Payments to Constitute Currently Budgeted Expenditures; Certain Findings Sample Clauses

Payments to Constitute Currently Budgeted Expenditures; Certain Findings. The County and BB&T acknowledge and agree that the Rent due hereunder shall constitute currently budgeted and appropriated expenditures of the County and may be paid from any legally available funds. The County’s obligations under this Lease shall be subject to the County’s annual right to terminate this Lease, and shall not constitute a mandatory charge or requirement in any ensuing Fiscal Year beyond the then current Fiscal Year. No provision of this Lease shall be construed or interpreted as creating a general obligation, multiple fiscal year financial obligation, or other indebtedness of the County within the meaning of any constitutional or statutory debt limitation. No provision of this Lease shall be construed or interpreted as creating an unlawful delegation of governmental powers nor as a donation by or a lending of the credit of the County within the meaning of Sections 1 or 2 of article XI of the Constitution of the State. Neither this Lease nor the Site Agreement shall directly or indirectly obligate the County to make any payments beyond those duly budgeted and appropriated for the County’s then current Fiscal Year. The County shall be under no obligation whatsoever to exercise its option to purchase the Project. No provision of this Lease shall be construed to pledge or to create a lien on any class or source of County moneys, nor shall any provision of this Lease restrict the future issuance of any County bonds or obligations payable from any class or source of County moneys. The County hereby determines that the Rent due hereunder during the Lease Term represents the fair value of the use of the Leased Property. The County hereby determines that the Rent does not exceed a reasonable amount so as to place the County under an economic compulsion to renew this Lease. In making such determinations, the County has given consideration to the estimated current value of the Leased Property, the uses and purposes for which the Leased Property will be employed, the benefit to the citizens and inhabitants of the County, and the use and occupancy of the Leased Property pursuant to the terms and provisions of this Lease and the Site Agreement. (End of Article IV) ARTICLE V
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Related to Payments to Constitute Currently Budgeted Expenditures; Certain Findings

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Administrative and Operating Expenses Charged to the Judicial Council The Judicial Council may reimburse the Contractor for itemized administrative and operating expenses, pursuant to this exhibit, that are reasonable, allowable, and allocable in performing the Work of this Agreement, provided that the Judicial Council first approves such charges via one (1) or more BEO’s that set forth the final details on these items.

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