Laserfiche WebLink
insured against does not exceed 80% of the full insurable value of . <br /> the damaged facility, (b) public liability insurance relating to the <br /> operation of the Parking System with limitations of not less than <br /> $100 , 000 . 00 for one person and $300 ,000 . 00 for more than one person <br /> involved in one accident to protect the City from claims of bodily <br /> injury and/or death, and not less than $10 ,000 .00 from claims for <br /> damage to property of others which may arise from the City ' s operation <br /> of the Parking System, and (c) if the City owns or operates a vehicle <br /> in the operation of the Parking System, vehicular public liability <br /> insurance with limitations of not less than $100 , 000 . 00 for one person <br /> and $300 , 000 . 00 for more than one person involved in one accident to <br /> protect the City from claims of bodily injury and death, and not less <br /> than $10 , 000 . 00 against claims for property of others which may arise <br /> from the City' s operation of vehicles . The premiums paid for all such <br /> insurance shall be regarded and paid as a current expense. <br /> Section 26 . The City covenants that so long as the Government <br /> holds any of the Series A Bonds and/or Series B Bonds , the City will <br /> furnish to the Government periodic operating statements for the Project, <br /> and any facilities the revenues of which are pledged to payment of <br /> the Series A Bonds and/or Series B Bonds , in such form and substance <br /> and for such periods as may be required by the Government. The City <br /> further covenants that on or before ninety (90) days after the close <br /> of each fiscal year, the City will furnish to any bondholder who shall <br /> request same in writing, and to the Government so long as it holds <br /> any of the Series A Bonds and/or Series B Bonds , copies of an annual <br /> audit report prepared by an independent public accountant or a State <br /> auditing official, covering the operations of the preceding fiscal year. <br /> Said annual audit report will reflect in reasonable detail the financial <br /> condition and record of operation of the City, the Project, and other <br /> pledged facilities including, but not limited to, the following <br /> information: <br /> 1 . An evaluation of the manner in which the City has <br /> complied with the covenants of this ordinance and the Loan Agreement <br /> with the Government. <br /> -26- <br />