Ord 1987-020 - Laserfiche WebLink

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assets, or properties of or serving the District not incon- sistent with this Agreement. Such assets shall include, without limitation: system revenues or monies raised from the collection of an ad valorem tax not otherwise committed for the payment of the District's outstanding bonds; mainte- nance taxes; loans, gifts, grants, and donations from public or private sources; and revenues from any other source lawfully available to the District. (b) The Di strict may use funds and assets from any other available, lawful sources to acquire, maintain, and operate District facilities as well as to accomplish any purpose or to exercise any power or right authorized by law in conformi ty wi th thi s Agreement. (c) The City hereby consents to the tax-exempt financ- ing by the District to the full extent permitted by law and the Commission of the project which is designed to provide all water, wastewater, and drainage utilities necessary to serve the District at its full build-out, including Regional Facilities and internal facilities and at the same time to further the City's and District's shared goal of utilities' regionalization to the greatest extent possible and which is described in Exhibi t "c" attached hereto (the "proj ect") . The parties acknowledge that certain details of the Project may be mutually modified in the future as more fully dis- cussed in Section 3.02(b) hereof and agree that the District consents to finance only the Project, as it may be amended with the approval of all parties hereto from time to time. Exhibi t "c" includes the non-construction items and costs necessary to and associated with the District's financing. Section 2.05. Audit. The District shall file a copy of its annual audit with the City Secretary, as provided in Section 50.374, Texas Water Code, as amended. ARTICLE THREE WATER, WASTEWATER, AND DRAINAGE FACILITIES Section 3.01. General Stateme~t. It is acknowledged and agreed that the City, as consideration for granting its consent to the creation of the Lowman Ranch Municipal Utility District, shall receive in return the participation of the District in the planning, designing, financing, and constructing of certain portions of the Ci ty' s regi onal water and wastewater systems (the "Regional Facilities") as -4-