Rural Municipal Compensation Fund definition

Rural Municipal Compensation Fund means the fund so titled to be established pursuant to the Amended Cost Sharing Agreement and administered by the Saskatchewan Association of Rural Municipalities for the purpose of receiving compensation payments from Canada and Saskatchewan and for disbursing such compensation to a Rural Municipality which experiences a reduction in Taxable Land as a result of Entitlement Land being set apart as an Entitlement Reserve;
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Examples of Rural Municipal Compensation Fund in a sentence

  • Arrears of any sums payable by Saskatchewan or Canada to the Rural Municipal Compensation Fund or the School Division Compensation Fund shall bear interest at the Interest Rate.

  • MUNICIPALITIES: Canada and Saskatchewan agree that, within ninety (90) days of the date upon which Taxable Land which had been situated within a Rural Municipality is set apart as an Entitlement Reserve, Saskatchewan shall pay to the Rural Municipal Compensation Fund thirty (30%) percent of a sum that is equivalent to ninety (90%) percent of twenty-five (25) times the Municipal Taxes which had been levied in respect of such Taxable Land in the calendar year immediately prior to the said date.

Related to Rural Municipal Compensation Fund

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Final compensation of a member means:

  • Revenue Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Eligible Compensation means (i) for eligible exempt employees, such employee’s base salary at the time the Bonus or Spot Bonus is determined (prorated for time in an eligible position), and (ii) for eligible non-exempt and non-union hourly employees, such employees’ eligible wages for the applicable year as determined by the Company to be required by law.