Res 1992-069 - Laserfiche WebLink

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72 AGREEMENT FOR FINANCIAL PARTICIPATION IN SURFACE WATER TREATMENT PLANT PROJECT Between the Edwards Underground Water District and City of san Marcos May 14, 1992 This Agreement is entered into by and between the Edwards Underground Water District (the "DISTRICT"), a political subdivision of the state of Texas, and City of San Marcos (" CITY"), a provider of water service and other utility services, which city is located within the boundaries of the DISTRICT. ARTICLE I - RECITALS 1.1. The CITY'S Surface Water Treatment Plant Project. The CITY and the DISTRICT recognize the importance of conserving the groundwater in the Edwards Aquifer (the "Aquifer"), which supplies nearly all the water used in the region, including the water delivered by the CITY to its customers. The DISTRICT and the CITY further recognize the importance of developing alternate sources of water for residents of the region in order to conserve Aquifer water. In the interest of conserving, the CITY has committed to the development and operation of a surface water treatment facility (the" Project") as such an alternate source. Upon completion of the Project, the CITY intends to treat surface water and provide such water for municipal and industrial purposes to the CITY'S customers within its service area within the boundaries of the District, thereby reducing demand upon the Aquifer by substituting such surface water for Aquifer water. The CITY has contracted with Guadalupe-Blanco River Authority ("GBRA"), pursuant to the terms of a water purchase contract dated October 10, 1989, to provide surface water to the CITY in the amount of 5,000 acre feet annually as the primary supply of surface water to be treated and delivered to the CITY'S customers in substitution fqr Aquifer water. A copy of such contract between the CITY and GBRA is attached hereto as Exhibit A. 1. 2. Request by the CITY. The CITY has submitted to the DISTRICT a request dated October 28, 1991 (the "Request"), a copy of which is attached hereto as Exhibit B, requesting financial participation by the DISTRICT in financing the costs of the Project. The costs of the Project include water acquisition costs. The DISTRICT has considered the Request and has determined to participate in the Project by providing funds in the approximate amount of the cost of surface water acquisition from GBRA during the first five (5) years of operation of the Project. 1.