C150352 Intergovernmental Agreement

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"Service Area"means the area shown on Exhibit"A"hereto. "State" means the State of Colorado. "Stormwater Service Fee" means a recurring, monthly or quarterly fee charged to all customers of the Authority upon the basis of such customers' relative contributions to storm flows on a continuing basis, and applied to Operation and Maintenance and debt service requirements of the Authority. "System Development Fee"means a one-time charge imposed upon rezoning of property or the issuance of a building permit with respect to property in the Service Area, for the purpose of recovering a reasonable portion of the Authority's existing or future capital investment in the Project Improvements. "TABOR"means Article X, Section 20 of the Constitution of the State. "Town" means the Town of Wellington,Colorado. ARTICLE II CREATION AND GOVERNANCE OF THE AUTHORITY Section 2.01. Creation of Authority. The City, the Town and the County, by this Agreement, hereby establish the Authority as a drainage authority pursuant to C.R.S. § 29-1- 204.2(2). The Authority shall exist until dissolved or terminated in accordance with this Agreement. Section 2.02. Name and Service Area. The Authority shall be known as the Boxelder Basin Regional Stormwater Authority and the Authority shall carry out the Responsibilities set forth in this Article The initial Service Area of the Authority shall include those portions of the Service Area in the City, the Town or the unincorporated areas of the County as of the date of t is Agreement, as shown and described on Exhibit"A",which is attached to and made of part of this Agreement. . Section 2.03. Board of Directors. The Authority shall be governed by a board of directors consisting of five (5) members (the"Directors"), consisting of one each selected by the City, the Town and the County, and two unaffiliated members, representing the public at large, one selected by the City and the County upon mutual agreement and one by the town and County upon mutual agreement. No more than one of such unaffiliated members shall be employed by or an elected official of any Member. Each director shall serve a three (3)year term, with terms staggered and expiring on the 1st day of April or as soon thereafter as the successor director is approved. The staggered terms of Directors shall expire each three (3) years with the first Directors' terms expiring as follows: The Town-appointed director — 2009; City-appointed director and County/Town-appointed director — 2010; County-appointed director and 5