C153351 Paid in Full Documents

• Contract/PO #: C153351
• Contractor Name: Town of Breckenridge
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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service is expected to be equal to or better than the service
currently provided by the District; and
WHEREAS, the District currently has outstanding bonded
indebtedness in the approximate amount of Three Million Five
Hundred Seventy Nine Thousand Eight Hundred Fifteen Dollars
($3,579,815) in the form of District's 1990 General Obligation
Bonds (including both "A" and "B" Interest Certificates) , together
with a loan from the Colorado Water Conservation Board, which
indebtedness the Town is willing to assume and pay as herein
provided in connection with the dissolution of the District and
the assumption of District services by the Town.
NOW, THEREFORE, the District and the Town agree as follows:
1. Review By Court; Effective Date. This Agreement is
subject to the review and approval of the District Court in and
for the County of Summit and State of Colorado in Civil Action No.
2487, and the executory provisions hereof are subject to approval
of the proposed dissolution at an election to be held by eligible
electors of the District. Therefore, the effective date of this
Agreement will be the date upon which the election results
approving the dissolution of the District are confirmed by Order
of the District Court pursuant to the provisions of Section 32-1-
707, C.R.S. , or 12:00 midnight on December 31, 1995, whichever is
later.
2. Conveyance of Property By District. District agrees to
convey to the Town by appropriate and properly executed documents
(i) all right, title and interest in and to all property owned by
the District, whether real or personal, including but not limited
to water mains, water service lines, curbstops, manholes, pumping
facilities, water treatment facilities, easements, rights of way,
water rights, ditch rights, (ii) any and all other real property
owned by the District, (iii) all facilities or equipment
appurtenant to the aforementioned property, real or personal, and
(iv) all other property of every description owned by the District
and used to provide water service to the inhabitants of the
District. The District agrees to provide to the Town, not less
than thirty (30) days before the effective date of dissolution, an
itemized list of all the assets of the District which will be
transferred to the Town in accordance with this Agreement. Such
conveyances will be made at least ten (10) days prior to the
effective date of dissolution of the District.
3. Assignment of Rights and Assumption of Obligations. As
of the effective date of dissolution the District will assign,
transfer and set over to the Town each and all of the District's
rights, privileges, authorities and powers provided in all of the
District's current contractual obligations related to the
provision of water service, and maintenance of the facilities
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