FISCAL FUNDING definition
FISCAL FUNDING. The Grantor’s obligations hereunder shall cease immediately, without penalty or further payment being required, in any year for which the General Assembly of the State of Illinois fails to make an appropriation sufficient to pay such obligation or the U.S. Department of Homeland Security, Federal Emergency Management Agency, Grants Programs Directorate (DHS FEMA GPD) fails to provide the funds. The Grantor shall give Grantee notice of such termination for funding as soon as practicable after Grantor becomes aware of the failure of funding. ▇▇▇▇▇▇▇’s obligation to perform work shall cease upon notice by Grantor of lack of appropriated funds.
FISCAL FUNDING. IEMA’s obligations hereunder shall cease immediately, without penalty or further payment being required, in any year for which USDOT fails to provide the funds, or the Illinois General Assembly fails to make an obligation sufficient to pay such obligation. IEMA shall give the Grantee notice of such termination for funding as soon as practicable after IEMA becomes aware of the failure of funding. The Grantee’s obligation to perform work shall cease upon notice by IEMA of lack of appropriated funds.