Res 2015-045/Loan forgiveness agreement with TWBD for Reclaimed Water System Expansion

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plan that complies with Texas Water Code §§ 11.1271 and 11.1272 and 31 TAC §§ 363.15 and 375.43. 5.08. WATER AUDIT. If the City is a retail public utility as defined in Texas Water Code § 13.002 and the City provides potable water, then the City annually shall perform and file a water audit computing the City's most recent annual system water loss with the TWDB. The first water audit shall be submitted by May 0 following the passage of one year after the effective date of this Agreement and then by May 0 every year thereafter during the term of this Agreement. The City agrees to comply with 31 TAC § 358.6 relating to water audits. 5.09. REGISTRATION REOUIREMENT. Pursuant to the Federal Funding Accountability and Transparency Act of 2006, Pub. L. 109 -282, as amended by Pub. L. 110 -252, the City shall obtain a Data Universal Numbering System (DUNS) Number and shall maintain registration in the System for Award Management (SAM). 5.10. ANNUAL FINANCIAL AUDIT. During the Term of this Agreement, the City shall submit an annual audit of the general purpose financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP) by a certified public accountant or licensed public accountant. Audits shall be submitted to the TWDB no later than 180 (for cities) days after the close of the City's fiscal year. 5.11. INVESTMENT AND COLLATERALIZATION OF PUBLIC FUNDS. Loan proceeds are public funds and, as such, these proceeds shall be held at a designated state depository institution or other properly chartered and authorized institution in accordance with the Public Funds Investment Act, Government Code, Chapter 2256, and the Public Funds Collateral Act, Government Code, Chapter 2257. ARTICLE VI. NON - PERFORMANCE AND REMEDIES 6.01. STOP WORK ORDERS. A. Stop Work Order (SWO). The Executive Administrator may issue a written SWO to the City at any time for failure to comply with any provision of this Agreement. The SWO shall provide the City with notice of the facts supporting the determination to issue the SWO. The SWO may require cessation of work immediately or at a definite future date. The SWO shall provide the City with a specified time to cure. B. City's Response. The City shall provide a written response to the SWO and shall provide the Executive Administrator with a detailed plan to address and cure the conditions causing the SWO. The City shall provide the response within five business days from its receipt of the SWO. C. Executive Administrator's Reply. The Executive Administrator may accept, reject or amend the City's plan and shall provide notice of such action to the City within five business days of receipt of the plan. The Executive Administrator may issue an amended SWO that allows resumption of work contingent upon the City's execution of the plan to TWDB Contract No.LF1000351 Page 10 of 15 OGC -001 11/06/2014