Res 2009-114 - Laserfiche WebLink

Home Browse Search

the phasing of the Project or the capacity of each phase of the Project After the Agency • issues Bonds in connection with a phase of the construction of the Facilities any revision to the capacity of that phase of the Facilities will be limited by and subject to the terms and provisions of the Bonds issued for that phase of the Facilities (b) Subject to the remaining terms and provisions of this Contract, the Agency agrees to issue the Bonds and to acquire and construct the Project as generally described in the Engineering Report. It is estimated that the first phase of the Project will be placed in operation on or before December 31, 2018, or as soon thereafter as practicable. The Authorized Representative of the Agency hereby represents that he is not aware of any reason that the first phase of the Project, as contemplated, cannot be completed on or before December 31, 2018. It is expressly understood and agreed that any obligations on the part of the Agency to finance, acquire, construct, and complete the Project and to provide the water to the Sponsoring Public Entities shall be (i) conditioned upon the Agency's ability to obtain all necessary permits, Land Interests, material, labor, and equipment, and upon the ability of the Agency to finance the cost of the Project through the actual sale of the Bonds, including any Bonds needed to complete the Project, and (ii) subject to all present and future valid laws, orders, rules, and regulations of the United States of America, the State, and any regulatory body having jurisdiction. The Project shall be acquired and constructed by the Agency with all reasonable dispatch, and the Agency will diligently pursue such acquisition and construction in order that it may be completed as soon as practicable, delays incident to events of Force Majeure only excepted; but if for any reason there should be delays in or the entire failure of such acquisition, construction, and improvement, there shall be no diminution in or • postponement of the Annual Payment Amounts to be made by the Sponsoring Public Entities hereunder and no resulting liability on the part of the Agency; provided, however, that the Sponsoring Public Entities retain the right to pursue any legal remedy to the extent that delays in the Project are the result of negligence on the part of the Agency. (c) The provisions of this Article lI shall apply to each phase of the construction of the Facilities. 2. Section 2.15 of the Agreement is amended as follows (underlining indicates added text; evefstfike indicates deleted text): Section 2.15. Shares of Treated Water and Project Cost Quantity. The Sponsoring Public Entities' proportionate shares of the Project Costs and of the treated water produced by each phase of the Facilities constructed for the Project will be based on the capacity for each Sponsoring Public Entity out of the total Project capacity. The proportionate shares of Proiect Costs and treated water produced and the capacity or each Sponsoring Public Entity out of the total Project capacity. are i-,as follows: Sponsoring Public Entity Pxejeet Share of Project Costs and Treated Water Acre-feet/year out of Total Project Capacity City of Buda, Texas 5-444 5.08% 1,687 City of Kyle, Texas 20.58 28.17% 9,355 •