1987-11-09 Regular Meeting - Laserfiche WebLink

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e . 'II"'"' - (ii) any sinking fund, and all reserve, contingency and other fund payments to be made in respect of any Bonds when, and as the same shall become due and payable; and (iii) fulfill the terms of any agreements or covenants with the owners of any Bonds and/or wi th any person on their behalf. The City recognizes that the Authority must fix and from time to time alter and revise its rates and charges for Water delivery services from the Southeast Plant through the Authori ty' s Transmission System and Distribution System so that the gross revenues and the net revenues actually received by the Authority from the Participants will produce revenues sufficient as aforesaid on the basis of actual cash requirements, with full allowance being made for delinquencies and costs of collections. Section 6.02 The parties further recognize that the rates and charges payable hereunder and under the other Water sales contracts will be the only source of funds (other than bond proceeds) available to the Authority with which to discharge its obligations hereunder, and further, that the Authority is not organized for profit and that its rates and charges should be at all times the lowest rates and charges which are consistent with the aims and objectives of this Contract, the e ff ic ient and economical prov is ion of Water del i very serv ices to all Participants now or hereafter served by the Authority and good business management on the part of the Authority. Section 6.03 For the services rendered and to be rendered by the Authority under this Contract, the City agrees to pay to the Authority, at the time and in the manner hereinafter set forth, so long as this Contract is in force and effect, the rates and charges established as set forth in this Contract. Section 6.04 Notwithstanding any term or provision herein to the -21-