Project Operating Agmt 02012011 - Laserfiche WebLink

Home

such discontinuance or reduction Recognizing that the Users will rely on the Authority for uninterrupted service the Authority agrees to use its best efforts throughout the term of this Operating Agreement to minimize any such discontinuance or reduction of service The Authority shall prepare a budget for all Operating Costs by the beginning of each fiscal year and shall promptly provide each User with a copy thereof To the extent Operating Costs in any year exceed the amount set forth in the budget the Authority shall promptly notify each User in writing of such increases Upon receipt of such notice the User hereby agrees to use its best efforts to pay such increased Operating Costs as soon as possible The Authority acknowledges and agrees that the User has full authority and discretion to grant or deny applications for land use entitlements and approvals within its jurisdiction related to the Project and that this Operating Agreement does not grant the Authority any such entitlements or approvals to develop the Project Section 203 Bond Issuance The Bonds shall be issued sold and delivered on such terms and conditions as the Authority in its reasonable discretion deems necessary or desirable User hereby agrees to cooperate with the Authority and its designated representatives and to provide all reasonably requested material relating to the User in order to timely accomplish such authorization issuance sale and delivery of the Bonds provided that such cooperation does not constitute an agreement to issue any land use permits However User covenants to promptly process all applications of the Authority for necessary land use permits The Authority shall issue Bonds only for that portion of the Projects Construction that is not funded by prepaid Service Payments from Users Section 204 Term Unless extended by mutual agreement the term of this Operating Agreement shall commence on the first date of delivery of any Bonds to the initial purchaser thereof or if executed later the date of execution of this Operating Agreement and terminate subject to such other termination events as provided in this Operating Agreement on the date on which no Bonds are Outstanding ARTICLE III PAYMENT OF INITIAL PAYMENTS AND USER PAYMENTS RESERVE AND REPLACEMENT FUND Section 301 Payment of the Initial Payment and User Payments New Users who enter into an Operating Agreement and existing Users who have paid an Initial Payment of 200 per radio who wish to increase the number of radios in their existing service shall pay an Initial Payment to the Authority or its successors or assigns from any source of legally available money of Two Hundred Dollars 200 per radio The Initial Payments shall be deposited in the Reserve and Replacement Fund In addition each New User 7 Project Operating Agreement 1 1 17 10 City Attorney Group