05-09-12 Regular Meeting of the La Porte Area Water Authority

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store untreated water but are not listed in Exhibit "I" as well as improvements, repairs, or expenses for items listed on Exhibit "I", for which the Managing Participant issues new debt. B. Section 3.4 of the Restated Agreement is amended to read as follows: 3.4.1 The Managing Participant shall submit for review to all Participants, not later than 60 days prior to the beginning of the Managing Participant's fiscal year, an estimated Annual Budget consisting of various departmental components that constitute the O&M expenditures. The components are described in greater detail in Exhibits "E", "E Pasadena" and "E LaPorte Area Water Authority" (see Restated Agreement). The estimated Plant production will also be provided, along with. the breakdown of the production per Participant. The estimated Annual ... Budget and the estimated Plant production will be used to calculate the annual estimated cost per thousand gallons for the ensuing fiscal year. The final Annual Budget will be submitted to the Participants when the Managing Participant's City Council approves its yearly budget. 3.4.2 A majority of Participants by weighted vote may object to any specific item of the Annual O&M Budget. However, if such item is necessary for regulatory compliance, health, safety or security, it shall be excluded from this provision and the Participants shall continue to make payments for such item as provided by the Annual O&M Budget presented by the Managing Participant (or such amended Budget acceptable to the Managing Participant and the majority of the Participants by weighted vote). If such item is not necessary for regulatory compliance, health, safety or security, the payment made for such item shall be the amount the Participants by majority weighted vote decide and shall continue while the Participants pursue dispute resolution procedures as described herein, ua muni eni crun nnr, 114