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WHEREAS, the Authority, in order to be approved for and to <br />receive an SRL, must be legally responsible for the operation of <br />the Operating Facilities; and <br /> <br /> WHEREAS, subject to the terms of the Tri-Party Agreement, as <br />modified by Concord and Cabarrus, but not Fieldcrest, in the <br />Settlement Agreement, and pending approval of the transfer of the <br />Operating Facilities by all appllcable federal and state regulatory <br />authority, the Authority, together with its constituent units of <br />local government, desires to operate and maintain the Operating <br />Facilities; <br /> <br /> NOW, THEREFORE, in consideration of mutual promises and <br />covenants contained herein, Concord and the Authority do hereby <br />agree as follows: <br /> <br /> AGREEMENT <br /> <br /> 1. 0perational Responsibility Transfer. As their interests <br />may appear, Concord and Cabarrus shall transfer responsibility for <br />the operation of the Operating Facilities to the Authority <br />effective on July 1, 1992 (the "Effective Date"). On and after the <br />Effective Date, operational responsibility for the Operating <br />Facilities shall include, but shall not be limited to, the <br />following: <br /> <br /> (a) Financial - Billing and collection of revenue for <br /> treatment services provided to Concord, Cabarrus County, <br /> the City of Kannapolis, the Town of Harrisburg, the Town <br /> of Mt. Pleasant, Fieldcrest-Cannon, Inc., and all other <br /> customers who receive sewer transportation, maintenance <br /> or treatment services from the Authority by or through <br /> <br /> <br />