City Funding. City agrees to provide proceeds from the City’s Room Tax to Contractor for the services provided under this Agreement. The City will provide up to 30% of the proceeds from a tax rate of 9% and 70% of the proceeds from any tax rate in excess of 9% (10% on June 1, 2014 and 10.4% on June 1, 2015), less the City’s administrative costs (audit and overhead costs). The amount paid monthly to Contractor shall be based on City projections as to the amount of revenue forecasted to be received by Room Tax receipts adjusted by the prior month’s budget to actual variance, subject to 3(d) above.
City Funding. The City shall pay Hanzon Studios an amount not to exceed Seven Hundred Thousand and 00/100 dollars ($700,000.00) (the “Advance”), in the manner set forth below, which shall be used by Hanzon Studios for expenses directly related to the development, promotion, staging and realization of Camp Christmas (“Camp Christmas Expenses”).
City Funding. The City will endeavor to obtain funding to apply towards the cost of improvements within the Summit Street Commercial Corridor consistent with the SSIP. The City will also pursue grant dollars that may be available to match the City’s commitment. ProMedica will work with the City to pursue grant dollars and private funding to support these improvements.
City Funding. The State acknowledges that the City intends to finance with an outside lender/financial institution the cost of the initial development of the City connecting to the State's ePermit System. The City will not be financing the ongoing maintenance costs and the other ongoing costs. The State will cooperate with the City and its chosen lender to complete the City's financing transaction. The City acknowledges that its financing of the initial development costs associated with connecting to the State's ePermit System will in no way obligate the State to expend its own funds with respect to the City financing and the repayment of the City financing is solely the responsibility of the City. Notwithstanding Section 8 of this Agreement, if the City's lender requires an assignment of this Agreement for financing purposes, the State will consent to such limited assignment.
City Funding. (A) As a part of the City’s FY 21 operating budget the Manassas City Council has approved and appropriated funding for HMI in the amount of Two Hundred Ninety-Seven Thousand, Seven hundred and 00/100 Dollars ($297,700.00). That amount shall be paid to HMI by the City, by mutually agreeable means, on July 1, 2020.
City Funding. Subject to the provisions City will advance the amount of [●] (the “City Funding”), the City Funding will be advanced in accordance with the Funding Schedule set out in Section 4.3 upon the conditions set out in Section 4.4, either being satisfied or waived and in accordance with the terms and conditions of Article 5.
City Funding. City shall, contemporaneous with this MOU and pursuant to the terms of a separate agreement (the Funding Agreement), provide the 2015 Committee with $450,000 in funds from Citys Major Events Revolving Fund (MERF) previously identified by City Council for support of a 2015 Celebration. The Funding Agreement will set forth the requirements for expenditure and reporting related to the funds.
City Funding. 4.1 It is understood and agreed that if CCMGC projects and/or incurs an operating deficit, CCMGC may apply for a loan, according to City’s procedures.
City Funding. 4.1 The City shall pay to UCAMA the City Funding, for the sole purpose of building the Facility. The City shall pay the City Funding to UCAMA in three (3) equal annual payments, each in the sum of one million ($1,000,000) dollars, with the first payment to be made on or before the Commencement Date and thereafter during the Term on the anniversary date of the Commencement Date or earlier at the City’s discretion.
City Funding. The City shall pay BNSF for all actual labor costs, material costs, equipment costs, and other costs and expenses incurred by BNSF in performing the railroad work required for construction of the Project in a total amount not to exceed $2,400,000.00. This amount consists of the estimated construction cost of $1,830,535.00 as set forth in Exhibit “B”, $140,000 for flagging, and a construction contingency fund of $429,465.00. The construction contingency fund shall be used to reimburse BNSF if its actual construction costs exceed the estimated construction costs. If during the course of construction BNSF anticipates that its actual construction costs will exceed the estimated construction cost, BNSF shall promptly notify the City so additional funds can be appropriated to complete construction of the railroad work required for the Project. BNSF may discontinue construction activities until such time as the City notifies BNSF that sufficient additional funds have been appropriated. If the City fails to appropriate sufficient additional funds, BNSF may terminate this Agreement pursuant to Article III, section 3.
