Project Operating Agmt 02012011 - Laserfiche WebLink

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have on deposit when needed sufficient funds to pay the Debt Service and Operating Costs as they come due in the current Fiscal Year Section 414 Operation of Project The Authority will so long as the Bonds are outstanding continue to operate the Project The Authority will use its best efforts to employ or cause to be employed sufficient staff to maintain and operate the Project User hereby covenants to purchase any replacement or additional components to be used in conjunction with the service provided by the Project from the Authority or in conformity with such specifications as the Authority may from time to time prescribe User will not use the service provided by the Project with any equipment which is not authorized by the Authority User hereby covenants not to use the Project in any manner which may adversely affect the service provided by the Project Section 415 Reserved Section 416 Further Assurances The Authority and the User will each adopt deliver execute and make any and all further assurances instruments and resolutions as may be reasonably necessary or proper to carry out the intention or to facilitate the performance hereof of the respective parties to this Operating Agreement Section 417 Eminent Domain Proceeds If all or any part of the Project shall be taken by eminent domain proceedings the Net Proceeds thereof shall be used to prepay or defease the Bonds Section 418 Use of Eminent Domain User hereby covenants and agrees to the extent it may lawfully do so that during the term of this Operating Agreement and so long as any of the Bonds remain Outstanding and unpaid User will not exercise the power of condemnation with respect to the Project or any component thereof User further covenants and agrees to the extent it may lawfully do so that if for any reason the foregoing covenant is determined to be unenforceable or if User should fail or refuse to abide by such covenant and shall condemn the Project or any component thereof the appraised value of the Project or such component shall not be less than the greater of i if the Bonds are then subject to redemption the principal and interest due on the Bonds outstanding through the date of their redemption or ii if the Bonds are not then subject to redemption the amount necessary to defease such Bonds to the first available redemption date in accordance with the Trust Agreement Section 419 Further Representations Covenants and Warranties of the Authority The Authority represents covenants and warrants to the Users as follows a Due Organization and Existence The Authority is a joint exercise of powers authority duly organized and validly existing under the JPA Agreement and the laws of the State 15 Project Operating Agreement 1 1 17 10 City Attorney Group