EDUHSD - New High School Sample Clauses

EDUHSD - New High School. Subsequent to the Effective Date of this Agreement and collection of no less than Thirty-Two Million, Seven Hundred and Sixty-One Thousand, Eight Hundred and Sixty-Three Dollars ($32,761,863) by CFD No.1 and distribution of the same to the El Dorado Union HSD to be set aside and/or expended as provided in Section 3.3.1.1, the El Dorado Union HSD shall be entitled to a disbursement of an additional amount not to exceed Thirty Million Dollars ($30,000,000), to be expended for the initial construction of a new high school within the boundaries of El Dorado Union HSD and purposely located within such proximity to the El Dorado Hills Specific Plan area as to primarily reasonably serve students generated within the boundaries of CFD No. 1 (“New High School”). In the event that the Governing Board of the El Dorado Union High School District has not realized sufficient enrollment to justify undertaking any action to plan for and construct a New High School, within five (5) years following the fiscal year in which the Special Tax is terminated, then the Thirty Million Dollars ($30,000,000) projected to be collected and expended on a New High School shall be expended by the El Dorado Union High School District as provided in Section 3.3.1.1 above.
Sample 1
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