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1989-046
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1989-046
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Last modified
6/25/2021 1:40:10 PM
Creation date
2/4/2021 9:58:00 AM
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Resolutions
Resolution Number
1989-046
Approved Date
05/02/1989
Subject
Amend & restate Resolution 89-19 - providing for issuance of $7,500,000 water & sewer revenue
refunding bonds, Series 1989
Document Relationships
1989-019
(Agenda)
Path:
\Resolutions\1980'S\1989
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"K. ENFORCEMENT OF COLLECTIONS. The County will diligently <br />enforce and collect the Revenues and any other receipts and revenues pledged <br />hereunder, will take all steps, actions and proceedings for the enforcement and <br />collection thereof as the same shall become delinquent to the full extent <br />permitted or authorized by law; and will maintain accurate records with respect <br />thereto. All such Revenues and other charges shall, as collected, be held in <br />trust to be applied as herein provided and not otherwise. <br />"L. REMEDIES. Any Registered Owner may by suit, action, mandamus <br />or other proceedings in any court of competent jurisdiction, protect and enforce <br />any and all rights, including the right to the appointment of a receiver, <br />existing under the laws of the State of Florida, and may enforce and compel the <br />performance of all duties required hereunder or by any applicable statutes to <br />be performed by the County or by any officer thereof. <br />"Nothing herein, however, shall be construed to grant to any <br />Registered Owner any lien on any property of or in the County. <br />"M. OPERATING BUDGET. On or before the last day of each Fiscal <br />Year, the County shall adopt an annual budget for the System for the ensuing <br />Fiscal Year, which shall include a budget for Operating Expenses. The Operating <br />Expenses incurred in any Fiscal Year will not exceed the reasonable and <br />necessary amounts required therefor and the County will not expend any amount <br />or incur any obligation for the operation, maintenance and repair of the System <br />in excess of the amount provided for the purpose in the annual budget for the <br />then current Fiscal Year except upon resolution of the Board declaring that such <br />expenses are necessary for the operation and maintenance of the System. <br />"If the budget discloses that the estimated Revenues and other <br />revenues, funds and receipts pledged hereunder, if any, will be insufficient <br />during such Fiscal Year, after payment of the Operating Expenses, to meet the <br />rate covenant set forth herein, the County shall forthwith revise the rates, <br />fees and charges imposed with respect to the System in order to cure such <br />estimated deficiency and to comply with the rate covenant. There shall be <br />included in the budget amounts necessary to provide for the orderly replacement <br />of the depreciable capital assets of the System. <br />"N. CONSULTING ENGINEERS. The County will annually retain the <br />Consulting Engineers for the purpose of providing the County with competent <br />engineering counsel with respect to the economical and efficient operation of <br />the entire water and sewer system of the County and in connection with the <br />making of capital improvements thereto and renewals and replacements thereof. <br />The County may, however, employ additional engineers at any time with relation <br />to specific engineering and operation problems arising in connection therewith. <br />- 29 - <br />
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