Operation and Maintenance of System. The Municipality covenants and agrees that it shall, in accordance with prudent public water supply utility practice: (1) at all times operate its System in an efficient manner in accordance with applicable laws and regulations; and (2) maintain its System, making all necessary and proper repairs, renewals, replacements, additions, betterments and improvements necessary to maintain its system in good repair, working order and operating condition; and (3) implement and collect any rates, fees and charges for use of the System that comprise the Dedicated Source of Revenues, including charges levied for use of the System adopted by the Secretary, after consultation with the governing body of the Municipality, to ensure repayment of all Parity Indebtedness (including the Loan) without preference in accordance with the provisions of the Loan Act, including Section 65-163j thereof; and (4) take such other action as the Secretary may require in accordance with express powers granted to the Secretary under the Loan Act and the Regulations.
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement