|
Exhibit B
<br /> Consent Conditions
<br /> (a) To the extent authorized by law, the District will issue bonds only for the
<br /> purpose of purchasing and constructing, or purchasing, or constructing under
<br /> contract with the City of La Porte, or otherwise acquiring waterworks systems,
<br /> sanitary sewer systems, storm sewer systems, drainage facilities, recreational
<br /> facilities, road facilities, or parts of such systems or facilities,and to make any and all
<br /> necessary purchases, construction, improvements, extensions, additions, and repairs
<br /> thereto, and to purchase or acquire all necessary land, right-of-way, easements,
<br /> sites, equipment, buildings, plants, structures,and facilities therefor,and to operate
<br /> and maintain drainage facilities and recreational facilities, and for refunding such
<br /> bonds. Such bonds will expressly provide that the District reserves the right to
<br /> redeem the bonds on any interest- payment date subsequent to the fifteenth (15th)
<br /> anniversary of the date of issuance without premium and will be sold only after the
<br /> taking of public bids therefor, and none of such bonds, other than refunding bonds,
<br /> will be sold for less than 95% of par; provided that the net effective interest rate on
<br /> bonds so sold, taking into account any discount or premium as well as the interest
<br /> rate borne by such bonds,will not exceed two percent(2%) above the highest average
<br /> interest rate reported by the Daily Bond Buyer in its weekly "20 Bond Index" during
<br /> the one-month period next preceding the date notice of the sale of such bonds is given,
<br /> and that bids for the bonds will be received not more than forty-five (45) days after
<br /> notice of sale of the bonds is given. No land located within the city limits or
<br /> extraterritorial jurisdiction of the City of La Porte will be added or annexed to the
<br /> District until the City of La Porte has given its written consent by resolution or
<br /> ordinance of the City Council to such addition or annexation.
<br /> (b) (1) Before the commencement of any construction within the District, its
<br /> directors, officers, or developers and landowners will submit to the Director of the
<br /> Department of Public Works of the City of La Porte, or to his designated
<br /> representative, all plans and specifications for the construction of water, sanitary
<br /> sewer,drainage,and road facilities and related improvements to serve the District and
<br /> obtain the approval of such plans and specifications therefrom. All water wells,
<br /> water meters, flushing valves, valves, pipes, and appurtenances thereto, installed
<br /> or used within the District, will conform exactly to the specifications of the City of
<br /> La Porte.All water service lines and sewer service lines,lift stations, sewage treatment
<br /> facilities, and road facilities, and appurtenances thereto, installed or used within the
<br /> District will comply with the City of La Porte's standard plans and specifications as
<br /> amended from time to time. Prior to the construction of any water, sanitary sewer,
<br /> drainage or road facilities within or by the District, the District or its engineer will
<br /> -10-
<br /> 688550_2
<br />
|