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• any: other facility within the 'City for :-the off-sale of <br /> intoxicating liquors at retail; . except as.:may .be requ•ir.ed by <br /> law. 'The. City 'reserves _ the right to issue -licenses for the <br /> establishment -and operation of .one or :more facilities within <br /> the City for the on-sa=1e of intoxicating .liquors at retail. <br /> 4 :02 . Disposition of Property. If. any properties <br /> constituting capital assets' of the Store shall be sold and <br /> disposed- of, it shall be only at their fair market value, and <br /> the proceeds of such sale or disposition shall be - used either <br /> t-o procure -other equivalent capital assets or deposited in the <br /> Revenue Bond Account and applied to pay principal of and <br /> interest on bonds payable therefrom. No such sale or sales <br /> shall be made at times or prices such as the imperil the prompt <br /> and full payment of bonds payable from the Revenue Bond Account <br /> and the interest thereon. <br /> 4 . 03 . Insurance. The City will procure and keep in <br /> force insurance on all buildings constituting the Store and the <br /> equipment and furnishings thereof and all stocks of <br /> merchandise, protecting against loss or damage by fire, <br /> tornado, windstorm, flood, theft and all other causes <br /> customarily insured against for like properties , in amounts <br /> sufficient' to cover total loss thereof , and will procure and <br /> keep in force suitable fidelity bonds covering all employees . <br /> handling moneys of the Store. In the event of loss covered by <br /> said insurance policies or bonds, the proceeds shall be used .to . <br /> repair or restore the damage compensated thereby or to retire <br /> bonds payable from the Revenue Bond Account. The City will <br /> also procure and keep in force insurance protecting against <br /> liability of the City to any person under Minnesota Statutes , <br /> Section 340A. 801 and any laws amendatory thereof or <br /> supplemental thereto, in such amounts as are reasonably <br /> available and are reasonably determined by the Council to be <br /> adequate to protect against the contingency of any claim <br /> becoming a lien in any manner whatsoever upon the Net Revenues <br /> of the Store , and will by such insurance and, by diligent <br /> enforcement- of all provisions of law relating to the operation <br /> of the Store , save the owners of all bonds payable from the <br /> Revenue Bond Account harmless from any and all such claims. <br /> 4 .04 . Application of Revenues. rhe' gross revenues <br /> and Net Revenues -of the Store will be used and applied only as <br /> prescribed in Section 3 hereof": and its subdivisions. The City <br /> .will at all times maintain operating policies ,.concerning the <br /> purchase and sale of merchandise and do and perform. all other - <br /> .acts and things -necessary to assure that the Net .Revenues <br /> collected - from':time to time will always be sufficient to meet <br /> all payments of principal and interest on bonds payable from <br /> the Revenue Bond -Account as-the same become due. <br /> • <br /> -17- <br />