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<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. Th~ ~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 10010 of
<br />total revenues may originate 1i"om tap and/or connection
<br />f~. .
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<br />The Board of Trustees acknowledges and understand$ that any request for
<br />approval.ofthe issuance of additional debt must be reviewed and approved
<br />by the eweB Director prior to the issuance of any additional debt
<br />
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<br />/;;}{ .'ifAtiOP.fE,dOO~ lSlhday of June, 200) A.D.
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<br />f. Collateral DuriIm Loan Rcpa}'IllCllt. The Board of Trustees shall
<br />not $e11, convey. assign, grant. transfer, mortgage, pl~ge, encumber, or
<br />. otherwise dispose of tho Pledged Revenues, so long u any of the
<br />principal, aooro.ed interest, and late charaes. if any, on this loan remain
<br />unpaid. without the prior written concurrence of the ewell. 10 the event
<br />of my such $ate. transfer or encumbrance without the CWCB's written
<br />concurrence, the CWCB may at any time thereafter declare all outstanding
<br />principal, interest, and late charges, if any, on thifil toa.n immediately due
<br />and payable.
<br />
<br />
<br />.. . andra Crespin
<br />Town Clerk
<br />
<br />R.esoJution No.8 - Series 2003
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