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543
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<br /> (b) From January 1, 1990 to January 1, 1991, no less than 2 million
<br />gallons per day;
<br />
<br /> (c) From January 1, 1991 to January 1, 1992, no less than 2-1/2 million
<br />gallons, per day;
<br />
<br /> (d) From January 1, 1992 to January 1, 1993, no less than 3 million
<br />gallons per day;
<br />
<br /> (e) From January 1, 1993 to January 1, 1994, no less than 3-1/2 million
<br />gallons per day;
<br />
<br /> (f) From January 1, 1994 to January 1, 1995, no less than 4 million
<br />gallons per day; and
<br />
<br /> (g) From January 1, 1995 and thereafter, no less than 4-1/2 million
<br />gallons per day.
<br />
<br /> 4. Treated Water Rates. From the date of execution of this Agreement
<br />through December 31, 1988, CONCORD shall charge CABARRUS for treated water at
<br />the rate set forth in the 1988 Water Supply Agreement. Effective January 1,
<br />1989, CONCORD shall charge CABARRUS no more than the lowest treated water
<br />rate which it charges to any of its customers, including "bulk" customers;
<br />PROVIDED THAT the treated water charge to CABARRUS for the Floor Amount shall
<br />not exceed 75 cents per 1,000 gallons, which charge may be increased on July
<br />1 of any year after 1989 by an amount not to exceed the least of: (a) the
<br />prorata cost increase in the expense for the operation and maintenance of
<br />Hillgrove, including, but not limited to, the personnel, chemical and related
<br />treatment expenses therefor, but specifically excluding any and all overhead
<br />or other expense for the capital cost of Hillgrove, or any other portion of
<br />CONCORD's water or sewer system, whether direct or indirect, or amortized
<br />debt therefor or otherwise computed; (b) a percentage increase based upon the
<br />annual increase in the consumer price index as published; or (c) 75% of the
<br />lowest rate Concord charges any "bulk" or other customer.
<br />
<br />5. Effect of the 1988 Water Supply Agreement. Except as otherwise ratified
<br />herein, upon execution by CONCORD and CABARRUS, this Agreement shall cancel
<br />and supersede the 1988 Water Supply Agreement in its entirety.
<br />
<br /> 6. Residual Water Rights. CONCORD shall not sell or deliver all or any
<br />portion of the Floor Amount to any other customer of CONCORD without the
<br />prior written approval of CABARRUS (except on an emergency basis and then
<br />only for 72 hours or less), which approval shall not be unreasonably
<br />withheld; PROVIDED THAT prior to CABARRUS's approval, CONCORD shall provide
<br />information to CABARRUS with regard to such delivery of reserved treated
<br />water, including, but not limited to, the duration of the proposed contract,
<br />the amount of treated water to be sold, and the compensation, if any, to
<br />CABARRUS.
<br />
<br /> 7. Method of Amendment/Termination of A~reement. This Agreement may be
<br />amended or terminated only by a vote of the majority of the members of each
<br />of the respective governing boards of CONCORD and CABARRUS.
<br />
<br /> 8. Warranties. CONCORD and CABARRUS hereby warrant and represent that:
<br /> (a) Execution of this Agreement and full performance of its own
<br />obligations hereunder are fully authorized by law;
<br />
<br /> (b) Each has complied or will comply with all procedures necessary to
<br />render its execution of this Agreement and the performance of its obligations
<br />hereunder as valid, legal and binding acts of CONCORD or CABARRUS,
<br />respectively;
<br />
<br /> (c) Ail contracts for work to be done in connection with this Agreement
<br />will be performed in accordance with the laws and regulations to which
<br />CONCORD and CABARRUS are subject, expressly including, but not limited to,
<br />the public bidding laws of the State of North Carolina.
<br />
<br />
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