Facilities Fund definition
Examples of Facilities Fund in a sentence
MassDevelopment has adopted the “Fund Rules and Guidelines”, which were drafted by the Council with the advice of the Massachusetts Cultural Facilities Fund Advisory Committee established by the Act (the “Committee”).
The School Board shall make, or cause to be made by the County on its behalf, deposits into the Facilities Fund sufficient to pay the remaining Local Share of Eligible Project Costs for each Project assumed by MSA in accordance with a schedule determined by MSA in its reasonable discretion.
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In order to access the final 10% of the grant, Grantee must provide MassDevelopment with the Cultural Facilities Fund Final Certification attached as Exhibit D.
The Grantee also agrees to provide information about the Project and the Grantee when and if requested by MassDevelopment or the Council in order to assess the economic impact of the Cultural Facilities Fund grants, as well as any information MassDevelopment or the Council may require for the Fund’s annual report to the Legislature.
Whenever Cultural Facilities Fund funds of $500.00 or more are used towards the purchase or construction of personal property, ownership of such property shall rest with the City and such property shall be considered to be on loan to the Recipient.
All project budget revisions and Cultural Facilities Fund funds must be approved by the Project Manager prior to expenditure.
Interest earnings and profits resulting from said investment shall be retained by the School District in the Community Facilities Fund to be used for the purposes of such fund.
The cost for any services rendered or any expenses incurred by the Fiscal Agent in connection with any such exchange shall be paid by the School District from amounts in the Community Facilities Fund.
Subject to applicable bond covenants, money in that fund when not needed for use may be invested in any investment permitted by law and by the funding agency requirements of the Lead City, and earnings from these investments shall be deposited in the Regional Facilities Fund.