Interfund loan means a loan of cash from one fund to another, subject to future repayment.
Interfund loan means a transfer of assets from one fund to another, subject to future repayment.
Examples of Interfund loan in a sentence
Interfund Loan Rate does not exceed the interest rate on any third party borrowings of a borrowing Fund at the time of the Interfund Loan.
The Interfund Loan Rate on all interfund loans does not exceed the interest rate on any third party borrowings of a borrowing Fund at the time of the Interfund Loan.
The Interfund Loan Rate (as defined in the Application) does not exceed the interest rate on any third party borrowings of a borrowing Fund at the time of the Interfund Loan.We did not perform procedures to determine the operating effectiveness of controls for any period.
Without otherwise limiting the purposes for which proceeds of an Advance may be used as specified in Section 5.01(i), (x) a Borrower shall be expressly permitted to use the proceeds of an Advance to repay an outstanding Interfund Loan of such Borrower, subject to the conditions set forth in paragraph (i) above and the other conditions of this Agreement (including Section 5.01(i)) and (y) a Borrower shall be expressly permitted to use proceeds of an Interfund Loan to repay an outstanding Advance.
The Interfund Loan Rate on all interfund loans does not exceed the interest rate on any third party borrowings of a borrowing Fund at the time of the Interfund Loan.We believe that our examination provides a reasonable basis for our opinion.
More Definitions of Interfund loan
Interfund loan means a loan of cash from one fund to another, subject to future repayment; but it does not constitute an expenditure or a use of retained earnings, fund balance, or unappropriated surplus of the lending fund.
Interfund loan means any loan or advance by or to a Fund pursuant to an Interfund Lending Agreement.
Interfund loan means the interfund loan of non-federal funds from a fund of the City or the EDA, to be determined, which is used to finance the Reimbursement Amount to be paid to the Developer pursuant to Section 5.2, in an aggregate principal amount equal to the Reimbursement Amount with interest thereon at a rate per annum to be determined by the EDA, to be repaid with Tax Abatements, all as set forth in a resolution to be adopted by the EDA;
Interfund loan means the interfund loan of non-federal funds from a fund of the EDA to be determined which was used to finance the City’s costs of acquiring the Sale Property and the Access and Parking Easement and constructing the improvements to the parking lot located on the Sale Property, in the aggregate amount of $ with interest thereon at the rate of % per annum, all as set forth in a resolution to be adopted by the EDA; Net Tax Capacity has the meaning provided in Minnesota Statutes, Section 273.13, subd. 21b, as it may be amended from time to time; Option Agreement means the Option Agreement, between the EDA and the Developer, in the form attached as Exhibit G; Organizational Documents shall mean the following which shall be in form and substance acceptable to EDA and the City: (a) Articles of Organization and Operating Agreement of the Developer, accompanied by a Certificate of Good Standing from the Minnesota Secretary of State; (b) An opinion of counsel for Developer stating that the Developer is a Minnesota corporation duly organized and existing under the laws of the State of Minnesota, that this Agreement, the Option Agreement, each of the Developer’s Documents and each of the documents executed pursuant to Section 4.11 hereof have been duly executed and delivered and are the legal and binding obligations of Developer, enforceable in accordance with their respective terms, subject to matters of bankruptcy, stay, insolvency, reorganization or other laws relating to or affecting creditors’ rights generally or by principles of equity; Project means the acquisition and the renovation of the interior and exterior of the existing building located on the Development Property, including without limitation the Storefront Improvements and improvements to the parking lot for the Project as further described in Exhibit F; Sale Property means the real property consisting of an approximately 38,822 square foot area adjacent to the Development Property in the City and legally described in Exhibit A attached to this Agreement; Seller means C.H. and X. X. Xxxxx, X.X.X., a Minnesota limited liability partnership as the current owner of the Development Property and the Sale Property; State means the State of Minnesota;
Interfund loan means a transfer of assets from one fund to another, subject to
Interfund loan means a loan of cash from one fund to another, subject to future 616 repayment; but it does not constitute an expenditure or a use of retained earnings, fund balance,
Interfund loan means a transfer of assets from one fund to another, subject to 988 future repayment. 989 (18) "Interlocal entity general fund" means the general fund of an interlocal entity. 990 (19) "Internal service funds" has the meaning provided in generally accepted 991 accounting principles. 992 (20) "Last completed fiscal year" means the fiscal year immediately preceding the 993 current fiscal year. 994 (21) "Proprietary fund" means enterprise funds and the internal service funds of an 995 interlocal entity. 996 (22) "Public funds" means any money or payment collected or received by an interlocal 997 entity, including money or payment for services or goods provided by the interlocal entity. 998 (23) "Retained earnings" has the meaning provided in generally accepted accounting 999 principles. 1000 (24) "Special fund" means an interlocal entity fund other than the interlocal entity 1001 general fund. 1002 Section 24. Section 11-13-502 is enacted to read: 1003 11-13-502. Application -- Conflicts with federal law -- Other applicable law. 1004 (1) This part does not apply to a taxed interlocal entity as defined in Section 11-13-315. 1005 (2) Except as provided in Subsection (1), and notwithstanding any other provision of 1006 law, this part governs an interlocal entity's fiscal procedures but only to the extent that the 1007 provision does not conflict with or cause an interlocal entity to be noncompliant with federal 1008 law. 1009 (3) An interlocal entity is subject to Title 51, Chapter 7, State Money Management Act. 1010 Section 25. Section 11-13-503 is enacted to read: 1011 11-13-503. Fiscal year. 1012 The fiscal year of an interlocal entity shall be, as determined by the governing board: 1013 (1) the calendar year; or 1014 (2) the period from July 1 to the following June 30. 1015 Section 26. Section 11-13-504 is enacted to read: 1016 11-13-504. Uniform accounting system. 1017 An interlocal entity shall: