Examples of Renewal and Replacement Fund in a sentence
Nonoperating expenses primarily include (a) interest expense on the Association’s debt (b) amortization of the Association’s intangible interest in its License Agreement with SCDOT, and (c) reimbursements of SCDOT highway maintenance expense from the 2011 Renewal and Replacement Fund as discussed in Note 1, item J below.
The proceeds of all such insurance policies shall be placed in the Renewal and Replacement Fund and used only for the repairs and restoration of the damaged and destroyed properties or for the other purposes provided herein for the Renewal and Replacement Fund.
The Arena Use Agreement created the Arena Renewal and Replacement Fund and established quarterly funding requirements beginning in fiscal year 2013.
In accordance with the Authority’s bond resolution, monies in the Renewal and Replacement Fund may be applied to the cost of improvements or betterment to, or the replacement of the water system.
Amounts held in the Renewal and Replacement Fund are recorded as investments in the accompanying statements of net position.