Res 2020-225/approving an interlocal agreement with the Canyon Regional Water Authority for the treatment and transmission of water from the Canyon Regional Water Authority Hays-Caldwell Water Treatment Plant

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WHEREAS, the anticipated upgrade and expansion of the Original Project, being the 2020 Project, will cost approximately $17,500,000 and will necessitate that the Authority issue approximately $12,355,000 in tax-exempt, new money contract revenue bonds (the "Series 2021 Bonds"); and WHEREAS, the City is requesting to purchase a right to use the hereinafter defined System, including the 2020 Project, to purchase treated water from the Authority; and WHEREAS, to memorialize the terms pursuant to which the 2020 Project is financed by the Authority through participation in the 2020 Project by the Participating Members and the purchase of rights to the 2020 Project by the City after taking into effect the City's purchase of capacity rights in the System, the Parties hereto now desire to enter into this Amended and Restated Contract; and WHEREAS, the Authority recognizes that the Contracting Parties continue to hold and possess the material portions of their respective Certificates of Convenience and Necessity issued by the Commission, and continue to own and operate the material portions of their respective water pumping, storage, distribution, facilities, and any respective water treatment facilities currently owned by each of the Contracting Parties; and WHEREAS, this Amended and Restated Contract shall constitute an interlocal cooperative agreement as authorized pursuant to the Interlocal Cooperation Act; and WHEREAS, the adoption of this Amended and Restated Contract is hereby found and determined to be in the best interest of the Authority, its customers, the Participating Members, the City and their respective residents and customers; NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and subject to the terms and conditions hereinafter set forth, the Authority and each of the Contracting Parties agree and contract as follows: ARTICLE I Definitions Section 1.01. Definitions. The following terms and expressions as used in this Amended and Restated Contract, unless the context clearly shows otherwise, shall have the following meanings: "2020 Project" means the costs to finance, refinance, acquire, and construct treatment facilities, water supply pipelines, booster pumps, other appurtenances, and necessary easements and other interests in land, including water rights acquisitions, including all Project Costs, to expand the Original Project from a capacity of 2,908 acre feet to an increased capacity of 4,468 acre-feet as further described in Exhibit A attached hereto. 100585362.23 -3 -