Common use of WCID Budget Clause in Contracts

WCID Budget. (i) Each annual budget of the WCID (the “WCID Budget”) shall provide for amounts sufficient to pay the Debt Service Requirement, Operation and Maintenance Requirement, and Budgeted CRR Requirement components of the Annual Requirement. The WCID hereby acknowledges its obligation to pay these three components of the Annual Requirement from available funds budgeted therefor. (ii) Each WCID Budget shall also provide amounts sufficient to pay the Non-Budgeted CRR Requirement and the Repayment Requirement components of the Annual Requirement, but only to the extent that available amounts exist in the CRR Fund and Hydro Fund respectively, unless otherwise agreed upon by the Parties. Any amount of the Non-Budgeted CCR Requirement and Repayment Requirement for which there are insufficient funds in the CRR Fund and Hydro Fund respectively to pay, shall be carried over to the next fiscal year’s WCID Budget with interest. (iii) The first WCID Budget shall be compiled and provided to GBRA no later than September 1st of the Initial Annual Payment Period. Thereafter, each year the WCID Budget shall be compiled and provided to GBRA no later than ten (10) days prior to the start of the next Annual Payment Period.