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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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Members and to fulfilling any and all conditions or requirements of this Agreement; except that <br />rates need not be uniform between the Authority and the contracting parties; <br />(xv) To provide for the rehabilitation of any surfaces adversely affected by the <br />construction of water pipelines, facilities, or systems through the rehabilitation of plant cover, <br />soil stability, and other measures appropriate to the subsequent beneficial use of such lands; <br />(xvi) To justly indemnify property owners or others affected for any losses or damages <br />incurred, including reasonable attorney fees, or that may subsequently be caused by or which <br />result from actions of such corporations. <br />(xvii) To do any and all other things necessary or desirable to establish and operate the <br />Water System for persons and property. It is the intent of the Members to extend maximum <br />power to the Authority, consistent with the IGA Act, to fulfill the purposes set forth in this <br />Agreement. � <br />c. The Authority is authorized to issue bonds, notes, or other obligations payable solely <br />from revenues derived from the function, service, system, or facility or the combined functions, <br />services, systems, or facilities of the Authority ar from any other available funds of the <br />Authority. The terms conditions and details of said bonds, notes and other obligations sha11 be in <br />accordance with the provisions of the IGA Act and all other applicable laws. The bonds, notes <br />and other obligations of the Authority shall not be the debts, liabilities, or obligations of the <br />Members. <br />III. GOVERNANCE OF THE AUTHORITY <br />Section 3.1. Board of Directors. The governing body of the Authority sha11 be a Board af <br />Directors (`Board") in which a11 legislative power of the Authority is vested. While it is <br />recognized that the Directors are appointed by the individual Members,. Directors individually <br />and the Board collectively shall act in accordance with their fiduciary duties to advanee the goals <br />and objectives of the Authority. <br />Section 3.2. Number and QualiScation of Directors. The initial number of Directors sha11 be <br />five (5). The number of Directors may be expanded if other public entities join the Water <br />Authority. <br />-5- <br />
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