INTERGOVERNMENTAL TRANSFER Clause Samples
The Intergovernmental Transfer clause defines the process by which funds or resources are transferred between different government entities, such as federal, state, or local agencies. Typically, this clause outlines the conditions, procedures, and documentation required for such transfers, ensuring that all parties comply with relevant laws and regulations. For example, it may specify how grant money is passed from a federal agency to a state department for a specific project. The core function of this clause is to facilitate the lawful and efficient movement of resources between government bodies, thereby supporting coordinated public programs and preventing misuse or misallocation of funds.
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INTERGOVERNMENTAL TRANSFER. 2.01 Local Government will transfer to the Department on a quarterly basis an amount equal to 50% of the total Interim Rates, as described in Article III, received by Provider from the Department and its agents for the prior quarter.
2.02 The Department will send a Quarterly Invoice to Local Government for the transfer of 50% of the supplemental paymentsdescribed in Article III and transfer shall be made within 30 days after the receipt of the Quarterly Invoice by the Local Government.
INTERGOVERNMENTAL TRANSFER. County shall annually make an intergovernmental transfer (IGT) of $50,000,000 for the benefit of the Hospital. The County shall transfer twenty five percent of the total annual IGT by September 15, December 15, March 15, and June 15 to the State and provide confirmation to a third party paying agent that the payment has been made. If the third party paying agent has not received confirmation that the required payment was made within 15 days of the date that the transfer was due, it shall send written inquiry to the County (“Inquiry Letter”). To assure that the IGT occurs, the County shall, for a six year period beginning 30 days before Hospital is scheduled to open, have in place Letter(s) of Credit, which at the outset shall be in the amount of $100,000,000. Such Letter(s) of Credit shall provide that, in the event that the County has not transferred to the State the full amount of any quarterly payment, the financial institution will, on behalf of the County, transfer to the State the amount of any unpaid IGT for the particular quarter. The paying agent will initiate this draw under the Letter(s) of Credit unless it receives written confirmation – within 15 days of issuing the Inquiry Letter – that the County has made the scheduled transfer in its entirety. During the fifth year after the hospital has opened, the parties shall meet and confer, in good faith, on whether the Letter(s) of Credit should be maintained for an additional period of time. Any such extension of the County's obligation to maintain Letter(s) of Credit shall be memorialized in a formal amendment to the Coordination Agreement.
INTERGOVERNMENTAL TRANSFER. 2.01 Provider will transfer on a periodic basis to the Department an amount equal to 50% of the total enhanced rates paid to Provider by the Department and all MCOs for the period.
2.02 For FFS payments, the Department will send a monthly invoice to Provider for the higher FFS payments described in Article III.
2.03 For MCO payments, the transfer of 50% of the supplemental payment described in Article III shall be made within 14 days after the receipt of enhanced payments from the MCO.