1987-11-09 Regular Meeting - Laserfiche WebLink

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e e ~ the Participants through the year 1994; and (b) (i) to purchase and con- struct the Water pumping, transmission, distribution, metering and all other related facili ties necessary to transport potable surface ~vater from the Southeast Plant to the Authori ty and the Water Distribution Systems of the Participants, including the City; and (ii) to issue, sell and deliver its revenue bonds in an aggregate principal amount sufficient to pay in full (x) the costs of acquiring the Authority's share of the Southeast Plant, the Transmission System and the Distribution System and (y) other related costs including the cost of issuing such bonds; WHEREAS, the Authori ty has heretofore entered into or will enter into Contracts for the Supply of Potable \\later and the Construction, Financing and Operation of Water Transmission and Distribution Facilities with all of the Participants other than the City and all such Contracts and this Contract (collectively, the "Water Sales Contracts") will be substantially the same in all material respects in their terms, condi tions and provisions; WHEREAS, in order to comply with the rules and regulations of the Subsidence District at the earliest feasible date, the City desires to purchase 1vater from the Authority on the terms and conditions herein set forth and the Authority is willing to sell Water to the City upon the same terms and conditions; and WHEREAS, the Authority and the City are authorized to enter into this Contract pursuant to the Act, V.A.T.C.S. Article 4413 (32c), and other applicable laws; NOW, THEREFORE, in consideration of the mutual premlses and covenants and agreements herein contained, the Authority and the City hereby agree as follows: -3-