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Within thirty (30) days following the defeasance of any 1992 <br /> Bonds pursuant to this Section, written notice of the action so <br /> taken shall be mailed to Standard & Poor' s Corporation, Moody' s <br /> Investors Service, Inc. , Shearson Lehman Brothers Inc. , Foster <br /> and Marshall Division, Seattle-Northwest Securities Corporation, <br /> and Dain Bosworth Incorporated, at their main offices, or to <br /> their successors in business, if any, at their main offices . At <br /> the same time, such notice shall be mailed to all registered <br /> owners of the 1992 Bonds at their last addresses, if any, <br /> appearing upon the Bond Register . The mailing of such notices <br /> shall not be a condition precedent for defeasance of the 1992 <br /> Bonds so provided for. <br /> Section 11 . Bond Covenants . <br /> A. Maintenance and Operation. The City shall at all <br /> times maintain, preserve and keep the properties of the System in <br /> good repair, working order and condition and will from time to <br /> time make all necessary and proper repairs, renewals, <br /> replacements, extensions and betterments thereto, so that at all <br /> times the business carried on in connection therewith will be <br /> properly and advantageously conducted, and the City will at all <br /> times operate or cause to be operated said properties of the <br /> System and the business in connection therewith in an efficient <br /> manner and at a reasonable cost . <br /> B. Rate Covenant . The City shall establish, maintain <br /> and collect rates and charges for the use of the services and <br /> facilities of and all commodities sold, furnished or supplied by <br /> 38 Fwwoo3 DOC 92/09/21 <br />