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<br />~ <br /> <br />DISSOLUTION AGREEMENT <br /> <br />Th.>> Dissolution Agreement ("Ag~eemeIlt") is made and entered into this /S~./( <br />day of #n 1f#I'7- , 2007 by and between the S1. Vrain Sanitation District (hereinafter <br />referred to ~ "St. Vrain") and the Weld County Tn-Area Sanitation District (hereinafter <br />referred to as "Tri-Area") and jointly referred to herein as the "Parties." <br /> <br />1. Declarations <br /> <br />1.1 General. St. Vrain and Tri-Area are quasi-municipal corporations and <br />political subdivisions of ihe State of Colorado organized pursuant to Part 1, Article 1, <br />Title 32, C.R.S., and have the powers, duties and responsibilities, and are subject to the <br />conditions and limitations, provided in said law and in the Constitution and laws of the <br />State of Colorado. <br /> <br />1.2 Purpose. The primary purpose of this Agreement is to set forth a procedure <br />whereby the duties, functions and liabilities of Tri-Area may be transferred to St. Vrain in <br />a manner that assures the continuation of equivalent service and responsible <br />administration and maintenance of facilities, and whereby Tri-Area is dissolved, as <br />defined under Colorado law, and the area within its boundaries is included. as defined <br />under Coiorado law, V\.'ithin the boundaries of St. Vrain. If for any reason Tri-Area is not <br />dissolved, an alternate and secondary purpose of this Agreement is to set forth the terms <br />and conditions pursuant to which St. Vrain will provi~e total wastewater service to Tri- <br />Area's customers and the area located within its boundaries, as the same now exists or <br />may hereafter be amended from time to time. <br /> <br />1.3 COlltineency. To the extent the effectuation of obligation or duty set forth in <br />this Agreement requires further approval through judicial and electoral processes, under <br />the provisions of Part 7, Article 1 of Title 32 and Part 4, Article 1 of Title 32, C.RS., it is <br />contingent upon obtaining such approvals. <br /> <br />1.4 Effect of Contin!!ency. Except for Sections 2.1.5 and 6 hereof, this <br />Agreement shan be void and of no effect if: <br /> <br />9 <br /> <br />(a) The electors ofTri-Area do not vote "Yes" on both the question of <br />the dissolution ofTri-Area and on the question of the inclusion of all property <br />within Tri-Area's boundaries into the boundaries of St. Vrain, or <br /> <br />(b) If for any other reason the Weld County District Court ("District <br />Court'~) fails or refuses to issue an Order of Dissolution and an Order oflnclusion. <br /> <br />O:\C!icn:s\Welc Co Tn-Area S::.:\Agreemer.ls\DlSSOL;JTlCN <br />ABreeme'~t-SI. Vrnin 4-iS-:l"l {TlF vS S-7-07).do;: <br />