Operating purposes definition

Operating purposes means all purposes for which ad valorem property taxes are levied by the taxing unit other than the levy of ad valorem property taxes to provide local school districts revenue that is deposited in a building and site fund, or to pay principal and interest due on a bond or note if and to the extent the ad valorem taxes levied for this purpose are in addition to charter or statutory limitations, as authorized by the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Operating purposes means all purposes for which ad valorem property taxes are levied by the taxing

Operating purposes means all purposes for which ad valorem property taxes are levied by the taxing unit other than the levy of ad valorem property taxes to provide local school districts revenue that is deposited in a building and site fund, or to pay principal and interest due on a bond or note if and to the extent the ad

Examples of Operating purposes in a sentence

• Manager may also maintain house banks or ▇▇▇▇▇ cash funds as reasonably required for Operating purposes.

• If the grant is for General Operating purposes, it is not earmarked or designated for any specific project or activities.

• General Operating purposes Segment 2) Term out outstanding overdraft Segment 3) Office Building Segment 4) 40% interest in Sea Tec Belize Ltd.

• General Operating purposes Segment 2) General Corporate purposes INTEREST RATES: Segment 1) USD/KYD Prime + 1%/LIBOR + 1.50% Segment 2) LIBOR + 1.50% The Borrower shall pay interest monthly in arrears on Prime-based facilities at the annual rate set out above calculated on a daily basis and based on the actual number of days elapsed in the period for which interest is being calculated divided by 365.