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Res 1986-095B
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Res 1986-095B
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8/27/2007 3:20:29 PM
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8/27/2007 3:20:29 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Purchase
Number
1986-95B
Date
8/11/1986
Volume Book
81
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<br /> reflecting marketable title shall be written by an attorney at law <br /> satisfactory to CITY regarding any of the Property to be conveyed <br /> to CITY. <br /> ARTICLE V <br /> CITY'S AGREEMENT TO PAY <br /> 5.01 CITY agrees to pay to LCRA on the Closing Date, as <br /> hereinafter defined, the sum of $ in immediately <br /> available funds. <br /> ARTICLE VI <br /> LCRA'S AGREEMENT TO ASSIGN ACCOUNTS RECEIVABLE <br /> AND CITY'S ASSUMPTION OF CERTAIN OBLIGATIONS <br /> 6.01 LCRA agrees to sell, transfer, assign, and deliver to <br /> CITY on said Closing Date, all of the accounts receivable, <br /> whether due or not yet due, for electric service, owned as of the <br /> Closing Date, however classified on LCRA's books, arising out of <br /> the operation of the Properties described in Article II of this <br /> Agreement, and business incident thereto. <br /> 6.02 In consideration of the transfer and assignment of said <br /> accounts, CITY agrees to pay LCRA, as early as practicable after <br /> the Closing Date, the following amounts computed as of said <br /> Closing Date: <br /> 100% of billed active accounts receivable from customers for <br /> electric service, however classified on LCRA's books with respect <br /> to which not more than thirty (30) days have elapsed from the end <br /> of the first unpaid billing period. For any account receivable <br /> 9. <br />
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