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<br /> 69 <br /> STATE OF TEXAS - <br /> COUNTY OF HAYS <br /> STOCK PURCHASE AGREEMENT <br /> This Agreement is entered into by and between all shareholders and/or stock <br /> owners of Elim Water Company, Inc., a Texas corporation, owned and operated as a retail <br />, public water utility in Hays and Guadalupe Counties, Texas and the City of San Marcos, <br />I <br /> Texas, a home rule city and political subdivision of the State of Texas for the purchase of <br /> all currently outstanding corporate stock of Elim Water Company, Inc. <br /> Recitals . . <br /> 1. Elim Water Company, Inc. (hereinafter referred to as "Utility") is a iexas corporation <br /> and retail public water utility organized and operating under and pursuant to the laws of the <br /> State of Texas and is the owner of Texas Natural Resource Conse'rvation Commission <br /> ("TNRCC") Water Certificate of Convenience and Necessity ("CCN") No 11564 and certain <br /> real estate, water production, treatment, storage, transmission and distribution facilities, <br /> equipment and appurtenances used and useful in the provision of potable water service <br />r.~ to the public in Hays and Guadalupe Counties, Texas. --.. - - ._0 <br /> . ~ -- -- ~ <br /> 2. The City of San Marcos, Texas (hereinafter referred to "City" or "Purchaser") is a home <br /> rule city, municipal corporation and political subdivision of the State of Texas which owns <br /> and operates a municipal water system under the laws of the State of Texas and TNRCC <br /> Water CCN No.1 0298. <br /> 3. Ruth Ann Hoch is the president, secretary and treasurer and majority shareholder of <br /> the Utility. Other natural persons, a corporation, an estate and general partnerships listed <br /> in Exhibit "A", which Exhibit is attached hereto and incorporated by reference herein for all we- <br /> "" <br />