2009-12-01 - Laserfiche WebLink

Home Browse Search

• (c) To establish and maintain adequate financial records for the Project in accordance with "generally accepted governmental accounting standards" defined as, but not limited to, those contained in the U.S. General Accounting Office (GAO) publication "Standards for Audit of Governmental Organizations, Programs, Activities and Functions" (February 27, 1981), and make these records available to the Commission, the EPA Inspector General, or their authorized representatives; (d) To undertake the Project on its own responsibility and release and hold harmless the Commission and the Authority, and their officers, members, directors and employees, from any claim arising in connection with the design, construction or operation of the Project or any other aspect of the wastewater facilities of the Issuer, including any matter due solely to their own negligence; (e) To comply with all terms and conditions of any construction contracts, architectural or engineering agreements, and other agreements affecting the Project, the premises of the wastewater facilities of the Issuer, and its operations and to require its construction contractor to furnish both a performance bond and payment bond in the full amount of the construction contract for the Project; (f) To become familiar with and comply with all federal and state • laws pertaining to equal employment opportunities ensuring that all engineers and contractors for the Project do not discriminate against any person on the basis of race, color,religion, sex, age,national origin or handicap; and (g) To maintain and operate the wastewater facilities of the Issuer in a sound and economical manner and in accordance with standards as may be required or prescribed by federal, state,or local regulatory agencies. 11. The Issuer covenants and agrees with the Authority as follows: (a) For purposes of this paragraph 11, the following terms shall have the meanings set forth below. "Rule 15c2-12" shall mean Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same.may be amended from time to time(17 C.F.R.,Part 240 §240.15c2-12). "Obligated Person" shall mean any person who is committed by contract or other arrangement to support payments in a sum equal to ten percent (10%) or more of the aggregate payments of the loans, including the Bond,which comprise the Revolving Loan Fund administered by the Authority, and which are pledged as security for ADFA Bonds,the proceeds of which fund a portion of the Bond. • 6