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<br />;'.'..:..:...-: <br /> <br /> <br />...... <br />.. <br /> <br />.. <br /> <br />required deposits to any reserve funds required by this <br />contract or by the lender(s) of any indebtedness having a <br />lien on the pledged revenues. The ~ysis of revenues <br />shall be based on the Town's current rate structure or the <br />rate structure most recently adopted. No more than 10% of <br />total revenues may originate from tap and/or connection <br />fees. <br /> <br />The Board of Trustees acknowledges and understand$ that any request for <br />approval of the issuance of additional debt must be reviewed and approved <br />by the CWCB Director prior to the issuance of any additional debt. <br /> <br />.. I' { r .. <br /> <br />{.t.:~\"~- y:\; ~?\,' . <br />/:~~~'i~AriC)~.fEd~' 18m day of June, 2003 A.D. <br /> <br />f. Collateral Durin!!: Loan Repavment. The Board of Trustees shall <br />not !ileU, convey. assign, grant. transfer, mortgage, pledge, encumber, or <br />otheIwise dispose of the Pledged Revenues, so long u any of the <br />principal, aoorued interest. and late char;es. if any, on this loan remain <br />unpaid. without the prior written concurrence of the CWCB. In the event <br />or any such sale. transfer or encumbrance without the CWCBts written <br />concurrence, the CWCB may at any time thereafter declare all outstanding <br />principal, interest, and late charges, if any, on thi~ tQm\ immediately due <br />and payable. <br /> <br /> <br />c4A 4-~ <br /> <br />Mayor - Charles astings <br /> <br />Resolution No. S - Series 2003 <br />