RES 94044 - Laserfiche WebLink

repository for examination and copying by any owner at such Owner's expense during business hours on Business Days. Section 5.12. Protection of Security and Rights of Authority; Amendment. The City will preserve and protect the security and the rights of the Authority to the Installment Payments and the interest thereon hereunder and will warrant and defend such rights against all claims and demands of all persons. In connection therewith, the Authority and the City shall not amend this Installment Purchase Contract without first obtaining (i) the prior written consent of the Trustee, which consent shall not be unreasonably withheld, and (ii) an opinion of nationally recognized bond counsel to the effect that such amendment will not materially adversely affect the security of the Owners. Section 5.13. Payment of Taxes and Compliance with Governmental Regulations. The City will pay and di. scharge all taxes, assessments and other governmental charges, if any, which may hereafter be lawfully imposed upon the Enterprise or any part thereof or upon the Revenues when the same shall become due. The City will duly observe and conform with all vali. d regulations and requirements of any governmental authority relative to the operation of the Enterprise or any part thereof, but the City shall not be required to comply with any regulations or requirements so long as the validity or application thereof shall be contested in good faith. Section 5.14. Amount of Rates and Charges. The City will at all times fix, prescribe and collect rates, fees and charges for the Water Service which are reasonably fair and nondiscriminatory and which will be at least sufficient to yield Net Revenues during the next succeeding twelve-month period equal to one hundred twenty-five percent (125%) of the Debt Service for such twelve-month period and which will be at least sufficient to meet all the City's obligations hereunder. 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 the rates, fees and charges then in effect unless the Net Revenues from such reduced rates, fees and charges will be all times be sufficient to meet the requirements of this section. Section 5.15. Collection of Rates and Charges~ The City will have in effect at all times rules and regulations requiring all users of the Water Service provided by the City that is provided or made available to pay the rates, fees and charges applicable to the Water Service provided or made available to such users, and providing for the billing thereof and for a due date and a delinquency date for each bill. In each case where such bill remains unpaid in whole or in part after such bill becomes delinquent, the City may refuse to provide or make available Water Service to such premises until all delinquent rates, fees and charges and penalties have been paid in full. 16 9406701W.LA I