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10A Action 2010 0210
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10A Action 2010 0210
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9/27/2010 9:44:02 AM
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9/16/2010 5:30:32 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
9/20/2010
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_CC Agenda 2010 0920
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2010\Packet 2010 0920
Reso 2010-124
(Reference)
Path:
\City Clerk\City Council\Resolutions\2010
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• <br /> and User hereby exempts.and agrees to save harmless the Authority from any costs, loss or <br /> damage whatsoever arising or occasioned in accordance with the provisions herein contained. <br /> (c) Proceedings at Law or In Equity. The Authority may, and shall at the written <br /> direction of either Bond Holder: <br /> • <br /> (i) by mandamus or other action or proceeding or suit at law or in equity, <br /> enforce its rights against a User, or any board member, officer of employee thereof, and compel <br /> the User or any such board member, officer or employee to perform and carry out its or his <br /> duties under applicable law and the agreements and covenants contained herein required to be <br /> performed by it or him; <br /> (ii) by suit in equity enjoin any acts or things which are unlawful or violate the <br /> • rights of the Authority; or <br /> (iii) by suit in equity upon the happening of an Event of Default require the <br /> User and its board members, officers and employees to account as the trustee of an express trust. <br /> Section 5.03. Non - Waiver. . <br /> • A waiver of any default or breach of duty or contract by the Authority (which waiver <br /> shall be subject to the prior written consent of the Bond Holders) shall not affect any subsequent <br /> default or breach of duty or contract or impair any rights or remedies on any such subsequent <br /> default or breach of duty or contract. No delay or omission by the Authority to exercise any <br /> right or remedy accruing upon any default or breach of duty or contract shall impair any such <br /> right or remedy or shall be construed to be a waiver of any such default or breach of duty or <br /> contract or an acquiescence therein, and every right or remedy conferred upon the Authority by <br /> • applicable law or by this Article V may be enforced and exercised from time to time and as often <br /> as shall be deemed expedient by the Authority. <br /> If any action, proceeding or suit to enforce any right or exercise any remedy is abandoned <br /> or determined adversely to the Authority, the Authority and the Users shall be restored to their <br /> former positions, rights and remedies as if such action, proceeding or suit had not been brought <br /> or taken. <br /> Section 5.04. Remedies Not Exclusive. <br /> No remedy herein conferred upon or reserved to the Authority is intended to be exclusive <br /> of any other remedy, and each such remedy shall be cumulative and shall be in addition to every <br /> other remedy given hereunder or now or hereafter existing in law or in equity or by statute or <br /> otherwise and may be exercised without exhausting and without regard to any other remedy <br /> conferred by any other law. <br /> Section 5.05. Agreement to Pav Attorneys' Fees and Expenses. <br /> In the event any party to this Operating Agreement should default under any of the <br /> provisions hereof and the nondefaulting parties should employ attorneys or incur other expenses <br /> for the collection of moneys or the enforcement or performance or observance of any obligation <br /> 19 <br /> Project Operating Agreement 082710 <br />
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