Examples of Administrative Expenses Cap in a sentence
The City may semi-annually transfer from the Special Taxes so held an amount equal to one-half of the Administrative Expenses Cap as necessary to make timely payment of Administrative Expenses.
The Administrative Expenses Cap is equal to $75,000, escalating at 2.00% per Fiscal Year, commencing July 1, 2021.
From Special Taxes deposited by the City Treasurer in Special Tax Fund A in each Fiscal Year, the District may retain up to an amount equal to the Administrative Expenses Cap for such Fiscal Year for the purpose of paying Administrative Expenses and as and to the extent permitted by Section 3.3 above.
If an entity determines that it is or is projected to be a Covered Provider, then the entity must calculate its administrative and program services expenses to establish compliance with the Administrative Expenses Cap.
Notwithstanding the foregoing, the District may modify, alter or amend the RMA in any manner so long as such changes do not reduce the maximum Special Taxes that may be levied in each year on Developed Property below the amounts which will equal at least the sum of the Administrative Expenses Cap and 110% of gross debt service in each Bond Year on all Bonds and Parity Bonds Outstanding.