Financial Powers Sample Clauses
The Financial Powers clause defines the authority granted to specific individuals or entities to make financial decisions or transactions on behalf of an organization or another party. Typically, this clause outlines the scope of permitted actions, such as signing checks, authorizing expenditures, or entering into financial agreements, and may specify limits or require approvals for certain amounts. Its core practical function is to clearly allocate financial decision-making authority, thereby reducing ambiguity and ensuring that only authorized persons can commit financial resources, which helps prevent unauthorized transactions and financial mismanagement.
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Financial Powers. The legislature has very important powers are the field of finance. It acts as the guardian of national purse. It regulates the "income and expenditure of the government in respect of its various projects, administrative and welfare. People's money must be controlled and spent under the supervision and control of their representatives to prevent its misuse and wasteful expenditure. The theory no taxation without representation recognises the supremacy of the legislature, which is the fund raising and fund granting authority. It is a fundamental principle, recognised in all civilized country, that no tax shall be collected or expenditure be made without the approval of the legislature. All proposals for financial legislation are routed through the popular chamber.
Financial Powers. Notwithstanding the foregoing, the Board shall have the exclusive oversight of the use and expenditures of all moneys collected to the credit of the District, provided such use and expenditures further the Purposes of the District and comply with the Definitive Agreements. The Board shall have and exercise all of the financial powers which may be exercised or performed by the District under C.R.S. § 32-1-1101 and C.R.S. § 32-1-1103, and all other applicable statutes of the State of Colorado, as amended from time-to-time. Without limiting the foregoing, the Board shall have the power to invest or have invested, as provided in C.R.S. § 32- 1-1101(5), C.R.S. § ▇▇-▇▇-▇▇▇, and in accordance with the Public Deposit Protection Act, C.R.S. § 11-10.5-101, et seq., each as amended from time-to-time, District monies and funds, or in the office of the Larimer County Treasurer in the District’s name, and to receive the interest, gains, and income there from. Additionally, subject to the pledge of the District’s revenue pursuant to the Definitive Agreements, the Board shall have the power to borrow money, to incur indebtedness, and to issue bonds and other evidence of such indebtedness as provided in C.R.S. § 32-1-1101, C.R.S. § 32-1-1103. and
Financial Powers