Common use of Safeguarding of Funds Clause in Contracts

Safeguarding of Funds. Authority funds shall be deposited in a qualified public depository as required by law. The Authority shall establish a special fund with the County treasurer to be designated the “Operating fund of the King County Regional Homelessness Authority. The County shall act as the fiscal agent and Treasurer of the Authority with the authority to hold and invest funds on the Authority’s behalf and make payments for approved expenditures.

Safeguarding of Funds. Authority funds shall be deposited in a qualified public depository as required by law. The Authority shall establish a special fund with the County treasurer to be designated the “Operating fund Fund of the King County Regional Homelessness Authority. .” The County shall act as the fiscal agent and Treasurer of the Authority with the authority to hold and invest funds on the Authority’s behalf and make payments for approved expenditures.