Laserfiche WebLink
would or would not result in downgrading the rating then in effect for the VWVfP <br />Stage 4 Expansion Project Bonds or LAVWMA Bonds, or, if the WW'TP Stage 4 <br />Expansion Project Bonds or LAVWMA Bonds are then insured by a Bond <br />Insurer, such amendment shall be considered not to materially adversely affect <br />the holders of the VWVfP Stage 4 Expansion Project Bonds or LAVWMA Bonds <br />if such amendment is consented to by such Bond Insurer. If the VWVfP Stage 4 <br />Expansion Project Bonds or LAVWMA Bonds are not insured by a Bond insurer, <br />and the Rating Agency then rating the VWVfP Stage 4 Expansion Project Bonds <br />or LAVWMA Bonds declines for any reason to comment in writing on the effect of <br />such proposed amendment on the rating then in place on the WW'TP Stage 4 <br />Expansion Project Bonds or LAVWMA Bonds, then such proposed amendment <br />shall be determined to be materially adverse to the holders of the 1MIVfP Stage <br />4 Expansion Project bonds and LAVWMA Bonds if Bond Counsel delivers to the <br />Trustee an opinion to that effect. <br />[d] Regional Service Charges. Notwithstanding paragraph 10(b) of the <br />Regional Agreement, funds derived from Regional Service Charges may be used <br />to advance funds to pay Debt Service for the VWVfP Stage 4 Expansion Project <br />or the LAVWMA Expansion Project ("Expansion Debt Service") <br />Any funds advanced to pay Expansion Debt Service which are derived <br />from Regional Service Charges shall accrue interest at the rate of the Local <br />Agency Investment Fund (referenced in paragraph 7(b) above) until repaid. <br />Repayment shall be required whenever funds in the Rate Stabilization Fund are <br />available which exceed the Bond Target Level until all advanced funds derived <br />from Regional Service Charges to pay Expansion Debt Service are repaid. <br />9. Nonassignability. Neither this Agreement, nor the duties, obligations, <br />or benefits pertaining thereto shall be assignable by either of the parties. <br />Agmt-41 <br />f/sh/sh/DSRSD 17 <br />DES:r <br />12/57~OOr <br />