THE PROJECT CONSTRUCTION FUND Sample Clauses

THE PROJECT CONSTRUCTION FUND. A. The District shall identify and describe any fund or account, other than the Project Construction Fund (“Fund”) that is related to the Project. The District shall include in the Fund, sufficient funds as required by law, for issuance of any contracts during the duration of the project.
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THE PROJECT CONSTRUCTION FUND. The District shall identify and describe any fund or account, other than the Project Construction Fund (“Fund”) that is related to the Project. The District shall include in the Fund, sufficient funds as required by law, for issuance of any contracts during the duration of the project. The District shall be responsible for distributing moneys from the Fund upon receipt and approval of proper invoices. Transactions involving the Fund shall be restricted to: (1) payments for design and project management services, (2) payments to contractors, (3) purchases related to the project, 4) transactions authorized for establishing and administering the investment accounts and construction administration. No Fund moneys shall be spent for any items inconsistent with the provisions of the Arkansas School Facility Manual and Division policies, unless a variance is approved by the Division. The District shall not transfer moneys from the Fund, investment earnings credited to the Fund, to any other fund or account except as permitted by this Agreement or with the written approval of the Division. The District shall provide a full accounting of the Fund, upon request of the Division. The Division reserves the right to audit the Fund, or any expenditure related to the Fund or the Project. The contingency reserve portion of the construction budget shall be used to pay only costs resulting from unforeseen job conditions, to comply with rulings regarding building and other codes, to pay costs related to design clarifications or corrections to contract documents, and to pay the cost of settlements and judgments related to the Project, unless otherwise approved by the Division. If the Fund, including all investment earnings credited to the Fund, and any interest earned through completion of the Project, becomes depleted by payments of proper Project costs, the District shall complete the Project, by contributing additional funds. The State share is limited to the State financial participation as stated in the Agreement and any amendments. This Agreement is contingent on and subject to the District’s ability to raise appropriate local resources. The Agreement may be declared null and void and the State will have no further obligation to provide State funds to the District for the Project that is the subject of this Agreement if the District fails to raise local resources and apply local resources toward the Project as provided under this Agreement.
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THE PROJECT CONSTRUCTION FUND. A. The School District Board acknowledges that proper management of the Project Construction Fund (“Fund”) is an essential requirement of Segment One of the Project. The School District Board shall identify and describe any fund or account, other than the Project Construction Fund, that is related to the Project. The School District Board shall establish escrow accounts required by law for retainage on trade contracts.
Sample 1
THE PROJECT CONSTRUCTION FUND. A. The School District Board acknowledges that proper management of the Project Construction Fund (“Fund”) is an essential requirement of Segment One of the Project. The School District Board shall identify and describe any fund or account, other than the Project Construction Fund, that is related to the Project. Furthermore, the School District Board shall comply with the Uniform School Accounting System (USAS) as prescribed by the Ohio Auditor of State and any relevant technical bulletins. The School District Board shall establish escrow accounts required by law for retainage on trade contracts. The School District Board shall also utilize the Ohio Administrative Knowledge System-Capital Improvements (OAKS-CI) to track project contracts and expenditures upon availability for K thru 12 construction projects.
Sample 1
THE PROJECT CONSTRUCTION FUND. A. The District shall identify and describe any fund or account, other than the Project Construction Fund (“Fund”) that is related to the Project. The District shall include in the Fund, sufficient funds as required by law, for issuance of any contracts during the duration of the project. Formatted: Indent: Left: 0.5", Hanging: 0.31" Formatted: Indent: Left: 0.5", Hanging: 0.31", Tab stops: Not at 0.75"
Sample 1

Related to THE PROJECT CONSTRUCTION FUND

  • Project Construction The Contractor agrees to provide continuous on-site supervision on each Job Order, while progress on the project is being accomplished. The Contractor’s Project Manager will ensure:

  • Contract Construction 6.27.1 The parties acknowledge that each party and its counsel have reviewed this CONTRACT and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this CONTRACT or any amendment or exhibits hereto.

  • Construction of Project 11.1.1 Developer agrees to cause the Project to be developed, constructed, and installed in accordance with the terms hereof and the Construction Provisions set forth in Exhibit D, including those things reasonably inferred from the Contract Documents as being within the scope of the Project and necessary to produce the stated result even though no mention is made in the Contract Documents.

  • PRE-CONSTRUCTION PHASE FEE The Pre-Construction Phase Fee is the total compensation payable to Contractor for the performance of Pre-Construction Phase Services, except for Additional Pre-Construction Phase Services approved in advance and in writing by Owner. The Pre-Construction Phase Fee shall be a lump sum amount based on the AACC established in this Agreement.

  • DIRECT CONSTRUCTION COST Direct Construction Cost means the sum of the amounts that Contractor actually and necessarily incurs constructing the Project in strict compliance with the Construction Documents. Direct Construction Cost includes only the cost categories set forth in this Article and does not include the Pre-Construction Phase Fees or the Construction Phase Fees unless specifically noted. References in the UGSC to adjustments in “cost” or “costs” mean the Direct Construction Cost.

  • CONSTRUCTION OF THE PROJECT The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Apartment/ Plot and accepted the floor plan, payment plan and the specification, amenities and facilities annexed along with this Agreement which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the bye-laws, FAR, and density norms and provisions prescribed by the relevant building bye-laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of this Agreement.

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