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<br /> operation of water and wastewater facilities serving the District <br /> and the regional area, the water and wastewater system located <br /> within the District and any Regional facilities shall be operated <br /> and maintained by the City, with water and wastewater services <br /> provided by the City to the property within the District. The <br /> beneficial interest in the Regional facilities and associated <br /> land and easements constructed or acquired by the Developer shall <br /> be conveyed to the City and the City shall be responsible for <br /> operation and maintenance at the City's own expense upon <br /> completion by Developer and acceptance by the City of <br /> construction of the Regional facilities. The rights of the <br /> Developer in the capacity of the Regional facilities assigned to <br /> '... under this Agreement shall be and are hereby expressly <br /> lL. <br /> reserved and the Developer shall have an exclusive ownership <br /> interest in perpetuity in such assigned capacity in the Regional <br /> facilities. Developer's reservation of capacity shall be equal <br /> to the number of living unit equivalents purchased or constructed <br /> by the Developer, other than those constructed for the City, such <br /> living unit equivalents to be computed in accordance with the <br /> formulations in the Service Plan. <br /> The legal title of the Developer in the Regional <br /> facilities shall transfer to the District on the date of <br /> disbursement of the proceeds of the sale of bonds by the District <br /> to reimburse Developer to the extent authorized by the Texas <br /> Water Commission for such facilities. <br /> The City, Developer and the District agree that it is in <br /> the interest of the Developer or the District, as appropriate, to <br /> contract with the City for water and wastewater service within <br /> its boundaries. To facilitate this contract and the provision of <br /> service, to include operation and maintenance of the facilities, <br /> an operation and maintenance agreement for the internal water <br /> transmission and wastewater collection lines and systems within <br /> the District shall be entered into between the City and the <br /> Developer and/or the District, as appropriate. The District and <br /> -12- <br />