HomeMy WebLinkAbout2608 and in the Resolutiot~ has ~o~tnant~d, at all times, to fix,
establish and maintain sufficient rates and collect such fees
or other charqes for the services of the system and revise
the same fror.i time to time, whenever necessary, as will always
provide net revenues in each fiscal year sufficient to pro-
vide one hundred per centum (1003'~) of all reserve or other
requirements, plus one hundred twenty-five per centum (125~0)
of the amount of principal, mandatory amortization installments
and interest becoming due in such fiscal year upon all Outstand-
ing Obligatio:is, <~s def ~ned in tne Resolution, the obligatio:~s
and aciaitionai p~*_-it~~ o'_;? i.yations and any other obligations
intende3 to -~i~: `ro:,~ ::'.:~-h :.et revenues, after e-xcluding
irom sucii ,:.?-i:~-~;_~:i?, ;~a::~?a;_o~-1~ .raorti~~ation installments and
intezf~~t rccl~_iir~~:.;~~:;L~, _;~=~::::^r.:.=~ to ac derived ror that purpose
iro::~ other sou~ce~; and _._=:t 7~:c^ raLes, rentals, fees or other
charges shall not be reduced so as to be insufficient to pro-
vide revenues for such purpose. Sucii Lovenant is legal and
val~d in all res:~ect~.
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E 9. Tne plain~ifs has fur~.ller covenanted and agreed
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~ to cause the Citj% to levy ar:d collect such utilities services
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~ tax~s at such rates, n~t excecc?ing the raaxim~am rates ~errnitted
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i,y law, to the extcnt necessar~~ to pay, and out ot such funds
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~ srall pay as the ~a::c s~~all beco~e due tne princi~~al of and
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~ i:1t('I"~S~ o:: the obli~ations and all re~erve, S1i1K1:1~J fund, or -
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~ othcr j~a~~::~ents provi~.~'c~d ~or iiz t'rie Resolution ar.d tnat the rates
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o` ~~~ic:: u~ ilities serv:c~:: taxes snall not ~r~e reduced so as
. t0 1~E'- 1?7~1:'_-i1~1C'ilt t0 '•"~L"•'~Vl~..ii? iL2T1CiS fOr 511~_i? ~~'.lY'~O~~S. SUCil
~3 covenazt is lc~~al anci vaZid in all respects. ~
i0. The obli~atior.s are of ti:e character and the
~~roc~:ed~ngs nreli.ninary to t:~e istiuance t;:ercof arc or t:~,e
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nature as entitle tn? pla~nti£f to nro~eed ~•~ithin thc provisions
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