Fund 536 Sample Clauses

Fund 536. (a) City acknowledges that it collects a transient occupancy tax that is allocated to the City’s TOT Fund (“TOT Revenues”). City shall transfer from TOT Revenues an amount equal to the entire operating subsidy allocated the Convention and Cultural Facilities, as determined under Section B.3. of Xxx Xxxx Xxxx Ordinance 23481 (“TOT Transfer”), to a City fund dedicated to funding the operation, maintenance and capital expenses of the Facilities (“Fund 536”). The City reserves the right to amend the budgeted revenue estimate throughout the course of the year based on actual transient occupancy tax collections. In the event that transient occupancy tax collections during the course of the Fiscal Year decline significantly from budgeted estimates, the transfer from the TOT Fund to Fund 536 will be reduced accordingly, which may also require modification of the budgeted revenue estimate set forth in the Adopted Operating Budget. A reconciliation of actual transient occupancy tax collections and transfers into Fund 536 will be completed at the end of each Fiscal Year, and any variance in collections from the budgeted estimate will be distributed according to the TOT distribution formula. (b) The funds allocated to Fund 536 shall be used, in part, to fund Operating Expenses in excess of the Operating Revenues (“Operating Deficiencies”) and Capital Improvement costs. In order to maintain the Operating Cash Balance Threshold from time to time and, subject to SECTION 10.8, to pay expenses of Capital Improvements and cover Operating Deficiencies, City and TSJ shall, during the budget process, estimate the amount of the TOT transfer from Fund 536 that will be required during the Fiscal Year covered by the Adopted Operating Budget (the “Fund 536 Transfer”). Provided that City determines that sufficient revenues have been transferred into Fund 536 from the TOT Fund, the Fund 536 Transfer will occur in four installments on or about: July 1, September 1, December 1, and April 1 each in an amount equal to the budgeted Operating Deficiencies for that installment period . In the event that Operating Revenues for any quarter are insufficient to pay Operating Expenses for such quarter, or in the event of an anticipated decrease in the balance of the Operating Account below the Operating Cash Balance Threshold, City is authorized to revise the schedule of the Fund 536 Transfer and the allocation of the amount of each separate transfer. During the course of the year, should the Ci...
Sample 1
AutoNDA by SimpleDocs

Related to Fund 536

  • Fund Upon receipt of the Net Deposit, Principal Life will establish, under this Agreement, a bookkeeping account in the name of the Agreement Holder, which will evidence Principal Life’s obligations under this Agreement. The Deposit deemed received (as specified in the Annex), (i) less any withdrawals to make payments hereunder and (ii) plus any interest accrued and premium, if any, pursuant to Section 7, will be referred to as the “Fund”. Principal Life is neither a trustee nor a fiduciary with respect to the Fund.

  • HUMANITY FUND The Company agrees to deduct on a weekly basis the amount of forty (40) cents per week from the wages of all employees in the bargaining unit for all hours worked and, prior to the 15th day of the month following, to pay the amount so deducted to the "Humanity Fund" and to forward such payment to United Steelworkers National Office, 000 Xxxxxxxx Xxxxxx Xxxx, Xxxxxxx, Xxxxxxx, X0X 0X0 and to advise in writing both the Humanity Fund at the aforementioned address and the local union that such payment has been made, the amount of such payment and the names of all employees in the bargaining unit on whose behalf such payment has been made. All employee deductions are voluntary and may be cancelled upon request.

  • FEMA Fund Certifications Submission of this proposal is Vendor’s certification that Vendor agrees to this term. Vendor certifies that IF and when Vendor accepts a TIPS purchase paid for in full or part with FEMA funds, Vendor certifies that: (1) Vendor agrees to provide the TIPS Member, the FEMA Administrator, the Comptroller General of the United States, or any of their authorized representatives access to and rights to reproduce any books, documents, papers, and records of the Contractor which are directly pertinent to this contract for the purposes of making audits, examinations, excerpts, and transcriptions. The Vendor agrees to provide the FEMA Administrator or an authorized representatives access to construction or other work sites pertaining to the work being completed under the contract. Vendor acknowledges and agrees that no language in this contract or the contract with the TIPS Member is intended to prohibit audits or internal reviews by the FEMA Administrator or the Comptroller General of the United States.

  • Investment Strategy The Company’s investment strategy described in the Registration Statement and the Prospectus accurately reflect in all material respects the current intentions of the Company with respect to the operation of the Company’s business, and no material deviation from such investment strategy is currently contemplated.

  • When Must Distributions from a Xxxx XXX Begin Unlike Traditional IRAs, there is no requirement that you begin distribution of your account during your lifetime at any particular age.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Investment Management If and to the extent requested by the Advisor, the Sub-Advisor shall, subject to the supervision of the Advisor, manage all or a portion of the investments of the Portfolio in accordance with the investment objective, policies and limitations provided in the Portfolio's Prospectus or other governing instruments, as amended from time to time, the Investment Company Act of 1940 (the "1940 Act") and rules thereunder, as amended from time to time, and such other limitations as the Trust or Advisor may impose with respect to the Portfolio by notice to the Sub-Advisor. With respect to the portion of the investments of the Portfolio under its management, the Sub-Advisor is authorized to make investment decisions on behalf of the Portfolio with regard to any stock, bond, other security or investment instrument, and to place orders for the purchase and sale of such securities through such broker-dealers as the Sub-Advisor may select. The Sub-Advisor may also be authorized, but only to the extent such duties are delegated in writing by the Advisor, to provide additional investment management services to the Portfolio, including but not limited to services such as managing foreign currency investments, purchasing and selling or writing futures and options contracts, borrowing money or lending securities on behalf of the Portfolio. All investment management and any other activities of the Sub-Advisor shall at all times be subject to the control and direction of the Advisor and the Trust's Board of Trustees.

  • Fund Accounting The Trustees may in their discretion from time to time enter into one or more contracts whereby the other party or parties undertakes to handle all or any part of the Trust’s accounting responsibilities, whether with respect to the Trust’s properties, Shareholders or otherwise.

  • Investment of Contributions At the direction of the Depositor (or the direction of the beneficiary upon the Depositor's death), the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified by the Depositor in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a trust investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Depositor, and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Depositor.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!