O-1988-1595 - Laserfiche WebLink

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e e an independent engineer which concludes that (i) the plan for developing the separate system project or facilities is consistent with sound planning and the separate system project or facilities would not materially and adversely interfere with the operation of the Transrnission System, the Distribution System and the Authority's interest in the Southeast Plant, and (ii) the separate system project or fa- cilities can be economically and efficiently operated and maintained. 8.06. Indebtedness Not Payable from Revenues. The Authority reserves the right to authorize and issue bonds, notes, certificates, warrants or other evidences of indebtedness for any corporate use or purpose if such bonds, notes, certificates, warrants or other evidences of indebted- ness are not secured by or payable from Revenues, Net Revenues or any revenues or funds pledged to the payment of the Bonds and are not secured by the Transrnission System, the Distribution System or the Authority's interest in the Southeast Plant, but rather frorn some other source of funds available to the Authority. Section 9. REPRESENTATIONS AND COVENANTS OF THE AUTHORITY 9.01. Maintenance and Insurance. While any of the Bonds or any Additional Bonds are outstanding, the Authority covenants and agrees to maintain the Transrnission System and the Distribution System in good condition and operate the sarne in an efficient manner and at a reasonable cost. So long as any of the Bonds or any Additional Bonds are outstanding, the Authority agrees to maintain insurance on the Transmission System and the Distribution Systern, of a kind and in an amount which usually would be carried by private companies engaged in a similar type of business in the same area. This Resolution shall not be construed as requiring the Authority to expend any funds which are derived from sources other than Revenues, but nothing herein shall be construed as preventing the Authority from doing so. 9.02. Books and Records. The Authority shall keep proper books of records and accounts, separate from all other records and accounts, in which cornplete and correct entries shall be made of all transactions relating to the Revenues, the Authority's undivided interest in the Southeast Plant, the Transmission System and the Distribution System. Upon written request made not more than 90 days following the close of the fiscal year, the Authority shall furnish to 022DESAO/024C04 -28-