09-23-1987 Meeting - Laserfiche WebLink

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In the event that the Houston Director"s estimates have been larger than Actual Construction Costs resulting in an overpayment by the Authority of its pro rata share, Houston shall refund such difference to the Authority on or before the expiration of ninety (90) days of date of the receipt of the accounting by the Authority. In the event that the Houston Director"s estimates have been less than Actual Construction Costs which has resulted in an underpayment by the Authority of its pro rata share, the Authority shall pay such difference to Houston on or before the expiration of ninety (90) days of the date of the receipt of the accounting by the Authority. 2.05 Completion of the Project When the Project is completed and has been accepted by the Houston City Council, Houston shall notify the Authority Director and designate a day upon which initial operation of the Project is to begin. Houston shall provide the Authority with full access to the • Project and to the books and records of the Project including all engineering reports, design specifications, change orders, correspondence, plant accounts, construction plan accounts or any other written document or instrument associated with or pertaining to the .construction of.the project. ARTICLE III • -.;___ OPERATION AND MAINTENANCE OF THE PROJECT .,,~ -n. ~ .._ _ _ 3-v1 In General (i) Houston and the Authority as co-owners of the Project, understand that, except in areas otherwise specified herein, Houston will serve as managing owner of the construction phase of the Project and of the maintenance and operation thereafter and shall have charge of its business and general conduct. (ii) The Authority shall have an interest in the conduct, affairs and decisions of the Project in proportion to its capital contribution. The Authority shall have the authority to enter the Project premises. 10