Common use of Funding; Investment and Disbursement of Funds Clause in Contracts

Funding; Investment and Disbursement of Funds. The Members, including Ex Officio Members, shall contribute based on a formula developed and approved by the Board to cover annual operating expenses, including projects approved by the Board. Other sources of funding could include fees and contributions from other Federal agencies, State agencies, local governments, grants from private individuals or organizations, developers, and businesses. Failure of a Member to provide its contribution shall constitute a breach of this Agreement. The Governing Board shall provide for the investment and disbursement of funds and their periodic review.

Funding; Investment and Disbursement of Funds. The Members, including Ex Officio MembersmMembers, shall contribute based on a formula developed and approved by the Board to cover annual operating expenses, including projects approved by the Board. Other sources of funding could include fees and contributions from other Federal agencies, State agencies, local governments, grants from private individuals or organizations, developers, and businesses. Failure of a Member mMember to provide its contribution shall constitute a breach of this Agreement. The Governing Board shall provide for the investment and disbursement of funds and their periodic review.