Reasonably Required Reserve Fund. (i) In that the Board has no taxing power, and no legal authority to raise revenue above the amounts provided by existing sources (local taxes levied at fixed rates for the benefit of the Board and state funds), the Board may establish and maintain at Cadence, a reasonably required reserve fund for the payment of Periodic Payments, provided:
Appears in 2 contracts
Samples: Master Agreement, Master Agreement
Reasonably Required Reserve Fund. (ia) In that the Board has no taxing power, and no legal authority to raise revenue above the amounts provided by existing sources (local taxes levied at fixed rates for the benefit of the Board and state funds), the Board may establish and maintain at Cadence, a reasonably required reserve fund for the payment of Periodic Paymentsthe principal and interest on the Revolving Credit Note, provided:
Appears in 2 contracts
