Common use of District Covenants Clause in Contracts

District Covenants. The District hereby represents and covenants with the County at the time each Transfer is made, the following: (a) That the District’s Anticipated Revenue Calculation and Remaining General Fund Revenue Calculation for Fiscal Year 20 -20 , as provided for in Exhibit C attached hereto, represents the District’s best estimate of anticipated revenues accruing and remaining revenues accruing to the District during the fiscal year. (b) In the aggregate, the amount of Transfers made to the District during Fiscal Year 20 -20 do not exceed 85 percent of the anticipated revenues accruing to the District for such Fiscal Year. (c) The District has not issued, nor will issue, any TRANs, or other borrowing of any kind or nature for the purpose of funding the District’s short term cash flow, while a Transfer is outstanding. (d) The District has the ability to meet its financial obligations under this Agreement. The County may rely upon Exhibit C in connection with any Transfer sizing.

District Covenants. The District hereby represents and covenants with the County at the time each Transfer is made, the following: (a) That the District’s Anticipated Revenue Calculation and Remaining General Fund Revenue Calculation for Fiscal Year 20 -20 , as provided for in Exhibit C attached hereto, represents the District’s best estimate of anticipated revenues accruing and remaining revenues accruing to the District during the fiscal year. (b) In the aggregate, the amount of Transfers made to the District during Fiscal Year 20 -20 do not exceed 85 percent of the anticipated revenues accruing to the District for such Fiscal Year. (c) The District has not issued, nor will issue, any TRANs, or other borrowing of any kind or nature for the purpose of funding the District’s short term cash flow, while a Transfer is outstanding. (d) The District has the ability to meet its financial obligations under this AgreementContract. The County may rely upon Exhibit C in connection with any Transfer sizing.

District Covenants. The District hereby represents and covenants with the County at the time each Transfer is made, the following: (a) That the District’s Anticipated Revenue Calculation and Remaining General Fund Revenue Calculation for Fiscal Year 20 -20 , as provided for in Exhibit C attached hereto, represents the District’s best estimate of anticipated revenues accruing and remaining revenues accruing to the District during the fiscal year. (b) In the aggregate, the amount of Transfers made to the District during Fiscal Year 20 -20 -20__ do not exceed 85 percent of the anticipated revenues accruing to the District for such Fiscal Year. (c) The District has not issued, nor will issue, any TRANs, or other borrowing of any kind or nature for the purpose of funding the District’s short term cash flow, while a Transfer is outstanding. (d) The District has the ability to meet its financial obligations under this Agreement. The County may rely upon Exhibit C in connection with any Transfer sizing.