Common use of Authority to Issue Bonds Clause in Contracts

Authority to Issue Bonds. The District agrees that the maximum aggregate amount of bonds issued by the District shall not exceed $38,675,000 without the approval of the City. The District may issue Bonds and reimburse any Developer for all purposes and expenditures authorized by applicable law, including: (a) The purchase, construction, acquisition, repair, extension, and improvement of land, easements, works, improvements, facilities, plants, equipment, and appliances (including capacity or contract rights to capacity in any of the foregoing) necessary to: (1) Provide a water supply for municipal uses, domestic uses, and commercial purposes; (2) Collect, transport, process, dispose of, and control all domestic, industrial, or communal wastes whether in fluid, solid, or composite state (other than solid waste, as defined in the Applicable Rules); (3) Gather, conduct, divert, and control local storm water or other local harmful excesses of water; (4) Design, acquire, construct, and finance Road Projects; and (5) Develop and maintain park and recreational facilities, to the extent permitted by applicable law; and (b) Refunding any outstanding Bonds, provided such refunding Bonds satisfy the terms and conditions of this Agreement; (c) Paying organizational, administrative, and operating costs during creation and construction periods and interest thereon, subject to the applicable limitations of Section 49.155 of the Texas Water Code; and (d) Paying other expenses authorized by Section 49.155 of the Texas Water Code.

Authority to Issue Bonds. The District agrees that the maximum aggregate amount of bonds issued DISTRICT may issue Bonds only as permitted by the District shall not exceed $38,675,000 without the approval of the Citythis AGREEMENT. The District may issue Bonds and reimburse any a Developer for all purposes and expenditures authorized by applicable lawCommission rules and regulations and this AGREEMENT; however, includingthe purposes for which the DISTRICT may issue Bonds are restricted to: (a) The purchase, construction, acquisition, repair, extension, and improvement of land, easements, works, improvements, facilities, plants, equipment, and appliances (including capacity or contract rights to capacity in any of the foregoing) necessary to: (1) Provide a water supply for municipal uses, domestic uses, and commercial purposes; (2) Collect, transport, process, dispose of, and control all domestic, industrial, or communal wastes whether in fluid, solid, or composite state (other than solid waste, as defined in the Applicable Rules); (3) Gather, conduct, divert, and control local storm water or other local harmful excesses of water;; and (4) Design, acquire, construct, and finance Road Projects; and (5) Develop and maintain park and recreational facilities, to the extent permitted by applicable law; and. (b) Refunding any outstanding Bonds, provided such refunding Bonds satisfy the terms and conditions of this Agreement; (c) Paying organizational, administrative, and operating costs during creation and construction periods and interest thereon, subject to the applicable limitations of Section 49.155 of the 49.155, Texas Water Code; and (d) Paying other expenses authorized by Section 49.155 of the 49.155, Texas Water Code.