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C150317 application
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C150317 application
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Entry Properties
Last modified
1/22/2015 9:59:04 AM
Creation date
6/10/2011 11:55:09 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
CT2015-013
C150317
Contractor Name
Lake Durango Water Authority
Contract Type
Loan
County
La Plata
Loan Projects - Doc Type
Application
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Member. Such document sha11 incorporate by reference the provisions of this agreement and any <br />changes to the agreement required for the addition of the New Member. <br />Section 5.2. Withdrawal of DW 1 or DW2 as a Member. DW 1 and DW2 may withdraw from <br />the Authority by giving not less than two (2) years notice of its election to withdraw, which <br />withdrawal sha11 be effective as of the end of the second succeeding calendar year. Such <br />withdrawal may be for any reason and need not be for cause. The Authority sha11 continue to <br />provide services for the withdrawing Member comparable to the services the withdrawing <br />Member was receiving immediately prior to its notice of withdrawal, and the withdrawing <br />Member shall continue to have all rights and obligations under this IGA until the effective date <br />of the withdrawal. The withdrawing Member sha11 continue to pay its prorata. shaze of the <br />acquisition costs and its prorata share of any indebtedness of by Authority. Such payments may <br />be made by lump sum on or before the effective date of withdrawal or by recurring periodic <br />minimum payments. The withdrawal from this Agreement sha11 not result in a termination of the <br />Authority unless otherwise agreed to by the remaining Members. <br />Section 5.3. Withdrawal of La Plata County as a Member. The Members hereby <br />acknowledge that La Plata County is not a Member receiving services from the Authority. <br />Accordingly, La Plata County may withdraw from the Authority by giving one hundred eighty <br />(180) days' notice of its election to withdraw, which withdrawal will be effective as of the one <br />hundred eighty-first (181�) day following notice. Such withdrawal by the County may be for <br />any reason. The remaining Members do not need to consent to the withdrawal of La Plata <br />County. The withdrawal of La Plata County sha11 not alter the continuing responsibilities of the <br />County for appointing certain Directors as set forth herein and such obligation sha11 survive the <br />County's withdrawal. The withdrawal of La Plata County from this Agreement sha11 not result in <br />a termination of the Authority unless otherwise agreed to by the remaining Members. <br />Section 5.4. Termination. This Agreement may be terminated at any time by written <br />agreement of the Members. Upon termination of this Agreement, the Members sha11 cooperate <br />in a good faith and timely manner to transfer assets so that one or more of the Members or a new <br />entity may continue to.provide adequate water service to a11 of the Authority's customers without <br />a lapse or significant reduction in the provision of such. <br />-12- <br />
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