Laserfiche WebLink
_.. � <br />� iii. the Obligations must include a requirement that the City shall at all times <br />maintain and collect sufficient rates and charges in conjunction with any <br />; other legally available funds so that after payment of the costs of operating <br />� and maintaining the system, it produces revenues in an amount not less <br />than 1.10 times debt service requirements of all outstanding Obligations of <br />the City and other obligations of the City which are secured in whole or in <br />part by the pledged revenues, for which the City is budgeting the <br />repayment of such Obligations, or the City shall provide documentation <br />which evidences the levy and collection of an ad valorem tax rate <br />dedicated to the Interest and Sinking Fund, in conjunction with any other <br />legally available funds, sufficient for the repayment of debt service <br />requirements. <br />PROVIDED, however, the commitment is subject to the following special conditions: <br />37. the loan is approved for funding under the TWDB's pre-design funding option, and initial <br />and future releases of funds are subject to all of the TWDB's rules relating to such <br />funding option; and <br />38. the Loan Forgiveness Agreement must include a provision stating that the City <br />shall return any loan forgiveness funds that are determined to be surplus funds in a <br />manner determined by the EA. <br />� � <br />. APPROVED and ordered of record this 20th day of September, 2012. <br />ATTEST: <br />��tX LI'� �Q�� !S1,/l1/a <br />Melanie Callahan <br />Executive Administrator <br />TEXAS WATER DEVELOPMENT BOARD <br />Joe . Crutcher, Vice Chairman <br />Exhibit A, Page 10 of 10 <br />