PROJ00418 - Laserfiche WebLink

Home Browse Search

the financial requirements of the system as long as the rate schedule remains reasonable ..and non-discrimip.atory, and subject to appro)Tal by the State; , 5. Adjust'its operating costs and service, charges from time to time to .provide. for adequate ope'ration and maintenance; . emergency repair services, :obsolescence. reserves, debt service and debt.servi~e reserves. 6, Expand the system from time to time to meet reasonable growth or .servic.e requirements in the area within. -its juris- dic tion. ' 7. Provide the State with' such periodic reports as it may require and permit periodic inspection of its operations and accounts by a designated representative of the, State. The . Colorado Water Conservation Board, its agents and employees, is hereby designated as the agent of the, State for the purposes, of. this contrac-t. .. B. The State agrees that it will: 1. Make available to the Contractor for, the purpose of this contract the sum of Sixty Thousand Dollars ($60,000); Said 'Sixty Thousand Dollars ($60,000) shall be made available to the Contractor in accordance with 'the following terms, schedule and conditions: ' a. Begirining with the monthly period commencing April 1, 1977 and for every month thereafter until 'said project has been completed, 'Contractor shall prepare an estimate qf the funds required from. the State for ,project con-. . struction during that month and shall forward said estimate' to the State' not less than fifteen, (15) days prior to the beginning of such month. b. Upon receipt and approval by the State or such monthly estimate, the Sta'te will, within thirty (30) days from . ,the r.eceipt of such e5ti~te, pay over to the- Contractor the amount of the monthly estimate or such portion thereof as has been approved by the State. 2. Assist the .Contractor with such technical assistance as the State deems appropriate in planning, constFUcting and operating the project and coordinating the project with local official comprehe'nsive plans for sewer and water and with any state or area plans for the area in which the project is located. 3, In its sole discretion, the, State ,may at any time ,give any consent, deferment, subordination, release) satisfaction, or termination of any or all of Contractor1s obligations under this 'agreement, with. or witho.ut valuable consideration, upon such terms and ~onditions as the state may determine to be . (a) advisable to further the purposes of this contract or to protect the State's financial interest therein, and (b) con- sistent with both the statutory purposes.of this contract and, the limitations of the statutory authority under which it is made. -1 Page 2 of 4 pages