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O-2006-2959
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O-2006-2959
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Last modified
11/2/2016 3:39:21 PM
Creation date
5/10/2008 12:38:50 PM
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Legislative Records
Legislative Type
Ordinance
Date
11/6/2006
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<br />200 MOD Project plus a five percent construction contingency of the bid cost plus other non- <br /> <br /> <br />construction cost items included in the definition of "200 MOD Project Cost." After bids for the <br /> <br /> <br />200 MOD Project are opened and read, the Managing Participant shall provide each Participant <br /> <br /> <br />an accounting and invoice for the payment, which shall be due within 90 days of the <br /> <br /> <br />Participant's receipt of such accounting. A summary of the investment dollars and Demand <br /> <br /> <br />Allocation purchased per Participant is shown on Exhibit "F". Payments for Plant Recoupment <br /> <br /> <br />Costs and Pumping and Distribution Recoupment Costs are firm as shown in Exhibit II. The <br /> <br /> <br />Managing Participant shall use diligent efforts to obtain bids for construction of the 200 MOD <br /> <br /> <br />Project after execution of this Amendment by all Participants. At such time as the Managing <br /> <br /> <br />Participant has secured sufficient financing for the 200 MOD Project from the Participants, it <br /> <br /> <br />will award the construction contract and complete the 200 MOD Project. If the Managing <br /> <br /> <br />Participant does not timely receive the funds necessary to construct the 200 MOD Project and the <br /> <br /> <br />Project is canceled, then the Managing Participant shall promptly refund all funds paid by the <br /> <br /> <br />Participants to the Managing Participant for the 200 MOD Project Costs, plus interest thereon <br /> <br />compounded quarterly at the Interest Rate. <br />ARTICLE III. <br />CONSTRUCTION <br /> <br />During all working hours of the construction period, a Participant Director and anyone <br /> <br />authorized by such Director shall have access to the Plant premises and may inspect or review <br /> <br />the Plant and all engineering specifications and documents related to the Plant. The Managing <br /> <br />Participant shall present any change order(s) in the design, specifications or construction of the <br /> <br />200 MOD Project that exceed(s), cumulatively, the five percent construction contingency to the <br /> <br />Operating Advisory Committee for prior written approval. Failure to do so will result in the <br /> <br />H:\EWB\SOUTHE.DOC <br /> <br />6 <br /> <br />9/19/2006 <br />
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