Deposit and Application of Connection Fees Sample Clauses

Deposit and Application of Connection Fees. All Connection Fees received by a District shall be deposited when and as received in such District’s Capital Improvement Fund. Each District shall apply the Connection Fees on deposit in its Capital Improvement Fund to the payment of the costs of acquiring, constructing and installing improvements to the Sewerage System of such District to which such Connection Fees may be properly applied. Additionally, a District may from time to time (a) transfer Connection Fees from its Capital Improvement Fund to its Senior Obligation Payment Fund to be applied to the payment of Outstanding Senior Obligations of such District, but only if and to the extent that such Connection Fees may be lawfully applied to the payment of such Senior Obligations, and (b) transfer Connection Fees from its Capital Improvement Fund to its Subordinate Obligation Payment Fund to be applied to the payment of Outstanding Subordinate Obligations of such District, but only if and to the extent that such Connection Fees may be lawfully applied to the payment of such Subordinate Obligations.
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Related to Deposit and Application of Connection Fees

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