Common use of Permitted Expenditures Clause in Contracts

Permitted Expenditures. Other than to establish and fund Reserve Accounts contemplated by this Article, the Trustees shall not permit any expenditure from the Remedial Works and Measures Account except in accordance with section 10.6 of this Agreement, Article 11 of the Indenture, and pursuant to a proposal made by Chief and Council for a Remedial Works. Such proposal shall set out a complete description of the Remedial Works proposed and all costs associated with the Remedial Works, including engineering costs, consulting and development costs and continuing Operations and Maintenance expenses. Operation and Maintenance expenses shall include Asset Replacement Reserve contributions, anticipated in connection with the proposed Remedial Works, in sufficient detail to enable the Trustees to determine whether or not the expenditure for the Remedial Work meets the financial criteria established by this Article, this Agreement, the Indenture and the objects of the Remedial Works and Measures Account.