MAD Formation Fund definition

MAD Formation Fund means the Formation Fund initially containing $150,000 as established by the City Council through Ordinance No. O-19083 on July 30, 2002, to assist eligible Developed Communities seeking to form a MAD and which must be re- paid through the first year’s assessment collected from property owners in the MAD as explained further in this policy.
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MAD Formation Fund means the Formation Fund initially containing $150,000 as established by the City Council through Ordinance No. O-19083 on July 30, 2002, to assist eligible Developed Communities seeking to form a MAD for the purposeof providing Special Benefit and which must be re-paid through the first year’s assessmentassessments collected fromproperty owners in the MAD as explained further in this policy.
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Examples of MAD Formation Fund in a sentence

  • In order to permit equal MAD formation opportunities throughout the City, only one MAD per Council District will be considered per fund for use of City MAD Formation Fund monies in any one year, unless there are no other eligible proposals in other Council Districts.

  • Replenishment of FundsIn the event that the total amount of money available for MAD formation in the MAD Formation Fund is less than $250,000 then the City shall include with the next fiscal year City Budget additional funding to increase the City Funds to a minimum of $250,000 and authorization in the annual Appropriations Ordinance to expend the funding pursuant to this Council Policy.

  • In the event that the total amount of money available for MAD formation in the MAD Formation Fund is less than $250,000 then the City shall include with the next fiscal year City Budget additional funding to increase the City Funds to a minimum of $250,000 and authorization in the annual Appropriations Ordinance to expend the funding pursuant to this Council Policy.

  • By Community:If the community is already developed when the MAD is proposed to be formed, District Formation costs are either funded by the City’s MAD Formation Fund or by some of the benefitting property owners, usually with the provision that if the ballot passes, the front-money is returned to the originator from the first year's assessments.

  • In order to permit equal MAD formation opportunities throughout the City, only one MAD per Council District will be considered for use of MAD Formation Fund monies in any one year, unless there are no other eligible proposals in other Council Districts.

  • It is on these topics, particularly with regard to formation and remedies for non-performance, that there is a substantial thematic overlap with the CISG (see para.

  • The amount of up-front funding needed from the MAD Formation Fund to pay for the Assessment Engineer’s Report and other incidental costs has been determined, and does not exceed $50,000.

  • Aside from the MAD Formation Fund, there are not sufficient funds available for the City’s General Fund to finance MAD formations.

  • I understand that any MAD Formation Fund monies advanced by the City as a result of this petition (estimated at between $30,000 and $50,000) must be repaid in full through assessments collected from property owners within the district during the first year following successful district formation or until such time as all funds are repaid.

Related to MAD Formation Fund

  • Acquisition Fund means any company formed with the intent to offer securities to the public and use the proceeds to consummate one or more Business Combinations which are unspecified at the time of the securities offering.

  • the Skipton Fund means the ex-gratia payment scheme administered by the Skipton Fund Limited, incorporated on 25th March 2004, for the benefit of certain persons suffering from hepatitis C and other persons eligible for payment in accordance with the scheme’s provisions;

  • Non-Fund means any corporation, business trust, partnership, trust or other entity which is not an Investment Company.

  • Levy reduction funds means increases in state funds from

  • State funds means any funds appropriated by the North Carolina General Assembly or collected by the State of North Carolina. State funds include federal financial assistance received by the State and transferred or disbursed to non-State entities. Both Federal and State funds maintain their identity as they are disbursed as financial assistance to other organizations.

  • Administration Fund means the Administration Fund established by the Fiscal Agent pursuant to Section 4.01 hereof.

  • Construction Fund means an account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct public facilities eligible under the Act.

  • State Fund means a component of the Settlement Fund described in subsection VIII.D.

  • Project Fund means the fund required to be established by this Resolution for the deposit of the proceeds of the Bonds.

  • the Macfarlane (Special Payments) Trust means the trust of that name, established on 29th January 1990 partly out of funds provided by the Secretary of State, for the benefit of certain persons suffering from haemophilia;

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Compensation Fund means the fund maintained by the Society pur- suant to Sections 21 and 22 (as substituted, respectively, by Sections 29 and 30 of the Act of 1994) of the Act of 1960;

  • Redemption Fund means the fund by that name established pursuant to Section 5.04.

  • Superannuation Fund means the Local Government Superannuation Scheme.

  • Bond Purchase Fund means the Fund so designated, which is created and established by a Series Indenture.

  • Virginia venture capital account means an investment fund that has been certified by the

  • Contract Funds means the funds that have been appropriated, designated, encumbered, or otherwise made available for payment by the State under this Contract.

  • Individual development account means a contract between an account holder and a fiduciary organization, for the deposit of funds into a financial institution by the account holder, and the deposit of matching funds into the financial institution by the fiduciary organization, to allow the account holder to accumulate assets for use toward achieving a specific purpose approved by the fiduciary organization.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Project Funds means all moneys disbursed to the Recipient by the State Water Board for eligible Project Costs pursuant to this Agreement.

  • Project Funding Agreement means an agreement in the form of Schedule F that incorporates the terms of this Agreement and enables the LHIN to provide one-time or short term funding for a specific project or service that is not already described in Schedule A;

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).