Common use of Initial Contribution for Annual Operating Costs Clause in Contracts

Initial Contribution for Annual Operating Costs. Within thirty (30) days of the Effective Date, each Member except the City of Los Altos Hills and the City of Monte Sereno shall make an initial operating costs contribution of $13,157 to the Authority. The City of Los Altos Hills and the City of Monte Sereno shall each make an initial operating costs contribution of $8,000. Notwithstanding the above, any Member who has already contributed the identified amount pursuant to the Joint Funding Agreement for the 2009-2010 fiscal year need not make such initial operating costs contribution. Within thirty (30) days of the Restatement Date, the VTA shall make a contribution towards operating costs of $13,157 to the Authority.

Initial Contribution for Annual Operating Costs. Within thirty (30) days of the Effective Date, each Member except the City of Los Altos Hills and the City of Monte Sereno shall make an initial operating costs contribution of $13,157 to the Authority. The City of Los Altos Hills and the City of Monte Sereno shall each make an initial operating costs contribution of $8,000. Notwithstanding the above, any Member who has already contributed the identified amount pursuant to the Joint Funding Agreement for the 2009-2010 fiscal year need not make such initial operating costs contribution. Within thirty (30) days of the Restatement Date, the VTA shall make a contribution towards operating costs of $13,157 to the Authority.