Laserfiche WebLink
<br />paragraph A.14. below. The Contractor shall maintain <br />comprehensive general liability insurance covering the <br />management. operation. and maintenance of the project from the <br />time it accepts the constructed project as substantially <br />completed until it completes repayment to the State. in at <br />least the following amounts: <br /> <br />a. For any injury to one person in any single <br />occurrence. the sum of Five Hundred Thousand Dollars <br />($500.000). <br /> <br />b. For any injury to two or more persons in any <br />single occurrence. the sum of One Million Dollars <br />($1.000.000). <br /> <br />c. For any damage to property. the sum of Four <br />Hundred Thousand Dollars ($400.000) for each <br />occurrence. <br /> <br />Said general liability insurance shall name the State <br />as a co-insured. A copy of a certificate of said <br />liability insurance must be tiled with the State prior <br />to the start of the operation of the project system. <br />Such certificate shall be incorporated herein as part <br />of this contract. <br /> <br />8. Make the services of said project available within its <br />capacity to all qualified persons in the Contractor's service <br />area without discrimination as to race. color. religion. or <br />natural origin at reasonable charges (including assessments. <br />taxes. or fees), whether for one or more classes of service, in <br />accordance with a schedule of such charges formally adopted by <br />the Contractor through its shareholders. as may be modified <br />from time to time. The ioitial rate schedule must be approved <br />in writing by the State before any such charges are initially <br />assessed. Thereafter, the Contractor may. subject to the <br />approval of the State. make such modifications to the rate <br />schedule as the Contractor deems necessary to efficiently and <br />economically provide for the financial requirements of the <br />system. inClUding repayment of the State. as long as the rate <br />schedule remains reasonable and non-discriminatory. <br /> <br />9. Pursuant to its By-laws. adjust its operating coats and <br />service charges and seek from its shareholders sufficient <br />annual assessments from time to time as necessary. upon written <br />notice from the State. to provide sufficient funds for adequate <br />operation and maintenance. emergency repair services, <br />obsolescence reserves. and debt reserves. and to assure <br />repayment of the project loan to the State as provided herein. <br />Should the shareholders fail to set such assessments, the <br />Contractor shall establish adequate assessments for purposes of <br />this Contract pursuant to section 7-42-104(2). C.R.S. (1986). <br /> <br />10. Pursuant to its Articles of Incorporation and to its <br />By-laws. have its Board of Directors take all necessary actions <br />consistent therewith to adopt an order or resolution <br />authorizing the Contractor to contract this loan debt, and <br />authorizing the President and the Secretary-Treasurer to pay <br />the indebtedness. Such orders shall be attached hereto as <br />Exhibit A and included herein. The Contractor. through a <br />majority vote of its Board of Directors. shall also authorize <br />the Deed of Trust security interest required by the State in <br />paragraph A.14. below. Such authorization shall be attached <br />hereto and incorporated herein as Exhibit B. The Contractor. <br />through a majority vote of the shareholders shall also <br />authorize the Deed of Trust security interest required by the <br />State in paragraph A.l4. below, and shall approve the <br />contracting of this loan debt for the principal sum of <br />Sixty-Five Thousand Dollars ($65.000). its repayment by the <br />President and the Secretary-Treasurer. the levying and pledging <br /> <br />Page 2 ot li Pages <br />