1987-11-09 Regular Meeting - Laserfiche WebLink

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e e r -- (a) at all times operate the properties in the Ci ty System and the business in connection therewith in an efficient manner and at a reasonable cost, (b) at all times maintain the City System in good repair, working order and condition, and (c) from time to time make all necessary and proper repairs, renewals, replacements,- additions, betterments and improvements with respect to the City System so that at all times the business carried on in connection therewith shall be properly and advantageously conducted; provided, however, this covenant shall not be construed as requiring the City to ex~end any funds which are derived from sources other than the operation of the City System and provided further that nothing herein shall be construed as preventing the City from doing so. Section 10.05 The City covenants and agrees that during the term of this Contract (and any ex tens ion thereof) it will not se 11 or otherwise dispose of or encumber all or substantially all of the City System; provided, however, that the City may, in the ordinary course of business, abandon, sell or otherwise dispose of any property or equipment included in the City System if the City determines in good faith that such property or equipment is surplus, obsolete or otherwise not required for the efficient operation and maintenance of the City System. Sect ion 10.06 The City covenants and agrees that it shall take no action the effect of which would be to prevent, hinder or delay the Authori ty from the timely ful f illment of its obligations under this Contract. Section 10.07 The City convenants and agrees that it shall not (a) issue any bonds, notes or other evidences of indebtedness, (b) incur lease obligations which, under generally accepted accounting -32-