Common use of Financing of Allocated Capital Costs by a Participating Contractor Clause in Contracts

Financing of Allocated Capital Costs by a Participating Contractor. (A) The District may elect to pay a portion or all of the capital costs of the enlargement construction allocated to the District by furnishing funds to the State in advance of the State incurring the capital costs, provided that the total remaining costs to be financed by the State shall not be less than $50 million. The District may elect in writing to use this option by June 15 of each year as to any portion of an East Branch Enlargement Facility not yet funded by the State. If the District does not elect this option by June 15 of a given year, it may, with the consent of the State elect the option at a later time in that year.

Financing of Allocated Capital Costs by a Participating Contractor. (A) The District Agency may elect to pay a portion or all of the capital costs of the enlargement construction allocated to the District Agency by furnishing funds to the State in advance of the State incurring the capital costs, provided that the total remaining costs to be financed by the State shall not be less than $50 million. The District Agency may elect in writing to use this option by June 15 of each year as to any portion of an East Branch Enlargement Facility not yet funded by the State. If the District Agency does not elect this option by June 15 of a given year, it may, with the consent of the State elect the option at a later time in that year.