System Board Requests for Direct Intercept of State School Aid Payments Sample Clauses

System Board Requests for Direct Intercept of State School Aid Payments. If the System Board directs that a portion of the System’s State School Aid Payments be forwarded by the Fiscal Agent to a third party account for the payment of System debts and liabilities, the System shall submit to the Fiscal Agent both of the following: (a) a copy of the System Board’s resolution authorizing the direct intercept of State School Aid Payments; and (b) a copy of a State School Aid Payment agreement and direction document in a form and manner acceptable to the Fiscal Agent.
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Related to System Board Requests for Direct Intercept of State School Aid Payments

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