Approval of Projects. Projects that do not involve bond financing shall be funded through Surtax proceeds only if approved by the Oversight Board. Projects that involve bond financing secured in whole or in part by ▇▇▇▇▇▇ proceeds shall be funded through Surtax proceeds only if the conditions stated in Section VI (B) are met. A. Projects that do not involve Bond Financing. All applications for projects funded by Surtax proceeds that do not involve bond financing shall be submitted to the Oversight Board, which shall determine: 1. Whether the project, as described in the project application, is permissible under Section 212.055(1)(d)(4), Florida Statutes; and 2. Whether the applicant has submitted all required external audits pursuant to Section VIII (C) below and, if it has, whether such audits demonstrate that the applicant, at the time of application, is in compliance with the requirements of this Agreement.
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Approval of Projects. Projects that do not involve bond financing shall be funded through Surtax proceeds only if approved by the Oversight Board. Projects that involve bond financing secured in whole or in part by ▇▇▇▇▇▇ Surtax proceeds shall be funded through Surtax proceeds only if the conditions stated in Section VI (B) are met.
A. Projects that do not involve Bond Financing. All Municipal and County applications for projects funded by Surtax proceeds that do not involve bond financing shall be submitted to the Oversight Board, which shall determine:
1. Whether the project, as described in the project application, is permissible under Section 212.055(1)(d)(4), Florida Statutes; and
2. Whether the applicant has submitted all required external audits pursuant to Section VIII (C) below (this condition shall not be applicable until after the first external audit is required to be submitted) and, if it has, whether such audits demonstrate that the applicant, at the time of application, is in compliance with the requirements of this Agreement.
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