Laserfiche WebLink
<br />l' (I. f <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />- 12 - <br /> <br />date, the District will continue in existence for the sole pur- <br />pose of the payment of its outstanding financial obligations and <br />to continue with such contracts as the city deems appropriate, <br />with the city council serving as the board of directors of the <br />District pursuant to C.R.S. 32-1-707, and it will be dissolved <br />when its outstanding financial obligations are fully satisfied. <br />On and after the annexation date, the District shall take no <br />actions nor shall it incur any debts or other obligations except <br />those actions, obligations, or debts required to comply with this <br />Plan and Agreement, with applicable law, and with any appropriate <br />orders entered by the District Court in the dissolution action. <br /> <br />K. Miscellaneous. <br /> <br />1. Taxes, standby fees and other debt and <br />obligations owed to the District as of the annexation date will <br />not be affected by this Plan and Agreement, the filing of a peti- <br />tion for dissolution by the District, the entry of a dissolution <br />order by the District court, the approval of this Plan and Agree- <br />ment by the District's electors, or the annexation of the District <br />lands by the City. . <br /> <br />2. The City will provide errors and omissions and <br />general liability coverage for the District on and after the an- <br />nexation date, on the same basis and subject to the same condi- <br />tions, exclusions, and terms provided by the City'S insurance, <br />which presently is offered through the Colorado Intergovernmental <br />Risk Sharing Agency. <br /> <br />3. For the purposes of this paragraph only, the <br />parties agree that this Plan and Agreement is entered into not <br />only for the benefit of the City and the District, but also for <br />the benefit of the present and future residents of the District. <br />Accordingly, the parties agree that the City'S duties and obliga- <br />tions under this Plan and Agreement may be enforced by any person <br />who is an elector of the District at the time such enforcement ac- <br />tion is commenced, provided such enforcement action is commenced <br />within the following time limits: <br /> <br />(a) At any time prior to the final dissolu- <br />tion of the District, as provided in Paragraph 3.J.,above, with <br />respect to an action commenced to enforce the provisions of Para- <br />graphs 3.A.3.c, 3.A.5.b, 3.C., 3.D., 3.E., 3.F., 3.J., 3.K.2., <br />and/or 3.K.4. <br /> <br />(b) At any time within five years after the <br />annexation date, with respect to any obligations or duties of the <br />city under this plan and Agreement other than those listed in the <br />preceding paragraph. <br /> <br />.:md <br />