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Common use of TAX LOSS COMPENSATION Clause in Contracts

TAX LOSS COMPENSATION. 12.01 CANADA'S COMPENSATION - RURAL MUNICIPALITIES: Canada and Saskatchewan agree that, within ninety (90) days of the date upon which Taxable Land which had been situated within a Rural Municipality is set apart as an Entitlement Reserve, Canada shall pay to the Rural Municipal Compensation Fund seventy (70%) percent of a sum that is equivalent to ninety (90%) percent of twenty- five (25) times the Municipal Taxes which had been levied in respect of such Taxable Land in the calendar year immediately prior to the said date.

Appears in 2 contracts

Samples: Settlement Agreement, Settlement Agreement

TAX LOSS COMPENSATION. 12.01 CANADA'S COMPENSATION - RURAL MUNICIPALITIES: Canada and Saskatchewan agree that, within ninety (90) days of the date upon which Taxable Land which had been situated within a Rural Municipality is set apart as an Entitlement ReserveReserve for the Band, Canada shall pay to the Rural Municipal Compensation Fund seventy (70%) percent of a sum that is equivalent to ninety (90%) percent of twenty- twenty-five (25) times the Municipal Taxes which had been levied in respect of such Taxable Land in the calendar year immediately prior to the said date.

Appears in 2 contracts

Samples: Treaty Land Entitlement Settlement Agreement, Treaty Land Entitlement Settlement Agreement