RES 67055 - Laserfiche WebLink

37 accordance with such engineer's report. Payments for such construction shall be made by the Director of Finance from such proceeds, which shall be depds- ited by the Fiscal Agent with the Director of Finance for such purpose. Any balance of such proceeds not required by the City for the purposes aforesaid shall be deposited by the Fiscal Agent in the Revenue Fund and applied only as provided in Section 4.03. (3) If such eminent domain proceedings have had no effect, or at the most a relatively immaterial effect, upon the Revenues and the security of the Bonds, and a qualified independent engineer so concludes in a certificate filed with the Fiscal Agent, the Fiscal Agent may so determine. Such deter- mination by the Fiscal Agent shall be final and conclusive, and, upon notice thereof, the Fiscal Agent shall forthwith deposit such proceeds in the Rev- enue Fund, to be applied only as provided in Section 4.03. SECTIOI~ 5.14. Amounts O] Rates and Charges. (a) The City will, at all times while any of the Bonds remain outstanding, fix, prescribe and collect rates, fees and charges in connection with the water, services and facilities furnished by the Enterprise so as to yield Revenues at least sufficient, after making reasonable allowances for contingencies and error in the estimates, to pay the following amounts in the order below set forth: (1) The interest on and principal of and payments into Sinking Fund Accounts for the Bonds as they become due and payable. (2) All payments required for compliance with the terms of this'-Reso- lntion and of any Supplemental Resolution providing for the issuance of Addi- tional Bonds pursuant to Article III. (3) All payments to meet any other obligations of the City which are charges, liens or encumbrances upon, or payabl~ from, the Rcyenucs. (4) All current expenses of maintenance and operation of the Enter- prise. (b) In addition to the requirements of the foregoing subsection (a), the City will, at all times while any of the Bonds remain outstanding, fix, prescribe and collect rates, fees and charges in connection with the watet,'-3vrvices and facilities furnished by the Enterprise so as to yield Net Revenues during the then immediately ensuing period of twelve months equal to at least 1.30 times annual debt service. The City may make adjustments from time to time in such rates, fees and charges and may make such classification thereof as it deems necessary, but shall not reduce such rates, fees and charges below those then in effect unless the Revenues from such reduced rates will at all times be sufficient to meet the requirements of this Section 5.14. SECTIOI,~ 5.15. Further Assurances. The City will adopt, make, execute and deliver any and all such further resolutions, instruments and assurances as may