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10963-23-Ordinance Authorizing the Acquisition and Construction of Certain Additions and Improvements to the Municipal Waterworks of the City of South Bend
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10963-23-Ordinance Authorizing the Acquisition and Construction of Certain Additions and Improvements to the Municipal Waterworks of the City of South Bend
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lobbying disclosures. The Participant understands and acknowledges that pursuant to such <br /> Lobbying Restrictions, the making of any such prohibited expenditure, or any such failure <br /> to file or disclose, is subject to a civil penalty of not less than $10,000 and not more than <br /> $100,000 for each such expenditure or failure. <br /> (u) Comply with all federal requirements applicable to the Loan (including those <br /> imposed by the 2014 Appropriations Act and related SRF Policy Guidelines) which the <br /> Participant understands includes, among other, requirements that all of the iron and steel <br /> products used in the Project are to be produced in the United States ("American Iron and <br /> Steel Requirement") unless (i) the Participant has requested and obtained a waiver from <br /> the Agency pertaining to the Project or (ii) the Finance Authority has otherwise advised <br /> the Participant in writing that the American Iron and Steel Requirement is not applicable <br /> to the Project. <br /> (v) Comply with all record keeping and reporting requirements under the Safe <br /> Drinking Water Act, including any reports required by a Federal agency or the Finance <br /> Authority such as performance indicators of program deliverables, information on costs <br /> and project progress. The Participant understands that (i) each contract and subcontract <br /> related to the Project is subject to audit by appropriate federal and state entities and <br /> (ii) failure to comply with the Safe Drinking Water Act and this Agreement may be a <br /> default hereunder that results in a repayment of the Loan in advance of the maturity of the <br /> Bonds and/or other remedial actions. <br /> (w) Whenever from time to time requested by the Finance Authority, submit <br /> evidence satisfactory to the Finance Authority demonstrating that the Participant's rates <br /> and charges are at a level adequate to produce and maintain sufficient net revenue after <br /> providing for the proper Operation and Maintenance of the Drinking Water System, on a <br /> proforma basis consistent with SRF Policy Guidelines, to provide 1.25x coverage on all <br /> obligations of the Drinking Water System (including the Bonds) and, in the event the <br /> Participant's rates and charges are insufficient to demonstrate such coverage, then to the <br /> 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 /> B-13 <br />
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