when Employees are laid-off, all things being equal, the Xxxxxxx will be one of the last employees laid-off. The Employer further agrees that the Xxxxxxx will not be transferred to another jobsite unless mutually agreed by the Employer Representative and the Union Representative. The Union agrees that the Xxxxxxx shall not be changed without prior notification to the Employer.

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  • Xxxxxx Xxxxxx Xxxx Day 10.1.3 Lincoln Day

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