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The City shall annually provide to each bondholder <br />certificates or other suitable documentary proofs showing <br />that the insurance coverages specified in (c) and (d) of <br />this paragraph 9 are being maintained. <br /> <br /> (e) The City will cause proper and adequate books and <br />records of account to be kept separate from all other <br />records of the City, reflecting all receipts and <br />disbursements relating to the Liquor Store and its <br />operation. All of said books and records shall be open to <br />inspection and copying at all reasonable times by the Owners <br />of the Bonds, and the City will, without cost, furnish <br />copies of any portions thereof reasonably requested by any <br />bondholder. The City will cause annual operating statements <br />to be prepared and an independent audit of the books of the <br />Liquor Store to be made by a competent public accountant, <br />and will furnish a copy thereof without cost to each <br />bondholder. <br /> <br /> (f) The Gross and Net Revenues of the Liquor Store <br />will be used and applied only as prescribed in this <br />Resolution. The City will at all times maintain operating <br />policies concerning the purchase and sale of merchandise and <br />do and perform all other acts and things necessary to assure <br />that the Net Revenues will be at least sufficient to pay the <br />principal and interest on the Bonds. <br /> <br /> (g) Each and all of the foregoing provisions of this <br />Resolution which in any way tend to secure or assure prompt <br />and full payment of the principal of and interest on the <br />Bonds will be promptly and faithfully performed and carried <br />out by the City and its officers and agents. <br /> <br /> 10. Additional Bonds. The City reserves the right to <br />issue additional bonds payable from the Debt Service Account and <br />secured by the covenants set forth in this Resolution on the <br />terms and conditions specified in this paragraph. <br /> <br /> (a) Purpose of Bonds; Net Revenues. Additional <br />bonds may be issued only to finance the acquisition and <br />betterment of improvements or additions to the Liquor <br />Store, including necessary maintenance equipment, or to <br />refund bonds issued for such purposes. All revenues <br />derived from any such improvements or additions shall <br />be Net Revenues of the Liquor StOre and subject to the <br />provisions of paragraph 8. <br /> <br /> (b) Parity Lien Bonds. Such additional bonds may <br />be made payable from the Debt Service Account and the <br />Net Revenues pledged thereto on a parity as to both <br /> <br />355470.1 <br /> <br />11 <br /> <br /> <br />