Common use of GBRA Budget Clause in Contracts

GBRA Budget. Not later than sixty (60) days before the commencement of each Annual Payment Period beginning with the Initial Annual Payment Period, GBRA shall prepare and furnish to the WCID an annual preliminary budget for the Project which shall contain the following information: (i) The following information concerning the Annual Requirement for the next Annual Payment Period: (1) the total Debt Service Requirement on the Bonds for the Annual Payment Period after allowance for fund balances resulting from capitalized interest; (2) the total Non-Budgeted CRR Requirement for the Annual Payment Period; provided, however, such Requirement shall not exceed the balance of the CRR Fund, except as otherwise agreed upon by the Parties; (3) the total Repayment Requirement for GBRA DS Payment for the Annual Payment Period; provided, however, that such Requirement shall not exceed a sum that would cause the balance of the Hydro Fund to fall below $150,000 except as otherwise agreed upon by the Parties; (4) the total Operation and Maintenance Requirement for the Annual Payment Period; (5) the total Budgeted CRR Requirement for the Annual Payment Period; and (6) summary of all amounts due from the WCID for the Annual Payment Period and the dates on which such amounts are due and payable. (ii) A summary of the following information shall also be provided in conjunction with the annual GBRA Budget and prior to the commencement of the Annual Payment Period: (1) any prior GBRA CRR Payment and GBRA DS Payment funded by GBRA and the total accumulated and outstanding GBRA CCR Payments and GBRA DS Payments including interest thereon, for which GBRA has not yet been reimbursed; and (2) the estimated amount of the Annual GBRA Payment to be made by GBRA to the WCID for such budget period. (iii) A breakdown summary of the projected five-year Capital Repair and Replacement budget. (iv) GBRA shall provide to the WCID within thirty (30) days of the end of the first three quarters of its fiscal year and within sixty (60) days of the end of the last quarter of its fiscal year, an update of the quarterly activities that shall include current operating costs, actual expenditures for CRR costs, Hydro Revenues and any updates to the GBRA Budget impacting the WCID’s obligations.

GBRA Budget. Not later than sixty (60) days before the commencement of each Annual Payment Period beginning with the Initial Annual Payment Period, GBRA shall prepare and furnish to the WCID an annual preliminary budget for the Project which shall contain the following information: (i) The following information concerning the Annual Requirement for the next Annual Payment Period: (1) the total Debt Service Requirement on the Bonds for the Annual Payment Period after allowance for fund balances resulting from capitalized interest; (2) the total Non-Budgeted CRR Requirement for the Annual Payment Period; provided, however, such Requirement shall not exceed the balance of the CRR Fund, except as otherwise agreed upon by the Parties; (3) the total Repayment Requirement for GBRA DS Payment for the Annual Payment Period; provided, however, that such Requirement shall not exceed a sum that would cause the balance of the Hydro Fund to fall below $150,000 100,000, except as otherwise agreed upon by the Parties; (4) the total Operation and Maintenance Requirement for the Annual Payment Period; (5) the total Budgeted CRR Requirement for the Annual Payment Period; and (6) summary of all amounts due from the WCID for the Annual Payment Period and the dates on which such amounts are due and payable. (ii) A summary of the following information shall also be provided in conjunction with the annual GBRA Budget and prior to the commencement of the Annual Payment Period: (1) any prior GBRA CRR Payment and GBRA DS Payment funded by GBRA and the total accumulated and outstanding GBRA CCR Payments and GBRA DS Payments including interest thereon, for which GBRA has not yet been reimbursed; and (2) the estimated amount of the Annual GBRA Payment to be made by GBRA to the WCID for such budget period. (iii) A breakdown summary of the projected five-year Capital Repair and Replacement budget. (iv) GBRA shall provide to the WCID within thirty (30) days of the end of the first three quarters of its fiscal year and within sixty (60) days of the end of the last quarter of its fiscal year, an update of the quarterly activities that shall include current operating costs, actual expenditures for CRR costs, Hydro Revenues and any updates to the GBRA Budget impacting the WCID’s obligations.

GBRA Budget. Not later than sixty (60) days before the commencement of each Annual Payment Period beginning with the Initial Annual Payment Period, GBRA shall prepare and furnish to the WCID an annual preliminary budget for the Project which shall contain the following information: (i) The following information concerning the Annual Requirement for the next Annual Payment Period: (1) the total Debt Service Requirement on the Bonds for the Annual Payment Period after allowance for fund balances resulting from capitalized interest; (2) the total Non-Budgeted CRR Requirement for the Annual Payment Period; provided, however, such Requirement shall not exceed the balance of the CRR Fund, except as otherwise agreed upon by the Parties; (3) the total Repayment Requirement for GBRA DS Payment for the Annual Payment Period; provided, however, that such Requirement shall not exceed a sum that would cause the balance of the Hydro Fund to fall below $150,000 150,000, except as otherwise agreed upon by the Parties; (4) the total Operation and Maintenance Requirement for the Annual Payment Period; (5) the total Budgeted CRR Requirement for the Annual Payment Period; and (6) summary of all amounts due from the WCID for the Annual Payment Period and the dates on which such amounts are due and payable. (ii) A summary of the following information shall also be provided in conjunction with the annual GBRA Budget and prior to the commencement of the Annual Payment Period: (1) any prior GBRA CRR Payment and GBRA DS Payment funded by GBRA and the total accumulated and outstanding GBRA CCR Payments and GBRA DS Payments including interest thereon, for which GBRA has not yet been reimbursed; and (2) the estimated amount of the Annual GBRA Payment to be made by GBRA to the WCID for such budget period. (iii) A breakdown summary of the projected five-year Capital Repair and Replacement budget. (iv) GBRA shall provide to the WCID within thirty (30) days of the end of the first three quarters of its fiscal year and within sixty (60) days of the end of the last quarter of its fiscal year, an update of the quarterly activities that shall include current operating costs, actual expenditures for CRR costs, Hydro Revenues and any updates to the GBRA Budget impacting the WCID’s obligations.

GBRA Budget. Not later than sixty (60) days before the commencement of each Annual Payment Period beginning with the Initial Annual Payment Period, GBRA shall prepare and furnish to the WCID an annual preliminary budget for the Project which shall contain the following information: (i) The following information concerning the Annual Requirement for the next Annual Payment Period: (1) the total Debt Service Requirement on the Bonds for the Annual Payment Period after allowance for fund balances resulting from capitalized interest; (2) the total Non-Budgeted CRR Requirement for the Annual Payment Period; provided, however, such Requirement shall not exceed the balance of the CRR Fund, except as otherwise agreed upon by the Parties; (3) the total Repayment Requirement for GBRA DS Payment for the Annual Payment Period; provided, however, that such Requirement shall not exceed a sum that would cause the balance of the Hydro Fund to fall below $150,000 100,000 except as otherwise agreed upon by the Parties; (4) the total Operation and Maintenance Requirement for the Annual Payment Period; (5) the total Budgeted CRR Requirement for the Annual Payment Period; and (6) summary of all amounts due from the WCID for the Annual Payment Period and the dates on which such amounts are due and payable. (ii) A summary of the following information shall also be provided in conjunction with the annual GBRA Budget and prior to the commencement of the Annual Payment Period: (1) any prior GBRA CRR Payment and GBRA DS Payment funded by GBRA and the total accumulated and outstanding GBRA CCR Payments and GBRA DS Payments including interest thereon, for which GBRA has not yet been reimbursed; and; (2) the estimated amount of the Annual GBRA Payment to be made by GBRA to the WCID for such budget period. (iii) A breakdown summary of the projected five-year Capital Repair and Replacement budget. (iv) GBRA shall provide to the WCID within thirty (30) days of the end of the first three quarters of its fiscal year and within sixty (60) days of the end of the last quarter of its fiscal year, an update of the quarterly activities that shall include current operating costs, actual expenditures for CRR costs, Hydro Revenues and any updates to the GBRA Budget impacting the WCID’s obligations.