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extent permitted by law annually enact an increase in its rates and charges reasonably <br />designed to be consistent with SRF Policy Guidelines regarding such coverage. <br />x)Notwithstanding any provision of the Authorization Instrument to the contrary, <br />not make any payment in lieu of property taxes from any account of the Drinking Water <br />System (i) if the Finance Authority provides notice to the Participant that the Finance <br />Authority has determined in its reasonable discretion that such a transfer adversely affects <br />the Finance Authority and(ii)more frequently than semiannually if the Authority provides <br />notice to the Participant so requiring such a limitation on frequency. <br />y) Comply with all requirements of this Agreement applicable to the Loan <br />including those imposed by the attached Exhibit D). <br />Section 3.03. Representations and Warranties of the Participant. After due <br />investigation and inquiry, the Participant hereby represents and warrants to the Finance Authority <br />that: <br />a) The Participant is duly organized and existing under State law, and constitutes <br />a"political subdivision"within the meaning of I.C. 5-1.2-2-57 and a"participant"within <br />the meaning of I.C. 5-1.2-2-54. The Project and the Drinking Water System are subject to <br />I.C. 8-1.5. <br />b) The Participant and its Drinking Water System are subject to the jurisdiction <br />of the Commission under I.C. 8-1-2 or any other applicable law and the Project and the <br />Bonds are subject to the Commission's review and approval requirements.If the Participant <br />or its Drinking Water System is subject to the jurisdiction of the Commission under I.C. 8- <br />1-2 or any other applicable law, the Commission has reviewed and approved the Project <br />and the issuance of the Bonds and no additional approvals or consents are required to be <br />obtained from the Commission related thereto. <br />c) The Participant has full power and authority to adopt the Authorizing <br />Instrument, enter into this Agreement and issue the Bonds and perform its obligations <br />hereunder and thereunder. <br />d) By all required action, the Participant has duly adopted the Authorizing <br />Instrument and authorized the execution and delivery of this Agreement,the Bonds and all <br />other papers delivered in connection herewith. <br />e) Neither the execution of, nor the consummation of the transaction <br />contemplated by, this Agreement nor the compliance with the terms and conditions of any <br />other paper referred to herein,shall conflict with,result in a breach of or constitute a default <br />under, any indenture, mortgage, lease, agreement or instrument to which the Participant is <br />a party or by which the Participant or its property, including the Drinking Water System, <br />is bound or any law, regulation, order, writ, injunction or decree of any court or <br />governmental agency or instrumentality having jurisdiction. <br />B-17