General Legal Requirements for Use of Funds Clause Samples
The "General Legal Requirements for Use of Funds" clause establishes the obligation for parties to use provided funds in compliance with all applicable laws and regulations. Typically, this means recipients must ensure that expenditures align with federal, state, and local legal standards, such as anti-fraud statutes or restrictions on certain types of purchases. By setting these expectations, the clause helps prevent misuse of funds and protects both parties from legal liability arising from improper or unlawful spending.
General Legal Requirements for Use of Funds. Recipient acknowledges that State law, City ordinance, and City policies govern the use of PARC Tax revenues. Without expanding Recipient’s allowed uses of the Funds set forth in Section 3.2.1, Recipient agrees that it will comply with the following general requirements regarding the use of the Funds: