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<br />consultant; <br /> <br />(i) the self-insurance program shall be approved by an independent insurance <br /> <br />(ii) the self-insurance program shall include a sound claims reserve fund out <br />of which each self-insured claim shall be paid: the adequacy of each such fund shall be evaluated <br />on an annual basis by an independent insurance consultant; and any deficiencies in any self- <br />insurance claims fund shall be remedied in accordance with the recommendation of an <br />independent insurance consultant; <br /> <br />City; <br /> <br />(iii) the self-insurance claims fund shalI be held in an separate fund by the <br /> <br />(iv) in the event the self-insurance program shalI be discontinued. the <br />soundness of its claim reserve fund. as determined by an independent insurance consultant. shalI <br />be maintained, <br /> <br />In the event of any damage to or destruction of the Enterprise caused by the perils covered <br />by such insurance. the proceeds of such. insurance shall be applied to the repair. reconstruction or <br />replacement of the damaged or destroyed portion of the Enterprise, The City shall cause such <br />repair. reconstruction or replacement to begin promptly after such damage or destruction shall <br />occur and to continue and to be properly completed as expeditiously as possible. and shall pay <br />out of the proceeds of such insurance all costs and expenses in connection with such repair. <br />reconstruction or replacement so that the same shalI be completed and the Enterprise shall be free <br />and clear of alIliens and claims. If the proceeds received by reason of any such loss shalI exceed <br />the costs of such repair. reconstruction or replacement. the excess shall be applied to the <br />redemption of Bonds as provided in Section 4,OI(a). <br /> <br />Alternatively. if the proceeds of such insurance are sufficient to enable the City to retire <br />all outstanding Bonds and Parity Bonds and all other arnounts due hereunder and under under any <br />Contracts. the City may elect not to repair. reconstruct or replace the damaged or destroyed <br />portion of the Enterprise. and thereupon such proceeds shall be applied to the redemption of <br />Bonds as provided in Section 4.01 (a) and to the payment of alI other amounts due hereunder. and <br />as otherwise required by the docurnents pursuant to which such Bonds. Contracts and Parity <br />Bonds were issued or incurred. <br /> <br />AlI policies of insurance required to be maintained herein shall provide that the Trustee <br />shall be given thirty (30) days' wTitten notice of any intended cancelIation thereof or reduction of <br />coverage provided thereby. provided. however. the Trustee shall not be responsible for the <br />sufficiency of any insurance herein required. <br /> <br />Section 5,14. Books and Accounts: Financial Statements. The City shall keep proper <br />books of record and accounts of the Enterprise. separate from all other records and accounts. in <br />which complete and correct entries shall be made of all transactions relating to the Enterprise. <br />Said books shall. upon prior request. be subject to the inspection of the Trustee (who shall have <br />no duty to inspect) or the Owners of not less than ten percent (10%) of the Outstanding Bonds. or <br /> <br />Pleasanton Cross Tovm Indenture (2).DOC <br /> <br />-30- <br />