Common use of Local Transit Fund Clause in Contracts

Local Transit Fund. Contributions by the Municipality towards eligible operating expenses that have been received but not matched with a Provincial share contribution will be deferred in the Local Transit Fund. i. Any expenditure of monies from the Local Transit Fund will: 1. only be credited towards the Municipality’s share of expenses for the transit system for which it was collected. 2. be applied to reduce Municipal invoices at the discretion of the Municipality as agreed to under the Annual Operating Agreement or amendments as required. ii. The Local Transit Fund may be used towards lease fees. iii. The Authority will provide a quarterly statement of account of the Local Transit Fund balance including contributions, amounts utilized and interest earned.

Local Transit Fund. Contributions by the Municipality towards eligible operating expenses Eligible Operating Expenses that have been received but not matched with a Provincial share contribution will be deferred in the Local Transit Fund. i. Any expenditure of monies from the Local Transit Fund will: 1. only be credited towards the Municipality’s share of expenses for the transit system for which it was collected. 2. be applied to reduce Municipal invoices at the discretion of the Municipality as agreed to under the Annual Operating Agreement or amendments as required. ii. The Local Transit Fund may be used towards lease feesLease Fees. iii. The Authority will provide a quarterly statement of account of the Local Transit Fund reserve balance including contributions, amounts utilized and interest earnedearned for the Local Transit Fund.

Local Transit Fund. Contributions by the Municipality towards eligible operating expenses that have been received but not matched with a Provincial share contribution will be deferred in the Local Transit Fund. i. Any expenditure of monies from the Local Transit Fund will: 1. only be credited towards the Municipality’s share of expenses for the transit system for which it was collected. 21. be applied to reduce Municipal invoices at the discretion of the Municipality as agreed to under the Annual Operating Agreement or amendments as required. ii. i. The Local Transit Fund may be used towards lease fees. iiiii. The Authority will provide a quarterly statement of account of the Local Transit Fund balance including contributions, amounts utilized and interest earned.

Local Transit Fund. Contributions by the Municipality towards eligible operating expenses Eligible Operating Expenses that have been received but not matched with a Provincial share contribution will be deferred in the Local Transit Fund. i. Any expenditure of monies from the Local Transit Fund will: 1. only be credited towards the Municipality’s share of expenses for the transit system for which it was collected. 21. be applied to reduce Municipal invoices at the discretion of the Municipality as agreed to under the Annual Operating Agreement or amendments as required. ii. i. The Local Transit Fund may be used towards lease feesLease Fees. iiiii. The Authority will provide a quarterly statement of account of the Local Transit Fund balance including contributions, amounts utilized and interest earned.

Local Transit Fund. Contributions by the Municipality towards eligible operating expenses Eligible Operating Expenses that have been received but not matched with a Provincial share contribution will be deferred in the Local Transit Fund. i. Any expenditure of monies from the Local Transit Fund will: 1. only be credited towards the Municipality’s share of expenses for the transit system for which it was collected. 21. be applied to reduce Municipal invoices at the discretion of the Municipality as agreed to under the Annual Operating Agreement or amendments as required. ii. i. The Local Transit Fund may be used towards lease fees. iiiLease Fees. The Authority will provide a quarterly statement of account of the Local Transit Fund balance including contributions, amounts utilized and interest earned.

Local Transit Fund. Contributions by the Municipality towards eligible operating expenses Eligible Operating Expenses that have been received but not matched with a Provincial share contribution will be deferred in the Local Transit Fund. i. Any expenditure of monies from the Local Transit Fund will: 1. only be credited towards the Municipality’s share of expenses for the transit system for which it was collected. 2. be applied to reduce Municipal invoices at the discretion of the Municipality as agreed to under the Annual Operating Agreement or amendments as required. ii. The Local Transit Fund may be used towards lease feesLease Fees. iii. The Authority will provide a quarterly statement of account of the Local Transit Fund balance including contributions, amounts utilized and interest earned.