Fiscal Hardship definition

Fiscal Hardship is defined in the City of Long Beach Municipal Code Section 3.94.
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Fiscal Hardship means an economic hardship, or other unanticipated fiscal emergency, that has been declared by resolution of the Board of Directors.
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Fiscal Hardship is defined in City of Long Beach Municipal Code Section 3.94.030.C. Any changes to the MOU as a result of this reopener will be based on mutual agreement.
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Examples of Fiscal Hardship in a sentence

  • On Thursday, May 13, the second Fiscal Hardship Forum will be held.

  • Also, what opportunities do you envision that would aid in success?” Clearly, in the minds of many, The Impact of Fiscal Hardship on Local Government Forum was a golden opportunity.

  • Motion carried by the following roll call vote: AYES: Council Members CHIN, GONZALES, SORENSEN, AYERSNOES: Council Members NONE ABSTAIN: Council Members NONE ABSENT: Council Members THOMAS Motion was made by Vice Mayor CHIN, seconded by Council Member SORENSEN, to add the Fiscal Hardship Resolution as an urgency item to the City Council agenda as Item #14.

  • In the event of a Fiscal Hardship (as defined below), transfers of Sequestered Savings may be abated and/or the Pension Rate Stabilization Fund may be utilized for either normal or UAL costs until the Fiscal Hardship is no longer in effect.

  • Sequestered Surplus and Sequestered Savings (and any other amounts contributed by the District) shall be deposited in the Pension Rate Stabilization Fund and used solely for the purpose of making ADP’s (and Normal Cost payments during a Fiscal Hardship, and/or to the extent the amount therein exceeds the Pension Rate Stabilization Fund Maximum, as described below) to CalPERS for the purpose of achieving and maintaining Funding Level Objective.

  • Resolution Finding Severe Fiscal Hardship Will Exist if Additional Local Property Taxes Are Seized and Additional Unfunded Mandates are Adopted by State of California.

  • The League has developed the attached Resolution Finding A Severe Fiscal Hardship Will Exist if this proposed state property tax raid is added to the pressures of the ongoing property tax losses and the serious revenue losses due to the economic recession.


More Definitions of Fiscal Hardship

Fiscal Hardship means an economic hardship, or other unanticipated fiscal emergency, that has been declared by resolution by the Port Commission.
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Related to Fiscal Hardship

  • Financial Hardship means a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, or a dependent (as defined in Code Section 152, without regard to Code Section 152(b)(1), (b)(2), and (d)(1)(B))) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, but shall in all events correspond to the meaning of the term “unforeseeable emergency” under Code Section 409A.

  • Eligible Crisis or Emergency means an event that has caused, or is likely to imminently cause, a major adverse economic and/or social impact to the Recipient, associated with a natural or man-made crisis or disaster.

  • Qualified employee means an individual who: