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1980-063
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1980-063
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Last modified
2/28/2023 10:51:54 AM
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2/28/2023 10:51:16 AM
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Resolutions
Resolution Number
1980-063
Approved Date
06/25/1980
Subject
Authorizing issuance of $5,825,900 Water Revenue Bonds for facilities for South County Water System
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0 <br />1:® <br />(K) Maintenance of Svstem. The Issuer will complete <br />® the acduisi.r.i.on and consr_ructi.on of the Project in an economical <br />and efficient manner with all practicable dispatch, and <br />thereafter will maintain the System in good condition and con- <br />tinuously operate the same in an efficient manner at a reasonable <br />i W cost. <br />(L) No Free Services. The Issuer will not render or <br />cause to be rendered any tree services of any nature by its <br />System, nor will any preferential rates be established for users <br />Of the same class; and if the Issuer shall avail itself of the <br />facilities or services provided by the System, or any part <br />thereof, then the same rates, fees or charges applicable to other <br />customers receiving like service under similar circumstances <br />shall be charged to the Issuer. Such charges shall be oai.d as <br />they accrue, and the Issuer shall transfer from its general funds <br />sufficient sums to pay such charges. The revenues so received <br />shall be deemed to be revenues derived from the operation of the <br />System, and shall be deposited and accounted for in the same_ <br />manner as ocher revenues derived from such operation of the <br />System. <br />(M) Failure of User to T'c.�•� for Servi.crS. Upon failure <br />of any user oL any product, servi.ees or facilities of the System <br />to pay for the same within sixty (60) days after the Issuer shall <br />have billed such user therefor, the lssuer shall shut off the <br />connection of such user and shall not furnish him or permit him <br />to receive from t_he System further service until all obligations <br />owed by him to the Issuer on account of services, including <br />disconnection and reconneL'_i.on charges, shall have been paid in <br />full. This covenant shall not, however, prevent-_ the Issuer from <br />causing any System connection to be shut: off sooner. <br />(N) Enforcement_ of Collections. The Issuer will dili- <br />gently enforce and collect the rages-, fees, rentals and other <br />charges for the services and facilities of the System; and will <br />take all steps, actions and proceedings for the enforcement and <br />collection of such rates, fees, rentals and other charges as <br />shall become delinquent_ to t_he full extent permitted or <br />authorized by law; and will maintain accurate records with <br />respect thereto. All such fees, rates, rentals, charges and <br />revenues herein pledged shall, as collected, be held in trust to <br />be applied as provided in this Instrument and not otherwise. <br />(0) ComEli.ance with Laws and Regulations. The Issuer <br />covenants and agrees to perLoriit and comply with, in every <br />respect, the loan and grant agreements which it might have with <br />the Government_ or with any other governmental agency, and all <br />applicable federal and state laws and regulations. <br />-28- <br />
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