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<br /> Upon the issuance and sale of its bond anticipation <br /> notes or bonds for purposes authorized herein, the District shall <br /> pay Developer the cost of construction of any facilities <br /> constructed or financed by Developer to the extent authorized by <br /> the Texas Water Commission. To the extent the District is not <br /> permitted to pay Developer for any facility for capacity <br /> necessary to serve the District, Developer shall dedicate such <br /> facility to the District without compensation. Developer <br /> understands and agrees that its ownership interest in the <br /> Regional facilities, other than its ownership interest in the <br /> reserved capacity in these facilities, shall transfer in fee to <br /> the City, without compensation except as provided in this <br /> Agreement, upon inspection and acceptance of such facilities by <br /> the City. Provided, however, this obligation to dedicate without <br /> compensation shall have no effect on the City's obligations in <br /> Section F below to reimburse Developer for construction of City's <br /> pro rata share of capacity. It is further understood and agreed <br /> by the parties that in the event a party needs to construct <br /> Regional facilities in advance of the schedule as set forth in <br /> the Service Plan for joint participation by the parties in the <br /> construction of Regional facilities, the party needing the <br /> additional Regional facilities may construct such facilities at <br /> its expense. Before commencing such construction, such party <br /> shall first send written notice of its intent to all other <br /> parties by certified mail, return receipt requested, to allow <br /> other parties to participate in the advance construction. Should <br /> any party elect within forty-five ( 45) days of such notice to <br /> participate in advance construction, that party shall give <br /> written notice by certified mail, return receipt requested, to <br /> the party electing to commence construction and shall have an <br /> additional forty-five (45) days to post with the party commencing <br /> construction cash or an irrevocable letter of credit from a Texas <br /> financial institution for its pro rata share of the costs of the <br /> Regional facilities. Should no party contact in writing the <br /> -6- <br />