Funding Determination. To ensure proper financing of the City Healthcare Plan it is necessary to provide for an annual funding review. This document shall set Annual Funding increases at a minimum of 5% and a maximum of 14% as determined by the Fund needs to finance the Expected Plan Costs for the forthcoming year; plus or minus the Fund needs to move towards meeting or maintaining the Ideal Fund Balance Target for the forthcoming year. If the above Funding concept is more than adequate to meet the expected plan cost and also produces dollars in excess of the Ideal Fund Balance Target the excess dollars must first be used to repay any loans due the City of Rapid City, secondly these dollars may be used to offset the forthcoming years funding need by carrying the dollars forward to subsequent years. If the Annual funding adjustment is inadequate to meet the actual Plan Cost, the benefits provided by the Plan shall be adjusted to reduce the expected expenses to fit within the funding expectation. Unless agreed by a 2/3 vote of the Healthcare Plan Committee, a rate change must occur each January 1 between the minimum 5% and maximum of 14%. Planning for the above application shall be completed in June of each year for the subsequent January 1 rate change and/or benefit modification implementation. Any recommendation for an increase in premium above 14% must be submitted to the City Council and to each bargaining unit for approval. The approval of the City and at least two of the four bargaining units shall be adequate to implement such an increase for all of the bargaining units.
Funding Determination. If at any time following the commencement of any Scheduled Action or the entry of or into any Scheduled Order or Settlement the Investor reasonably expects that it will assert a right not to consummate any Follow-On Funding hereunder as a result of such Scheduled Action or Scheduled Order or Settlement, the Investor shall, as promptly as practicable following such determination, notify the Company in writing that as of such time it reasonably expects that it will assert a right not to consummate such Follow-On Funding as a result of such Scheduled Action or Scheduled Order or Settlement (a “Funding Determination Notice”). Following the receipt of a Funding Determination Notice, during the one hundred and fifty (150) day period prior to such time that the Company would have the right to assert that a Funding Failure has occurred pursuant to Section 11.6(b)(i) in respect of the applicable Subsequent Closing, the Company shall have the right, upon prior written notice to the Investor, to commence marketing Properties of the Company and/or any of its Subsidiaries for sale (any Properties so marketed, collectively, the “Marketed Properties”) with the intent and purpose of generating sales proceeds to the Company (a) in such amount that would have been paid to the Company by the Investor in respect of Convertible Preferred Units at such Subsequent Closing and (b) solely for the purposes set forth in Section 10.15 with respect to such Subsequent Closing; provided that except during a Suspension Period in accordance with the terms of this Agreement, in no event shall the Company or any of its Subsidiaries be permitted to consummate the sale of any Marketed Properties without the prior written consent of the Investor.
Funding Determination. The Board will hold a funding allocation meeting at which time the Board will determine the allocation of funds, if any, to each project and the projects will be ranked by overall average score to facilitate final funding decisions by the Board. Allocations will be based in part upon the cumulative score of the applications as calculated from the Project Evaluation and Rating Form. Allocations will also be based upon the specific needs of the individual counties. Rulemaking Authority 374.976(2) FS. Law Implemented 374.976(1) FS. History–New 12-17-90, Amended 9-2-92, 6-24-93, 4-12-95, Formerly 16T- 2.006, Amended 5-25-00, 3-21-01, 7-30-02, 3-20-03, 4-21-05, 4-24-06, 4-15-07, 3-25-08, 3-7-11, 1-27-14.
Funding Determination
