1987-11-09 Regular Meeting - Laserfiche WebLink

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e e ..- - the Southeast Plant: and (d) the City will not enter into any take-or- pay contract whereby a person agrees to take, or to take or pay for Water provided to the City under this Contract or otherwise agrees to purchase any Water provided to the City under this Contract without the prior written consent and approval of the,Authority. ARTICLE III Issuance of Bonds Section 3.01 At such time as the Board deems it appropriate, after considering the advice of its financial advisor and after the " Authority has entered into Water Sales Contracts with all of the Participants, the Authority will exercise its best efforts to issue, se 11 and del i ve r, in one or more series, its Bonds, payable solely from the charges of the Authority payable under such Water Sales Con- tracts, in the aggregate principal amount of $ or such lesser amount as may be necessary or desirable in the opinion of the Board to pay for the cost of acquisition, purchase or construction of the Authority's share of the Southeast Plant, the Transmission System and the Distribution System and all related costs including without limitation initial Operation and Haintenance Expenses, all financing, accounting, eng ineering, legal, printing and other expenses and costs incurred in issuing such Bonds, interest on the Bonds and operating and maintenance expenses of the Authori ty' s share of the Southeast Plant and the Transmission System and the Distribution System during the period of construction, and amounts necessary to fund the interest on and sinking fund established to provide for the payment of the in- terest on and the principal of, the Bonds and any reserve fund, contin- gency fund, operating reserve fund or other fund provided for in the -11-