O-1979-768-B - Laserfiche WebLink

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I I I . e e essential to the operation of the System, but will operate and maintain the same in an efficient manner until all of the Bonds are paid. section 11. In addition to the right to issue bonds of inferior liens, the District expressly reserves the right to issue in one or more installments for the purpose of completing, repairing, improving, extending, enlarging or replacing the System all such combination unlimited tax and revenue bonds as may hereafter be authorized at subsequent elections. Such bonds may be payable from and equally secured by a pledge of and lien on the Net Revenues to the same extent as pledged for and in all things on a parity with the lien thereon securing the Bonds, the Outstanding Bonds, and any previously issued Additional Bonds. Section 12. The District further covenants and agrees that, in event of default in the payment of principal of or interest on any of the Bonds when due, or failure to make the payments required into the Bond Fund and Reserve Account or defaults in the observance or performance of any of the covenants, conditions or obligations set forth in this Order, tne holder or holders of any of the Bonds in addition to all the rights and remedies provided by the laws of the State of Texas, shall be entitled to apply for a writ of mandamus to a court of proper jurisdiction for the pur- pose of compelling and requiring the District and the offi- cials thereof to observe and perform any covenants, obliga- tions or conditions prescribed in this Order. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver of any such default or acquiescense therein, and every such right and power may be exercised from time to time as often as may be deemed expedient. The specific remedies provided herein shall be cumulative of all other existing remedies, and the specification of such remedies shall not be deemed to be exclusive. -13-