Distribution of Funds Available. Each fiscal year, the Trustees shall requisition withdrawal(s) of and use the Funds Available to pay amounts to the Community to fund proposals, plans and initiatives of the Community in accordance with the budgetary process in Article 8. The Funds Available which are so used each fiscal year shall be paid: (a) firstly out of Income of the Trust for the year; and (b) secondly out of the capital of the Trust which capital payments shall be debited to the Community Development Account.
Appears in 2 contracts
Samples: Agreement Between the Incorporated Community of Nelson House and the Government of Manitoba and Manitoba Hydro Electric Board, Agreement Between the Incorporated Community of Nelson House and the Government of Manitoba and Manitoba Hydro Electric Board
Distribution of Funds Available. Each fiscal year, the Trustees shall requisition withdrawal(s) of and use the Funds Available to pay amounts to the Community to fund proposals, plans and initiatives of the Community in accordance with the budgetary process in Article 8. The Funds Available which are so used each fiscal year shall be paid:
(a) firstly out of Income of the Trust for the year; and
(b) secondly out of the capital of the Trust which capital payments shall be debited to the Community Development AccountAccount or the Heritage Capital Account depending upon which of said two Accounts the capital is being withdrawn from as otherwise permitted by the terms of this Indenture.
Appears in 2 contracts
Samples: Settlement Agreement, Settlement Agreement
