Laserfiche WebLink
<br />If the CITY elects to assume any of the duties <br />described in Section 7.3 of this Agreement, CITY shall furnish <br /> <br />LCRA the data associated with such ass~med duties to enable <br /> <br />LCRA to comply with this Section 3.4. <br /> <br />3.5 <br /> <br />Moneys shall be withdrawn from CITY's Electric <br /> <br />Utility Account referred to in Section 3.2 hereinabove only <br />upon checks, orders or vouchers signed on behalf of LCRA by a <br /> <br />person or persons designated by it for such purpose. <br /> <br />CITY <br /> <br />shall have the right to approve the designation of such person <br />or persons by LCRA and any LCRA employee so designated shall be <br /> <br />covered by a Banker's Blanket Bond or other fidelity bond <br /> <br />acceptable to CITY in such amount as designated by CITY. <br /> <br />3.6 <br /> <br />LCRA is authorized by this Agreement to make <br /> <br />withdrawals from CITY's Electric Utility Account in strict <br /> <br />accordance with the approved annual OPERATING BUDGET and <br /> <br />CAPITAL BUDGET to: <br /> <br />( 1 ) <br /> <br />Reimburse LCRA for all direct costs, including <br /> <br />overheads (not to exceed 15% of direct costs) <br /> <br />incurred by LCRA in connection with the <br /> <br />operation and maintenance of CITY's SYSTEM. <br /> <br />-16- <br />