Equity of Municipalities Sample Clauses

Equity of Municipalities. Each municipality shall be deemed to have an equity interest in the assets of the District. That equity is determined by multiplying the current value of each asset by the appropriate budget apportionment at the time the asset was purchased. Equity interests shall be reduced to reflect depreciation of the assets on a straight-line basis. The municipalities shall have no equity interest in assets of the District acquired by gift or donation except in the event that the District is terminated.
Sample 1
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Equity of Municipalities. Each municipality shall be deemed to have an equity interest in the assets of the District. That equity is determined by multiplying the current value of each asset by a percentage, derived by dividing, as of the date of purchase of each asset, each municipality’s equalized value by the total equalized value of the entire District. Equity interests shall be reduced to reflect depreciation of the assets on a straight-line basis. The municipalities shall have no equity interest in assets of the District acquired by gift or donation except in the event that the District is terminated.
Sample 1

Related to Equity of Municipalities

  • Territories The Agreement territory is limited to the United States of America, including the District of Columbia, only. It does not include Canada or U.S. Territories including Guam, Puerto Rico, or U.S. Virgin Islands.

  • Government All of LESSEE's obligations under this Lease will continue to the same extent as if such requisition had not occurred.

  • Authorization to Transact Business in the Commonwealth In order to contract with Xxxxxxxxx County, contractors organized as a stock or nonstock corporation, limited liability company, business trust, or limited partnership or registered as a registered limited liability partnership shall be authorized to transact business in the Commonwealth as a domestic or foreign business entity if so required by Code of Virginia, Title 13.1 or Title 50 or as otherwise required by law. Pursuant to competitive sealed bidding or competitive negotiation, a bidder or offeror organized or authorized to transact business in the Commonwealth pursuant to Title 13.1 or Title 50 shall include in its bid or proposal the identification number issued to it by the State Corporation Commission. Any bidder or offeror that is not required to be authorized to transact business in the Commonwealth as a foreign business entity under Title 13.1 or Title 50 or as otherwise required by law shall include in its bid or proposal a statement describing why the bidder or offeror is not required to be so authorized. Any bidder or offeror that fails to provide the required information shall not be awarded a contract unless a waiver of this requirement is granted by the County Administrator. Any business entity as described above that enters into a contract with a public body pursuant to the Virginia Public Procurement Act shall not allow its existence to lapse or its certificate of authority or registration to transact business in the Commonwealth to be revoked or cancelled at anytime during the contract. Xxxxxxxxx County may void any contract with a business entity if that entity fails to remain in compliance with the provisions of this section.

  • DISTRICT RIGHTS 5.1 It is understood and agreed that the District retains all of its powers and authority to direct, manage, and control to the full extent of the law.

  • Tax Status Non Jurisdictional Entities Tax Status.‌‌ Each Party shall cooperate with the other Parties to maintain the other Parties’ tax status. Nothing in this Agreement is intended to adversely affect the tax status of any Party including the status of NYISO, or the status of any Connecting Transmission Owner with respect to the issuance of bonds including, but not limited to, Local Furnishing Bonds. Notwithstanding any other provisions of this Agreement, LIPA, NYPA and Consolidated Edison Company of New York, Inc. shall not be required to comply with any provisions of this Agreement that would result in the loss of tax-exempt status of any of their Tax-Exempt Bonds or impair their ability to issue future tax-exempt obligations. For purposes of this provision, Tax-Exempt Bonds shall include the obligations of the Long Island Power Authority, NYPA and Consolidated Edison Company of New York, Inc., the interest on which is not included in gross income under the Internal Revenue Code. Non-Jurisdictional Entities. LIPA and NYPA do not waive their exemptions, pursuant to Section 201(f) of the FPA, from Commission jurisdiction with respect to the Commission’s exercise of the FPA’s general ratemaking authority.

  • District Compliance The District shall conform to and comply with all health, safety, and sanitation requirements imposed by state or federal law or regulations adopted under state or federal law.

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