Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />II. <br /> <br />PAYMENT <br /> <br />2.01 The sponsor agrees to sponsor the following schools in La Porte I.S.D., which had a total <br />1993-94 fifth grade enrollment of 324: <br /> <br />Lomax Elementary <br />Reid Elementary <br />Rizzuto Elementary <br /> <br />2.02 The Sponsor hereby agrees to pay to the Subsidence District, promptly upon receipt of <br />an invoice from the Subsidence District, the total amount due, which is equal to $28.00 per <br />student sponsored. The above payment shall provide sponsorship for the above listed school(s) <br />for one year. The amount of the invoice shall be calculated using the actual enrollment in the <br />named schools for each year of the Project. <br />2.03 The sponsor agrees to pay a similar amount, adjusted for the actual cost of the <br />sponsorship kit and the number of students sponsored, each year for the term of this Agreement. <br />2.04 This cost represents the sole monetary obligation of the Sponsor in exchange for and in <br />con~ideration of the Subsidence District's obligations hereunder. <br /> <br />III. <br /> <br />TERM AND TERMINATION <br /> <br />3.01 The term of this Agreement shall be from the effective date hereof until termination of <br />the Project, and shall be automatically renewed annually. This Agreement may be terminated <br />by either party by providing 90 days written notice. <br />3.02 The Certificates of Deposit in the Groundwater Bank shall be transferred to the custody of <br />the Sponsor at the end of each project year, and shall be honored by the District no longer than <br />40 years after the termination of this Agreement. <br /> <br />lnterlocal Agreement: Version 1.1 <br /> <br />Page 3 of 4 <br />