Targeted Grants Fund Sample Clauses

Targeted Grants Fund. During the first 4 years following the Effective Date, Newry will annually contribute to a Targeted Education Fund to enhance the quality of education in SAD 44, the amount of the contribution to be recommended by the New Newry SAU School Committee and approved at the annual town meeting. Distributions from the Targeted Education Fund will be determined by the New Newry SAU School Committee, after considering recommendations from a committee that includes 3 representatives appointed by the New Newry SAU School Committee and 2 representatives appointed by the SAD 44 School Board. Expenditures ofThe any Targeted Education Funds shall be subject to the discretion of the SAD 44 School Board shall have discretion to accept or refuse any Targeted Education Funds.