Vote to Incur Debt Sample Clauses

Vote to Incur Debt. The Committee may vote to incur debt consistent with the terms and conditions of MGL, Ch. 71, Sec. 16, as amended. At the time of taking action to incur debt, and except for the incurring of temporary debt in anticipation of revenue, the Committee will vote by two-thirds (2/3) weighted vote of all of its members and will choose either the process that appears in subsection (d) or (n) of Ch. 71, Sec. 16 to incur this debt.
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Vote to Incur Debt. 18 19 The Committee may vote to incur debt consistent with the terms and conditions 20 of MGL, Ch. 71, Sec. 16, as amended. At the time of taking action to incur debt, 21 and except for the incurring of temporary debt in anticipation of revenue, the 22 Committee will vote by two-thirds (2/3) weighted vote of all members present 23 and willchoose either the process that appears insubsection (d) or (n) of Ch. 71, 24 Sec. 16 to incur this debt. 26 B. Debt Authorization 27 28 Notice of any debt authorization shall be given to the member municipalities 29 in accordance with the applicable law, or within seven days of the relevant vote 30 of the Committee, whichever is less. No such debt shall be incurred unless 31 written notice of the amount of the debt and the general purpose for which it 32 was authorized shall be given to the MGB of each member municipality. 33 Thereinafter, notwithstanding any provision of applicable law,such debt shall not 34 actually be incurred until the amount of the proposed debt has been specifically 35 approved by a majority vote at the next annual or special municipal meeting in 36 each member municipality for the District High School, and by each member 37 municipality for schools leased by the member municipalities to the district, or 38 until the expiration of sixty (60) days from the date on which the Committee 39 votes to authorize said debt. 40 41 SECTION XIITUITION STUDENTS 42 43 The Committee may accept for enrollment in the Regional District Schools pupils from 44 municipalities other than the member municipalities on a tuition basis and on such terms as 1 it may determine. Income received by the Regional School District from tuition pupils shall 2 reduce the assessments to the respective member municipalities educating the tuition 3 students. This tuition shall be deducted from the total operating costs in the next annual 6 The foregoing Amended Agreement was duly accepted and approved (1) by vote 7 of the Dighton-Rehoboth Regional District School Committee, duly adopted at a 8 meeting of said Committee, duly called and held on (2) by vote of 9 the Town of Dighton duly adopted under Article _ of the Warrant at its Town 10 Meeting duly called and held on _ and (3) by vote of the Town of 11 Rehoboth duly adopted under Article of the Warrant at its Town Meeting 12 duly called held on .

Related to Vote to Incur Debt

  • Limitation on Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Additional Indebtedness This Indenture does not restrict the Corporation from incurring additional indebtedness for borrowed money or other obligations or liabilities (including Senior Indebtedness) or mortgaging, pledging or charging its properties to secure any indebtedness or obligations or liabilities.

  • Payment of Indebtedness Pledgor will pay the principal sum of the Note secured hereby, together with interest thereon, at the time and in the manner provided in the Note.

  • CERTIFICATE OF INDEBTEDNESS A certificate signed by the officer of Maybank as to the monies for the time being due and owing to Maybank from the Cardmember shall be conclusive evidence or proof that the amount appearing therein is due and owing and payable by the Cardmember to Maybank.

  • Debt and Stock Redemption 2. (a) Bancshares and any nonbank subsidiary shall not, directly or indirectly, incur, increase, or guarantee any debt without the prior written approval of the Reserve Bank. All requests for prior written approval shall contain, but not be limited to, a statement regarding the purpose of the debt, the terms of the debt, and the planned source(s) for debt repayment, and an analysis of the cash flow resources available to meet such debt repayment.

  • Application to Investments This Agreement shall apply to investments made in the territory of either Contracting Party in accordance with its laws, regulations or national policies by investors of the other Contracting Party prior to as well as after the entry into force of this Agreement.

  • Evidence of Indebtedness (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.

  • Leverage Ratio The Borrower will not permit the Leverage Ratio to exceed 4.50 to 1.0 on the last day of any Fiscal Quarter.

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