Common use of Designated Fund Clause in Contracts

Designated Fund. Buyer is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in this Agreement shall constitute an obligation of future legislative bodies of Buyer to appropriate funds for purposes of this Agreement; provided, however, that (i) Buyer has created and set aside a designated fund for San Xxxx Clean Energy as further described in Section 4.80.4050 of the City of San Xxxx Municipal Code (the “Designated Fund”) for payment of its obligations under this Agreement, (ii) as set forth in Section 4.80.4060 of the City of San Xxxx Municipal Code, all monies derived from the operation of San Xxxx Clean Energy, including revenues for sale of electricity, payment from other entities, and any financing proceeds associated with San Xxxx Clean Energy’s obligation will be deposited in the Designated Fund, and (iii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José City Council and allocated and appropriated to the San Xxxx Clean Energy’s obligations, Buyer agrees to establish San Xxxx Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyer’s payment obligations under its other contracts for the purchase of energy and related products for San Xxxx Clean Energy. Buyer shall provide Seller with reasonable access to account balance information with respect to the Designated Fund during the Term.

Designated Fund. Buyer The City is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in this Agreement shall constitute an obligation of future legislative bodies of Buyer the City to appropriate funds for purposes of this the Agreement; provided, however, that (i) Buyer the City has created and set aside a designated operating fund for San Xxxx Clean Energy as further described in Section 4.80.4050 of the City of San Xxxx Municipal Code (the “Designated Fund”) for payment of its obligations under this Agreement, (ii) as set forth in Section 4.80.4060 of the City of San Xxxx Municipal Code, all monies derived from the operation of San Xxxx Clean Energy, including revenues for from sale of electricity, payment payments from other entities, and any financing proceeds associated with San Xxxx Clean Energy’s obligation Energy will be deposited in the Designated Fund, and (iii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José City Council and allocated and appropriated to the San Xxxx Clean Energy’s obligations, Buyer the City agrees to establish San Xxxx Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyerthe City’s payment obligations under its other contracts for the purchase of energy and related products for San Xxxx Clean Energy. Buyer The City shall provide Seller Consultant with reasonable access to account balance information with respect to the San Xxxx Clean Energy Designated Fund during the Term.

Designated Fund. Buyer The City is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in this Agreement shall constitute an obligation of future legislative bodies of Buyer the City to appropriate funds for purposes of this the Agreement; provided, however, that (i) Buyer the City has created and set aside a designated operating fund for San Xxxx Clean Energy as further described in Section 4.80.4050 of the City of San Xxxx Municipal Code (the “Designated Fund”) for payment of its obligations under this Agreement, (ii) as set forth in Section 4.80.4060 of the City of San Xxxx Municipal Code, all monies derived from the operation of San Xxxx Clean Energy, including revenues for from sale of electricity, payment payments from other entities, and any financing proceeds associated with San Xxxx Clean Energy’s obligation Energy will be deposited in the Designated Fund, and (iii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José Xxxx City Council and allocated and appropriated to the San Xxxx Clean Energy’s obligations, Buyer the City agrees to establish San Xxxx Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyerthe City’s payment obligations under its other contracts for the purchase of energy and related products for San Xxxx Clean Energy. Buyer The City shall provide Seller Consultant with reasonable access to account balance information with respect to the San Xxxx Clean Energy Designated Fund during the Term.

Designated Fund. Buyer is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in this Agreement shall constitute an obligation of future legislative bodies of Buyer the City to appropriate funds for purposes of this the Agreement; provided, however, that (i) Buyer has created and set aside a designated operating fund for San Xxxx Clean Energy as further described in Section 4.80.4050 of the City of San Xxxx Municipal Code (the “Designated Fund”) for payment of its obligations under this Agreement, (ii) as set forth in Section 4.80.4060 of the City of San Xxxx Municipal Code, all monies derived from the operation of San Xxxx Clean Energy, including revenues for from sale of electricity, payment payments from other entities, and any financing proceeds associated with San Xxxx Clean Energy’s obligation Energy will be deposited in the Designated Fund, and (iii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José Xxxx City Council and allocated and appropriated to the San Xxxx Clean Energy’s obligations, Buyer agrees to establish San Xxxx Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyer’s payment obligations under its other contracts for the purchase of energy and related products for San Xxxx Clean Energy. Buyer shall provide Seller with reasonable access to account balance information with respect to the San Xxxx Clean Energy Designated Fund during the Term.

Designated Fund. Buyer The City is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in this Agreement shall constitute an obligation of future legislative bodies of Buyer the City to appropriate funds for purposes of this the Agreement; provided, however, that (i) Buyer the City has created and set aside a designated operating fund for San Xxxx Clean Energy as further described in Section 4.80.4050 of the City of San Xxxx Municipal Code (the “Designated Fund”) for payment of its obligations under this Agreement, (ii) as set forth in Section 4.80.4060 of the City of San Xxxx Municipal Code, all monies derived from the operation of San Xxxx Clean Energy, including revenues for from sale of electricity, payment payments from other entities, and any financing proceeds associated with San Xxxx Clean Energy’s obligation Energy will be deposited in the Designated Fund, and (iii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José City Council and allocated and appropriated to the San Xxxx Clean Energy’s obligations, Buyer the City agrees to establish San Xxxx Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyerthe City’s payment obligations under its other contracts for the purchase of energy and related products for San Xxxx Clean Energy. Buyer The City shall provide Seller Consultant with reasonable access to account balance information with respect to the San Xxxx Clean Energy Designated Fund during the Term.

Designated Fund. Buyer is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in this Agreement shall constitute an obligation of future legislative bodies of Buyer to appropriate funds for purposes of this Agreement; provided, however, that (i) Buyer has created and set aside a designated fund for San Xxxx Clean Energy as further described in Section 4.80.4050 of the City of San Xxxx Municipal Code (the “Designated Fund”) for payment of its obligations under this Agreement, (ii) as set forth in Section 4.80.4060 of the City of San Xxxx Municipal Code, all monies derived from the operation of San Xxxx Clean Energy, including revenues for sale of electricity, payment from other entities, and any financing proceeds associated with San Xxxx Clean Energy’s obligation will be deposited in the Designated Fund, and (iii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José City Council and allocated and appropriated to the San Xxxx Clean Energy’s obligations, Buyer agrees to establish San Xxxx Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyer’s payment obligations under its other contracts for the purchase of energy and related products for San Xxxx Clean Energy. Buyer shall provide Seller with reasonable access to account balance information with respect to the Designated Fund during the Term.. 57

Designated Fund. Buyer is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in this Agreement shall constitute an obligation of future legislative bodies of Buyer the City to appropriate funds for purposes of this the Agreement; provided, however, that (i) Buyer has created and set aside a designated operating fund for San Xxxx Clean Energy as further described in Section 4.80.4050 of the City of San Xxxx Municipal Code (the “Designated Fund”) for payment of its obligations under this Agreement, (ii) as set forth in Section 4.80.4060 of the City of San Xxxx Municipal Code, all monies derived from the operation of San Xxxx Clean Energy, including revenues for from sale of electricity, payment payments from other entities, and any financing proceeds associated with San Xxxx Clean Energy’s obligation Energy will be deposited in the Designated Fund, and (iii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José Xxxx City Council and allocated and appropriated to the San Xxxx Clean Energy’s obligations, Buyer Xxxxx agrees to establish San Xxxx Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyer’s payment obligations under its other contracts for the purchase of energy and related products for San Xxxx Clean Energy. Buyer shall provide Seller with reasonable access to account balance information with respect to the San Xxxx Clean Energy Designated Fund during the Term.