CT2015-104 Contract - Laserfiche WebLink

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"Gross Revenue"shall mean all income and revenue derived by the District from the operation of the System. "Operation and Maintenance Expenses" shall mean all reasonable and necessary current expenses of the District,paid or accrued,of operating,maintaining and repairing the System, and shall and shall include, without limiting the generality of the foregoing, legal and overhead expenses of the District directly related and reasonably allocable to the administration of the System, insurance premiums,the reasonable charges of depositary banks,contractual services,professional services required by any resolution or agreement authorizing debt of the District, salaries and administrative expenses,labor,and the cost of materials and supplies used for current operation,but not including depreciation, legal liabilities incurred by the District as the result of its negligence in the operation of the System or other ground of legal liability not based on contract, improvements, extensions,enlargements or betterments,or any charges for the accumulation of reserves or required to be rebated to the United States of America pursuant to the Tax Code. "System"shall mean the property and facilities comprising the water and wastewater systems of the District, including real and personal property and any easements,and also any and all additions and betterments thereto and improvements and extensions hereafter constructed or acquired by the District and used in connection with the water and wastewater facilities of the District. Section 6. Limitation of Actions. Pursuant to Section 11-57-212 of the Supplemental Act, no legal or equitable action brought with respect to any legislative acts or proceedings in connection with the Financing Documents shall be commenced more than thirty days after the issuance of the Promissory Notes. Section 7. Limited Obligation;Special Obligation. The Financing Documents are payable solely from the Pledged Revenue and the Financing Documents do not constitute a debt within the meaning of any constitutional or statutory limitation or provision. Section 8. No Recourse against Officers and Agents. Pursuant to Section 11-57- g g 209 of the Supplemental Act, if a member of the Board,or any officer or agent of the District acts in good faith,no civil recourse shall be available against such member,officer,or agent for payment of the principal of or interest on the Promissory Notes. Such recourse shall not be available either directly or indirectly through the Board or the District, or otherwise, whether by virtue of any 5