Common use of NOTICE RESPECTING TRANSFER OF TAXABLE LAND Clause in Contracts

NOTICE RESPECTING TRANSFER OF TAXABLE LAND. (a) Canada shall use its best efforts to give Saskatchewan appropriate prior notice of the date upon which it is intended that any Taxable Land is to be set apart as an Entitlement Reserve. (b) Saskatchewan shall use its best efforts to ensure that the Saskatchewan Association of Rural Municipalities ("SARM") receives appropriate prior notice in respect of the proposed creation of an Entitlement Reserve following receipt of notice to such effect from Canada as aforesaid, and that SARM determines, on or before the date such Taxable Land is set apart as an Entitlement Reserve, the Municipal Taxes and School Taxes which had been levied in respect of such Taxable Land in the calendar year immediately prior to the said date. (c) In the event of any dispute as to the appropriate amount of tax loss compensation payable to the Rural Municipal Compensation Fund or the School Division Compensation Fund, the same shall be the subject of Arbitration pursuant to Article 19 and SARM shall have standing before the Arbitration Board.