Laserfiche WebLink
The City shall provide a copy of such financial statements and reports each year to the Bond <br /> Insurer. <br /> H. No Free Service. The City will not furnish or supply or permit the <br /> furnishing or supplying of any commodity, service or facility furnished by or in connection with <br /> the operation of the System, free of charge to any person, firm or corporation, public or private, <br /> so long as any Bonds are outstanding and unpaid. <br /> I. Additions and Improvements. The City will not expend any of the <br /> revenues derived by it from the operation of the System or the proceeds of any indebtedness <br /> payable from the Revenue of the System for any extensions, betterments or improvements to the <br /> System that are not legally required or economically sound, and that will not properly and <br /> advantageously contribute to the conduct of the business of the System in an efficient manner. <br /> J. Collection of Delinquent Accounts. The City will, on or before April 1 of <br /> each calendar year, determine all accounts that are delinquent and will take all necessary action <br /> to enforce payment of such accounts including real property foreclosure actions pursuant to <br /> RCW Chapter 35.67, as amended, or its successor statute, if any, against those property owners <br /> whose accounts are delinquent. <br /> K. Collection and Application of Assessments. The City will promptly <br /> collect all outstanding Assessments and pay the same into the Revenue Bond Fund. Such <br /> Assessments may be used to meet the required payments into any account in the Revenue Bond <br /> Fund and may be used to pay the principal of, premium, if any, and interest on any Parity Bonds <br /> without said Assessments being allocated to the payment of the principal of and interest on any <br /> particular issue or series of such Parity Bonds. <br /> L. Collection of Delinquent Assessments. The City will, on or before April 1 <br /> of each calendar year, determine all Assessments or installments thereof that are delinquent and <br /> will take all necessary action to enforce payment of such Assessments, including real property <br /> -32- DOTOQ5 DOC 98/04/28 <br />