Earmarked Reserve definition
Examples of Earmarked Reserve in a sentence
WMRE shall notify the Secretary of State of the value of any savings generated pursuant to this clause 10, accompanied by details of how those savings have been calculated, as and when it requires payment into the Joint Savings Earmarked Reserve (but not more frequently than once every three months and not in respect of trivial amounts), and following receipt of a valid notification of savings, the Secretary of State shall have a period of 14 days in which to make payment.
A deficiency shall be taken to have arisen where monies in the Joint Savings Earmarked Reserve are applied other than in accordance with this Agreement or as otherwise agreed by the WMRE and the Secretary of State in writing.
WMRE may also, with the prior written consent of the Secretary of State, direct WMCA to transfer approved amounts out of the Joint Savings Earmarked Reserve to another local authority member of WMRE designated by WMRE on the basis that those monies shall be used to improve rail passenger services and/or associated rail facilities in the WMRE Area.
The Council will continue to utilise Council Tax Income on Second Homes Earmarked Reserve and commuted sums from developers to assist in the delivery of affordable housing.
WMRE shall notify the Secretary of State of the value of any savings generated pursuant to this clause 10, accompanied by details of how those savings have been calculated, as and when it requires payment into the Joint Savings Earmarked Reserve (but not more frequen tly than once every three months and not in respect of trivial amounts), and following receipt of a valid notification of savings, the Secretary of State shall have a period of 14 days in which to make payment.