Common use of Acquisition Fund Clause in Contracts

Acquisition Fund. There is hereby established with the District the Acquisition Fund. On the Closing Date, the Bank shall transfer to the District the amount of $15,000,000.00 for the acquisition, construction and installation of the 2023 Project. The District shall deposit moneys received from the Bank into the Acquisition Fund. The moneys in the Acquisition Fund shall be held by the District in trust and applied to the payment of the costs of acquisition, installation and construction of the 2023 Project, and of expenses incidental thereto, including costs of executing and delivering this Installment Purchase Agreement. Before any payment is made from the Acquisition Fund, the General Manager of the District shall cause to be filed with the Director of Finance of the District a Written Requisition of the District in the form set forth in Exhibit C hereto. Upon receipt of each such Written Requisition, the Director of Finance will pay the amount set forth in such Written Requisition as directed by the terms thereof. The Director of Finance need not make any such payment if he or she has received notice of any lien, right to lien or attachment upon, or claim affecting the right to receive payment of, any of the moneys to be so paid, which has not been released or will not be released simultaneously with such payment. When the 2023 Project shall have been constructed and acquired in accordance with this Installment Purchase Agreement, a statement of the District stating the fact and date of such acquisition, construction and acceptance, and stating that all of such costs of acquisition and incidental expenses have been determined and paid (or that all of such costs and expenses have been paid less specified claims which are subject to dispute and for which a retention in the Acquisition Fund is to be maintained in the full amount of such claims until such dispute is resolved), shall be delivered to the Bank. Upon the receipt of such statement, the Director of Finance shall transfer any remaining balance in the Acquisition Fund and not needed for Acquisition Fund purposes (but less the amount of any such retention which amount shall be certified to the Director of Finance by the General Manager) to the Revenue Fund.

Acquisition Fund. There is hereby established created with the District Agency a fund to be known as the “Acquisition Fund. On ,” which the Closing Date, the Bank Agency shall transfer to the District the amount of $15,000,000.00 for the acquisition, construction maintain and installation of the 2023 Project. The District shall deposit moneys received hold in trust separate and apart from the Bank into the Acquisition Fundother funds held by it. The moneys in the Acquisition Fund shall be held by the District in trust and applied to the payment of the costs of acquisition, installation and construction acquisition of the 2023 Project, 2020 Project and of expenses incidental thereto, including costs of executing and delivering this Installment Purchase Agreement. Before any payment is made from the Acquisition Fund, the General Manager of the District shall cause to be filed with the Director of Finance Chief Financial and Administrative Officer of the District Agency a Written Requisition of the District in the form set forth in Exhibit C hereto. Upon receipt of each such Written Requisition, the Director Chief Financial and Administrative Officer of Finance the Agency will pay the amount set forth in such Written Requisition as directed by the terms thereoftherein. The Director Chief Financial and Administrative Officer of Finance the Agency need not make any such payment if he or she has received notice of any lien, right to lien or attachment upon, or claim affecting the right to receive payment of, any of the moneys so to be so paid, which has not been released or and will not be released simultaneously with such payment. When the 2023 2020 Project shall have been constructed and acquired in accordance with this Installment Purchase Agreement, a statement of the District Agency stating the fact and date of such acquisition, construction and acceptance, acceptance and stating that all of such costs of acquisition and incidental expenses have been determined and paid (or that all of such costs and expenses have been paid less specified claims which are subject to dispute and for which a retention in the Acquisition Fund is to be maintained in the full amount of such claims until such dispute is resolved), shall be delivered to the BankChief Financial and Administrative Officer of the Agency and the Trustee by the Manager. Upon the receipt of such statement, the Director Chief Financial and Administrative Officer of Finance the Agency shall transfer any remaining balance in the Acquisition Fund and not needed for Acquisition Fund purposes (but less the amount of any such retention which amount shall be certified to the Director Chief Financial and Administrative Officer of Finance the Agency by the General Manager) to the Revenue Fund.

Acquisition Fund. There is hereby was previously established with the District the Acquisition Fund. On the Closing Date, the Bank shall transfer transferred to the District the amount of $15,000,000.00 for the acquisition, construction and installation of the 2023 Project. The District shall deposit deposited moneys received from the Bank into the Acquisition Fund. The moneys in the Acquisition Fund shall be held by the District in trust and applied to the payment of the costs of acquisition, installation and construction of the 2023 Project, and of expenses incidental thereto, including costs of executing and delivering this Installment Purchase Agreement. Before any payment is made from the Acquisition Fund, the General Manager of the District shall cause to be filed with the Director of Finance of the District a Written Requisition of the District in the form set forth in Exhibit C hereto. Upon receipt of each such Written Requisition, the Director of Finance will pay the amount set forth in such Written Requisition as directed by the terms thereof. The Director of Finance need not make any such payment if he or she has received notice of any lien, right to lien or attachment upon, or claim affecting the right to receive payment of, any of the moneys to be so paid, which has not been released or will not be released simultaneously with such payment. When the 2023 Project shall have been constructed and acquired in accordance with this Installment Purchase Agreement, a statement of the District stating the fact and date of such acquisition, construction and acceptance, and stating that all of such costs of acquisition and incidental expenses have been determined and paid (or that all of such costs and expenses have been paid less specified claims which are subject to dispute and for which a retention in the Acquisition Fund is to be maintained in the full amount of such claims until such dispute is resolved), shall be delivered to the Bank. Upon the receipt of such statement, the Director of Finance shall transfer any remaining balance in the Acquisition Fund and not needed for Acquisition Fund purposes (but less the amount of any such retention which amount shall be certified to the Director of Finance by the General Manager) to the Revenue Fund.

Acquisition Fund. There is hereby established with the District the Acquisition Fund. On the Closing Date, the Bank shall transfer to the District the amount of $15,000,000.00 for the acquisition, construction and installation of the 2023 Project. The District shall deposit moneys received from establish, maintain and hold in trust a separate fund designated as the Bank into the “Acquisition Fund. .” The moneys in the Acquisition Fund shall be held by the District in trust and applied by the Treasurer of the District to the payment of the costs of acquisition, installation acquisition and construction of the 2023 Project, WIFIA-Financed Portion of the WIFIA Project and of expenses incidental thereto, including costs of executing and delivering this Installment Purchase Agreement. Before any payment is made from the Acquisition FundFund by the Treasurer, the General Manager of the District District, acting as agent of the Authority, shall cause to be filed with the Director of Finance Treasurer a certificate of the District a Written Requisition of and the District Authority in the form set forth in Exhibit C heretoB to this Installment Purchase Agreement. Upon receipt of each such Written Requisitioncertificate, the Director of Finance Treasurer will pay the amount that is set forth in such Written Requisition certificate as directed by the terms thereofthereof or disburse funds to the District for such payment as directed by the District in such certificate. The Director of Finance Treasurer need not make any such payment if he or she it has received notice of any lien, right to lien or lien, attachment upon, upon or claim affecting the right to receive payment of, of any of the moneys to be so paid, which has not been released or will not be released simultaneously with such payment. When the 2023 WIFIA-Financed Portion of the WIFIA Project shall have been constructed and acquired in accordance with this Installment Purchase Agreement, a statement of the District stating the fact and date of such acquisition, construction and acceptance, acceptance and stating that all of such costs of acquisition and incidental expenses have been determined and paid (or that all of such costs and expenses have been paid less specified claims which are subject to dispute and for which a retention in the Acquisition Fund is to be maintained in the full amount of such claims until such dispute is resolved), shall be delivered to the BankTreasurer and the Authority Lender by the Manager of the District. Upon the receipt of such statement, the Director of Finance Treasurer shall transfer any remaining balance in the Acquisition Fund and which is not needed for Acquisition Fund purposes (but less the amount of any such retention retention, which amount shall be certified to the Director of Finance Treasurer by the General ManagerManager of the District) to the Revenue FundAuthority Lender for deposit in the WIFIA Debt Service Account.