70-068 Ordinance - Laserfiche WebLink

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or entities entitled to payment within 20 days of the receipt of such invoices, demands or estimates from the LGA. The Executive Director shall also deliver to the LGA within forty-five days of the receipt of such accounting, certificates of the Director of Finance of the State of Ohio certifying that the moneys in the amounts necessary to pay the F,ligible Project Costs obligated or to be obligated as set forth in the accounting required above have been lawfully appropriated by the Genera] Assembly of the State of Ohio for the purpose for which. they have or arc to be obligated, are in the treasury of the State of-Ohio free from any previous encumbrance, have been encumbered to pay such Eligible Project Costs and will be paid by State warrant when such Eligible Project Costs have been incurred and payment requested from the OWDA. Section 3.9. Not later than ten (10) days prior to the commencement of the Contract Period of Years, the LGA shall make a full and complete accounting to the OWDA of the final Eligible Project Costs, which accounting shall include a complete and accurate breakdown of such Eligible Project Costs between Federal Participation Cost and Local Participation Costs. ARTICLF, IV -PARTICIPATION PAYMENTS BY LGA Section 4.1. Subject to the further provisions hereinafter set forth, and in consideration for the providing by the OWDA of the Services in the Project Facilities for use in the LGA's Utility, the LGA agrees to and shall pay semi-annually on January 1 and July 1 of each year of the Contract Period of Years to the.OWDA solely from the revenues of the LGA's Utility one-half of the Total Participation Charge. The obligation of the LGA to pay the charges set forth shall not be assignable, and the LGA shall not be discharged therefrom, without the prior written consent of the OWDA. In the event that services supplied by the Project Facilities shall cease or be suspended for any reason, unless otherwise agreed to in writing by the OWDA, the LGA shall continue to be obligated to pay the charges pursuant to this Section 4.1. In the event the LGA defaults in the payment of any of the charges set forth in this Section 4.1, the amount of such default shall bear interest at the Contract Interest Rate or six per cent (6%) per annum, whichever is greater from the date of the default until the date of the payment thereof. Anything in this Agreement to the contrary notwithstanding, neither the general resources of the LGA shall be required to be used, nor the general credit of the LGA pledged for the performance of any duty under this Agreement, but any payment to be made under this Agreement shall be made only from the revenues of the LGA's Utility; provided, however, that, if otherwise lawful, nothing herein shall be deemed to prohibit the LGA from using, of its own volition, any of its general resources for the fulfillment of any of the terms and conditions of this Agreement. Section 4.2. It is agreed that, during the first fifteen days of June and December, the OWDA shall invoice the LGA for the sum owing by the LGA pursuant to Section. 4.1 and that payment of each such invoice shall be made by the LGA to the OWDA not later than the first day of the following month. Section 4.3. The LGA hereby agrees: (a) that it will at all times prescribe and charge such rates for the services of the Utility, as shall result in Utility revenues at least adequate, after meeting operation and maintenance expenses therefor and the payment of all amounts required by any Mortgage, Indenture of Mortgage, Trust Indenture or other instrument heretofore or hereafter granted by the LGA to secure bonds heretofore or hereafter issued by the LGA payable solely from revenues of the Utility, to provide for the payments required by Section 4.1 hereof; (b) that the LGA will furnish to the UWDA annually reports of the operation and income of the Utility and also -8-