Laserfiche WebLink
When each phase of the project has been substantially com- <br />pleted and placed in operation and use, the Consulting Engineers <br />shall certify such fact to the .Issuer and the same shall be deemed <br />to be the completion date of each phase of the project. <br />The Consulting Mngineers shall also prepare a monthly progress <br />report showing the status of the construction and acquisition of the <br />project, the construction contracts entered into therefor, an esti- <br />mated time schedule for completion, the percentage of completion <br />thereof, the availability of funds for completion of the project and <br />any other matters deemed advisable by such Consulting Engineers. <br />Copies of such progress reports shall be mailed to the original <br />purchaser of the Obligations. <br />P. NO COMPETING FACILITIES. To the full extent permitted <br />by law, the Issuer will not grant, renew or cause, consent to, or <br />allow the granting, renewal, extension or expansion of any franchise <br />or permit to any person, firm, corporation or body, or agency or <br />instrumentality whatsoever, for the furnishing of services similar <br />to those of the Facilities to or within the boundaries of the Issuer. <br />Q. ISSUANCE OF OTHER OBLIGATIONS. (1) The Issuer will <br />not issue any other obligations payable from Revenue Sharing Trust <br />Funds (as herein defined) received each year nor voluntarily create <br />any lien having priority to to being on a parity with the lien of <br />the Obligations and the interest thereon upon the Revenue Sharing <br />Trust Funds. Any other obligations issued by the Issuer in addition <br />to the Obligations herein authorized, payable from such Revenue Shar- <br />ing Trust Funds, shall contain*an express statement that such Obliga- <br />tions are junior and subordinate in all respects to the Obligations <br />herein authorized as to lien on and source and security for payment <br />from such Revenue Sharing Trust Funds. <br />(2) Further, the Issuer will not issue any other obliga- <br />tions, except under the conditions and in the manner provided herein, <br />payable from the Revenues of the Facilities, nor..voluntarily create <br />or cause to be created any debt,,lien, pledge, assignment, encumbrance <br />or other charge.having priority to or being on a parity with the <br />lien of the Obligations.and the interest thereon, upon said Revenues. <br />-27- <br />�1 <br />