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(1) Uniform Charges less Operating <br />Expenses sufficient to pay (a) one hundred <br />percent (1008) of all required deposits <br />into the Reserve Account, and (b) one <br />hundred twenty percent (1208) of the amount <br />of principal and interest becoming due in <br />such Fiscal Year on the Bonds outstanding; <br />or <br />(2) when the Revenues include <br />receipts and revenues in addition to <br />Uniform Charges, Net Revenues in each <br />Fiscal Year sufficient to pay (a) one <br />hundred percent (1008) of all required <br />deposits into the Reserve Account, and (b) <br />one hundred twenty percent (1208) of the <br />amount of principal and interest becoming <br />due in such Fiscal Year on the Bonds <br />outstanding; provided, however, that <br />Uniform Charges less Operating Expenses are <br />sufficient to pay (a) one hundred percent <br />(1008) of all required deposits into the <br />Reserve Account, and (b) one hundred <br />percent (1008) of the amount of principal <br />and interest becoming due in such Fiscal <br />Year on the Bonds outstanding. <br />For purposes of this subsection, Senior Lien Bonds Debt Service, Senior Lien <br />Bonds Reserve Account Payments and, to the extent made from Revenues, Required <br />Renewal Fund Payments shall be treated as Operating Expenses. In addition, any <br />amounts owed by the County to the issuer of a Reserve Account Credit Instrument <br />(hereinafter defined) as a result of a draw thereon, as appropriate, shall be <br />added to the principal and interest payable on the Bonds to determine compliance <br />with this rate covenant. <br />"F. BOOKS AND RECORDS. The County shall keep proper books, <br />records and accounts, showing correct and complete entries of all transactions <br />of the County relating to the System. Registered Owners of the Bonds shall have <br />the right at all reasonable times to inspect all books, records and accounts of <br />the County relating to the System. <br />"G. ANNUAL AUDIT. The County shall also, at least once a year, <br />within 180 days after the close of its Fiscal Year, cause the books, records and <br />accounts relating to the System to be audited by a independent firm of certified <br />public accountants. A copy of such annual audits shall be furnished to any <br />- 27 - <br />