Common use of Funding Assurances Clause in Contracts

Funding Assurances. It is the intent of this Agreement that the Member Library have sufficient local funding to ensure its status as a “public library” entitling it to state aid under the State Aid Act, Public Act 89 of 1997 as amended. For purposes of evaluating local funding, all Library Support as herein defined will be used to calculate this figure. If the amount of the Member Library’s local funding jeopardizes its qualifications and eligibility for state aid pursuant to PA 89, TADL will make an additional monetary payment or provide library-related services in such amount as necessary to maintain the Member Library’s status as a public library eligible for state funding.

Appears in 5 contracts

Samples: Member Library Agreement, Member Library Agreement, Member Library Agreement

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