1987-144 - Laserfiche WebLink

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• of and tr, he rtue in si:r:tt years ars ni•:ail Bea ciet.ertained by resolution of 01•1 Bnatd prior. to ttte rls+l.l4'Qry „)£ th* Term Bonds. (2) To the Operati„n and .K,i.ntenance Fund. the amounts recut l r ed to pay Operating Frpenaes put nt.,ant to the Annual Budget. Any hAlance remaining in th- peratlaR, and Maintenance Fund at tl,n An-! or e:,rh Fiscal Year :ihsill be deposited promptly into the Po. lnn'lp Furl 1. (t} -T, the Renewal and Replacement fund. amounts r:ecessat y t. pay ti,- cost of extensions, enlargements or additinr.- t, or t.h+a replacement of rapitai assets of the System. a n(i f n r -,-:rjo►nc y repa l r o thereto. r eapcee t Pees on deposit in the k..r,rwa i .in i Replacement F"nd shell only be used to pay those additional costs necessit.ntad by the inclusion of new customers to the system. The balance of moneys r-etaining in the Revenue Fund after the to.quired paymants have ween made shall be transferred to the deserve Account in the Sinxinq fund until that amount equais the vlaxlmum Bond Service Requirement and thereafter the County may use surplus funds in the Revenue Fund for the purchase or redemption of Bonds or for any other lawful purpose. Rot:pe,gpq Cbasyes. The County must fix. establish and revise the schedule of rates. fees. rentals and charges for the services and facilities of the System which will produce revenues sufficient to provide 100% of the current Bond $ervlce Requirement and all other payments required by the Original Resolution, The Original Resolution requires the County to prepare an -At imate of Cross Revenues for the ensuing Fiscal Year and. to the extant that eatimatad Gross Revenues are insufficient to pay 100% of the Bond Service Requirement during the ensuing fiscal Year. build up and mairttairt the required reserves for the Bonds. pay or -rotting F.xpenees. ani pay the current requital deposit intri tt,a periPvoti and Rep•da«•ement Fun t. the County ua! G revise rtttch r A an,°i rat-, -harqed to proviMia the fund* rrrlrir�rl. Issuance of ttttsar obligations. The County May "')T - Issue .stly ()the?- oblifx.at.iortiR payable from or secured by the dross. Revewlvr ,, :)r rzny pae t, thetrPof, unless the lien of such obl iriation ir. itttiior mild subordinate in all respects to the lien of the holders or the Bonds or the conditions provided in t -1,e ()riyinal Resolution <are met. These conditions require that all facilities to be acquired from t:he proceeds of the additional parity Bond be made a part of the system and that their revenues be included in Cross Revenuer; and that the County be in compliance with all the covenants contained in the original Resolution and all covenant:i made with respect to any other bonds or other obligations of the County payable from Gross Revenues or any part thereof; and that the County has not been in default as to any 21