Appropriation Payments definition
Examples of Appropriation Payments in a sentence
Further, the aggregate Annual Appropriation Payments to be made in each fiscal year shall not exceed an amount equal to the corresponding Appropriated Amount (for example, assuming there are Annual Appropriation Payments due on December 1, 2024 and on June 1, 2025, the aggregate maximum amount of such Annual Appropriation Payments would be determined by the Appropriated Amount determined for certification by December 1, 2023).
In any given fiscal year, if the City Council determines to not obligate the then-considered Appropriated Amount, then the City will be under no obligation to fund the Annual Appropriation Payments scheduled to become due in the following fiscal year, and the Company will have no rights whatsoever to compel the City to make such Annual Appropriation Payments, to seek damages relative thereto, or to compel the funding of such Payments in future fiscal years.
This data will be sourced from the School Appropriation Payments Application (SAPA) following the last appropriation payment for the year.
Further, the aggregate Annual Appropriation Payments to be made in each fiscal year shall not exceed an amount equal to the corresponding Appropriated Amount (for example, assuming there are Annual Appropriation Payments due on December 1, 2023 and on June 1, 2024, the aggregate maximum amount of such Annual Appropriation Payments would be determined by the Appropriated Amount determined for certification by December 1, 2022).
For example, assuming that both Certificates of Occupancy are issued for the Project by June 30, 2024, then the Annual Appropriation Payments will be made on each December 1 and June 1, beginning on December 1, 2024.
Non-appropriation/Insufficient Appropriation: Payments pursuant to this Contract are subject to the availability of applicable federal and/or state funding from the Department of Commerce and Economic Opportunity, here in after referred to as DCEO and their appropriation and authorized expenditures under State law.
For example, assuming that both Certificates of Occupancy are issued for the Project by June 30, 2024, then the Annual Appropriation Payments will be made on each December 1 and June 1, beginning on December 1, 2024 and continuing through the sooner of June 1, 2028.
Insufficient Appropriation Payments pursuant to this Agreement are subject to the availability of applicable federal and/or state funding from the Department and their appropriation and authorized expenditures under State law.
In any given fiscal year, if the City Council determines to not obligate the then- considered Appropriated Amount, then the City will be under no obligation to fund the Annual Appropriation Payments scheduled to become due in the following fiscal year, and the Company will have no rights whatsoever to compel the City to make such Annual Appropriation Payments, to seek damages relative thereto, or to compel the funding of such Payments in future fiscal years.