Ord 1985-117 - Laserfiche WebLink

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by the District. Notwithstanding anything to the contrary herein, the City hereby specifically consents to the issuance of bonds necessary to finance the construction of facilities listed in Exhibit "B" attached hereto and incorporated herein for all purposes. It is specifically agreed that the District bonds, when issued, shall be secured by a pledge of the District's taxes and revenue s. B. The parties hereto acknowledge and agree that this Agreement has the effect of restricting the general statutory purposes for which the District may issue bonds and notes. The parties further recognize and agree that except as specifically set out herein this Agreement does not otherwise restrict or limit the powers and authority of the District to acquire, own, operate and maintain water or wastewater systems, drainage facilities, recreational facilities, or any other systems, facilities, assets or properties of or serving the District. Except as specifically set out herein, the District may use funds and assets from any other available, lawful source to provide for such acquisition, ownership, maintenance and operation, as well as to accomplish any purpose or to exercise any function, act, power or right authorized by law. Such funds and assets shall include, without limiting the generality of the foregoing, revenues from any of the systems, facilities, properties and assets of the District not otherwise committed for the payment of indebtedness of the District; maintenance taxes; loans, gifts, grants and donations from public or private sources; and revenues from any other source lawfully available to the District. C. No less than ten (10) days before the proposed adoption of any resolution or order of the District calling an election on a proposition to authorize the District to issue bonds or notes, the District shall submit the proposed resolution or order to the City Manager of the City or his designee. The appropriate City staff shall review the resolution or order with reference to this Agreement and the engineering report of the District. Furthermore, when the District applies to the Texas Water Commission for permission to issue district bonds, the District shall, at the same time, file with the City Manager of the City or his designee a copy of the engineering report and any other documents indicating the bonding authority being sought. Appropriate City staff shall review such documents for compliance with this Agreement, the engineering report submitted in support of the bond application and other related documents on file with the City. ARTICLE II I DISTRICT FACILITIES A. It is understood and acknowledged that the City through an agreement with Storm Development or, as appropriate, the District will provide water service to the property within the District by the use of water wells and transmission mains and provide wastewater service by construction of a collection, treatment and waste disposal system to be constructed in accordance with the North San Marcos Service Area Plan ("Service Plan" ), a copy of which is attached hereto as Exhibit "c" and incorporated herein as referenced. It is understood and acknowledged by the parties that the City has granted consent to creation of four (4) municipal utility districts to be located generally north of the City's corporate limits and within its extraterritorial jurisdiction. It is further understood and acknowledged that the City and the developers of the four districts have agreed to construct certain regional water and wastewater facilities which together will connect to and become a part of the City's water and wastewater utility systems. The regional facilities together shall provide service to the four districts and provide additional service capabilities for areas outside of the districts within the City's extraterritorial jurisdiction or utility service area. The City, Storm Development and the District acknowledge, agree and consent that A: SMMUD1. 3-2 (1/27/86)