Examples of Participating Local Government Unit in a sentence
The Board shall not require a Participating Local Government Unit to enter into an agreement with the Board.
At the written request of the Participating Local Government Unit, the Board, in its complete discretion, may defer consideration of a Subsidy for a Pre-existing Project to a subsequent calendar year.
The Board shall not award a Subsidy for a Pre-Existing Project unless (a) there are still amounts outstanding with respect to Pre-existing Debt at the time the Board considers making a commitment to grant a Subsidy; and(b) the obligor on such Pre-existing Debt is a Participating Local Government Unit.
By accepting a Subsidy payment, the Participating Local Government Unit agrees that the terms of the Subsidy are governed by these regulations, as they may be amended from time to time, for the entire duration of the Trust loan.
The Board, through the Cape Cod Commission, shall notify Participating Local Government Units with Pre- existing Projects of their eligibility for a Subsidy at the same time and in the same manner as set forth in Section 4.2, and the Participating Local Government Unit likewise shall send a Withdrawal Notice within the time required by Section 4.2 if it does not wish to be considered for a Subsidy.
For eligible towns or cities that become Participating Local Government Units after such meeting, the Board shall consider Subsidies for the applicable Pre-existing Projects in the first calendar year after such eligible Local Government Unit becomes a Participating Local Government Unit.
Final approval shall be granted by the Board based upon the project cost as appearing in the final Project Regulatory Agreement entered into by the Trust and the Participating Local Government Unit.
The Board will suspend or discontinue a Subsidy if the Participating Local Government Unit has breached any of the conditions of the Project Regulatory Agreement or Loan Agreement in a manner that causes the Trust to call back the loan, suspend the Participating Local Government Unit’s ability to draw down the loan funds, or require that the Participating Local Government Unit repay any loan funds previously provided.
The Board shall compel a Participating Local Government Unit to pay back any Subsidy already provided.
The Board will not compel a Participating Local Government Unit to pay back any Subsidy already provided.