Common use of Reimbursement Requirements Related to Bonded Marchiselli Match Clause in Contracts

Reimbursement Requirements Related to Bonded Marchiselli Match. The Sponsor’s reimbursement requests are restricted to eligible project costs. To be classified as an “eligible project cost” the original expenditure must have been paid within the past 15 months to comply with Federal Tax Law (26 CFR 1.150-2 (d)(2)(i)) which governs fund disbursements from the issuance of tax-exempt bonds. Hence, expenditures paid more than 15 months prior to the reimbursement request are ineligible for reimbursement. This requirement specifically applies to reimbursements under the Marchiselli Program and Bridge NY Program Culvert Projects.

Reimbursement Requirements Related to Bonded Marchiselli Match. The Sponsor’s reimbursement requests are restricted to eligible project costs. To be classified classif ied as an “eligible project cost” the original expenditure must have been paid within the past 15 months to comply with Federal Tax Law (26 CFR 1.150-2 1.150 -2 (d)(2)(i)) which governs fund disbursements from the issuance of tax-exempt bonds. Hence, expenditures paid more than 15 months prior to the reimbursement request are ineligible for reimbursement. This requirement specifically applies to reimbursements under the Marchiselli Program and Bridge NY Program Culvert Projects.