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AG 1998 06 15
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AG 1998 06 15
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3/25/2002 6:06:43 PM
Creation date
11/27/2017 11:51:52 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
6/15/1998
Board
Board of Commissioners
Meeting Type
Regular
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reasonable times by a Political Subdivision through its duly authorized agents. WSACC shall <br />cause an annual audit of its books and records to be made by an independent certified public <br />accountant at the end of each fiscal year and a certified copy thereof to be filed promptly with the <br />governing body of each Political Subdivision. <br /> <br /> Section4.2. Remedies and Limitations. The parties hereto shall execute all <br />instruments and take all such actions as are required and appropriate to effectuate this Agreement <br />and the express intention or purpose hereof. If either party should breach this Agreement, then <br />the other party may, at its election or discretion, enforce its rights in a civil action for specific <br />performance or damages. Cancellation, termination or rescission of this Agreement shall not be <br />a remedy for either party hereunder. If either party should elect to waive any right or claim <br />arising under this Agreement, such waiver shall not be deemed a waiver of any other right or <br />claim provided for herein. <br /> <br /> Section 4.3. Binding Obligation. The parties represent and warrant that they have <br />taken all actions and obtained all authorizations, consents and approvals as are.a condition <br />precedent to their authority to execute this Agreement and that this Agreement constitutes a valid <br />and binding obligation on their parts. Furthermore, in the event that for any reason the <br />conditions precedent to a party's authority to execute this Agreement have not been <br />accomplished in accordance with statutory requirements or other requirements, then the parties <br />agree that they will undertake whatever actions are necessary to fulfill the conditions precedent <br />so that this Agreement will be binding on both parties, <br /> <br /> Section 4.4. Amendment or Supplement of Agreement. This Agreement may be <br />amended or supplemented only by an agreement in writing executed in the same manner as this <br />Agreement and approved by a vote of the majority of the members of each of the'respective <br />governing bodies of Cabarrus and WSACC. Subject to the provisions of the Bond Order, this <br />Agreement may be amended or supplemented to provide for, among other matters, the transfer <br />by Cabarrus to WSACC of additional responsibilities with respect to sewage or water services <br />provided by Cabarrus and the undertaking of such responsibilities by WSACC as a part of its <br />water and sewer system, which transfer may include a transfer of ownership of the related <br />facilities. <br /> <br /> Section4.5. Costs. WSACC will bear all costs, expenses and attorneys' fees <br />associated with this Agreement. <br /> <br /> Section 4.6 Additional A~reements. The Bond Order authorizes the issuance of water <br />and sewer system revenue notes and bonds of WSACC secured by the revenues of a combined <br />water and sewer system of WSACC of' which the Sewer Facilities are a part. Accordingly, any <br />additional agreement to be entered into by WSACC and any Political Subdivision or other person <br />for sewage service or water service to be provided to it by WSACC through such system or some <br />other use by it of such system shall also be subject to the applicable provisions of the Bond <br />Order. In addition, any such additional agreement may not adversely affect the rating on such <br />notes or bonds of any rating agency then rating such notes or bonds. <br /> <br /> <br />
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