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.
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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
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Financial Powers 
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Related to Financial Powers

  • Financial Position The Borrower has heretofore furnished to the Lenders its consolidated balance sheet and statements of income, stockholders’ equity and cash flows as of and for (a) the fiscal years ended December 31, 2014 and 2013 reported on by Ernst & Young LLP, independent public accountants and (b) the six months ended June 30, 2015. Such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the Borrower and its consolidated subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the statements referred to in clause (b) above.

  • Financial Printer The Company shall retain a financial printer, reasonably acceptable to the Representative, for the purpose of facilitating the Company’s ▇▇▇▇▇ filings and the printing of the Preliminary Prospectus and Prospectus.

  • General Powers The business and affairs of the corporation shall be managed by or under the direction of the board of directors.

  • Portfolio Accounting Services (1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s investment adviser. (2) For each valuation date, obtain prices from a pricing source approved by the board of trustees of the Trust (the “Board of Trustees”) and apply those prices to the portfolio positions. For those securities where market quotations are not readily available, the Board of Trustees shall approve, in good faith, procedures for determining the fair value for such securities. (3) Identify interest and dividend accrual balances as of each valuation date and calculate gross earnings on investments for each accounting period. (4) Determine gain/loss on security sales and identify them as short-term or long-term; account for periodic distributions of gains or losses to shareholders and maintain undistributed gain or loss balances as of each valuation date. (5) On a daily basis, reconcile cash of the Fund with the Fund’s custodian. (6) Transmit a copy of the portfolio valuation to the Fund’s investment adviser daily. (7) Review the impact of current day’s activity on a per share basis, and review changes in market value.

  • Financial Resources The Adviser has the financial resources available to it necessary for the performance of its services and obligations contemplated in the Pricing Disclosure Package, the Prospectus, and under this Agreement, the Investment Management Agreement and the Administration Agreement.