Town Contribution. Effective December 13, 1998, the Town ceased its participation in the Public Employee Retirement System "Employer Paid Member Contributions" (EPMC) provision. Concurrently, the Town began paying in salary to the employees covered by this memorandum of understanding the equivalent dollar amount of the former EPMC (9% of salary). These employees were then responsible for making their own member contributions. The POA acknowledged that implementation of this change had a cost impact to the Town which was equivalent to approximately 1.6% of total compensation. Substantially concurrent with the adoption of the 1998-2000 memorandum of understanding, the Town Council adopted a Resolution materially the same as that recommended by the Public Employee Retirement System to implement the provisions of 414 (h) (2) of the Internal Revenue Code (IRC). The POA accepted the terms of this Resolution and acknowledged that the Resolution will apply to all current and future members of the POA during the term of this agreement. The Town contracts with the California Public Employees’ Retirement System (CalPERS or PERS) to provide Town employees with retirement benefits.
Town Contribution. Effective December 13, 1998, the Town ceased its participation in the Public Employee Retirement System "Employer Paid Member Contributions" (EPMC) provision. Concurrently, the Town began paying in salary to the employees covered by this memorandum of understanding the equivalent dollar amount of the former EPMC (9% of salary). These employees were then responsible for making their own member contributions. The POA acknowledged that implementation of this change had a cost impact to the Town which was equivalent to approximately 1.6% of total compensation. Substantially concurrent with the adoption of the 1998-2000 memorandum of understanding, the Town Council adopted a Resolution materially the same as that recommended by the Public Employee Retirement System to implement the provisions of 414 (h) (2) of the Internal Revenue Code (IRC). The POA accepted the terms of this Resolution and acknowledged that the Resolution will apply to all current and future members of the POA during the term of this agreement.
Town Contribution. The Town agrees to contribute and assign a portion of the Funds, in one or more installments, to Maple Broadband to accelerate the deployment of affordable broadband. Maple Broadband shall provide a receipt for each installment. Maple Broadband shall utilize the Funds as a contribution toward the cost to implement its comprehensive plan for deployment of broadband within the District.
Town Contribution. The Town contribution shall be, but may not exceed, $1,000,000 which is fifty percent (50%) of the estimated cost of the Project; provided, however, that the Town may use other funds in excess of the Town contribution to pay for enhancements to the Project that benefit only the Town.
Town Contribution. The Town shall pay up to $50,000.00 toward the media and advertising costs incurred in the Marketing Campaign after the Eastons and the Grahams have made the contributions set forth in paragraph 2(b) herein. The Town will make payments directly to the advertisers (e.g., The Miami Herald, The Sun Sentinel).
Town Contribution. The Town agrees to fund up to $400,000 toward the acquisition of the property, which funding shall be due at closing.
