Res 2024-256 approving an agreement with the Lower Colorado River Authority (“LCRA”)

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c. Other expenses specified in the applicable Work Order or otherwise authorized in advance by both Parties, including the costs of contracts entered into with third parties to perform Services. 2.3. LCRA will invoice the City in accordance with terms of the work order. For Fixed Price work orders, LCRA will invoice a fixed amount monthly. For Cost Plus work orders, LCRA will invoice the City for all costs incurred, as defined in Section 2.2 of this Agreement, on a monthly basis. 2.4. The City shall pay LCRA, in accordance with the electronic funds transfer methods provided by LCRA,the amount due within thirty(30)days after receipt. In the event that payment in full is not timely made, interest shall accrue on the unpaid balance at the lesser of the maximum lawful rate or one percent(1.0 %) per month until paid in full. 2.5. The City pledges the revenues of its electric utility system to pay its obligations under this Agreement. In addition, the amounts payable by the City to LCRA under this Agreement are operation and maintenance expenses as contemplated by Section 1502.056 of the Texas Government Code and, as a result, are a first lien against the revenues of the City to secure the City's payment obligations to LCRA hereunder. The City agrees that it shall not request Services for which funds have not been appropriated and are not available. 2.6. The City reserves the right to review LCRA's invoices and to audit and examine a any reasonable time the books and records of LCRA to the extent necessary to verify the accuracy of any statement, charge, computation or invoice made under this Agreement, and to recover any overcharges paid by it. III.THE CITY'S RESPONSIBILITIES 3.1. To the extent permitted by law, the City shall identify the Facilities and equipment upon which LCRA will be requested to provide Services and shall provide LCRA with all necessary documents and information relevant to the Facilities and equipment. 3.2. The City shall review and respond as appropriate to all reports, studies, recommendations and other submissions of LCRA so as not to delay the performance of the Services. IV. DOCUMENTS, DATA AND PUBLICATIONS 4.1. It is agreed and understood that the specifications, drawings, plans, contracts and deliverables developed under this Agreement, or other data, documents or information provided to LCRA by the City pursuant to this Agreement are of a strictly confidential nature and, except as otherwise required by law,no such confidential information shall be disclosed to any third Party without the prior written consent of the City.