Minutes 01/22/1974 - Laserfiche WebLink

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.) ..~ ~..I ~,_, TUESDAY JANUARY 22, 1974 ".- portion of the improvement. When such need occurs, the remalnlng party shall have the right to proportionately acquire the withdrawn party's obligation in the improvement on the basis of respective percentages of financial obligation, as previously described, and, at that time, also, the party which vacated the improvement shall have the right to sell its obligation. The value to be placed on the improvement shall be the replacement cost less depreciation. Depreciation shall be calculated on the basis of forth years life. ...-- H. Each party to the contract shall be permitted the use of all future capital improvements, including interceptors and sewage treatment facilities, to the extent of their excess and available capacities, although one party may have initially refused participation and may not have been considered in the design and construction of the facilities. Each party agrees and covenants that such permission shall be granted until such times as the excess capacity is required for use by the party for which the facility was designed. A notice of not less than eighteen months shall be given to the party using the excess capacity at which time this party will make the necessary arrangements for discontinuing the use of the facility and shall provide for other methods consistent with the objectives, intent and provisions of this contract of disposal of its sewage contributions. During the period of such temporary usage, the party using the excess capacity shall agree to the payment to the other party, on a pro rata determination based on usage to total actual usage, of an amount being the total of the annual cost of operation and maintenance plus actual debt service or in the absence thereof, the local share of the project cost as if amortized for twenty (20) years at the rate generally obtainable for bonds at that time. The party for which the facility was designed, financed and constructed shall retain full ownership of the same. I. Every effort shall be made by each party to avoid unnecessary expense by either altering direction of flows through existing interceptors with available capacity or by providing temporary facilities. In this manner undue burdens on other parties can be delayed until the need arises for a major improvement which would benefit both parties. Where an improvement of joint use and/or participation by the parties hereto is proposed, anticipated or needed, the party, which would join in use, shall submit to the party, which would finance and own the improvement, data and information to support the joining party's requested design capacity. J. Should the party which owns any or all improvements in accordance with the applicable sections of this contract, which improvements are located within its political boundaries, terminate the contract, it shall be the terminating party's responsibility to assume all financial obligations of the other party to the contract relating to said improvements upon the effective date of contract termination as hereinbefore described. ,,- K. Should either party terminate this contract and the party participated in the financing of one or more improvements owned by the other party, the terminating party shall continue its obligation of debt service, as to principal and interest, on the one or more improvements until such debt is satisfied and free or until such time as the other party desires to acquire the improvement or improvements, in which case the acquisition conditions of Paragraph IX. G, supra, herein, shall apply. X. STUDIES AND EVALUATIONS: The parties hereto agree to participate in a study or studies, the scope of which shall be later determined by mutual agreement, as to organizational or institutional arrangements as would effect, to the benefit of both parties, the most satisfactory provision of and for the joint use interception, transmission and treatment of wastes from the jurisdictional areas of