BC 1991 12 02 - Laserfiche WebLink

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388 facility within the 1500 foot radius for a period of 180 days from the expiration of the original moratorium except as follows: The Concord Board of Aldermen may grant an extension of the moratorium provided that Cabarrus County provides evidence that significant progress has been made toward the proposed extension in the original notice. Significant progress is deemed to mean acquisition of right-of-way, detailed plans and specifications for cons.truction of said facilities, permits to construct said facilities from appropriate state and federal agencies or actual beginning of construction of said facilities. NOTWITHSTANDING the foregoing, Concord and Cabarrus County acknowledge that the provisions of this paragraph shall become moot as to the Facilities and Infrastructure or additions thereto upon their having been leased or transferred to the Authority as set forth in Paragraphs 4 or 5(c). 7. Lease of Old South and Carolando Subdivision Water Lines and Water Rates: Within ninety (90) days of the execution of this Agreement, Cabarrus shall execute and enter into a lease with Concord of their respective right, title and interest, if any, in and to the Cabarrus County water system lines within the subdivisions known as Old South and Carolando, of which the construction cost was approximately Eight Hundred Forty-Four Thousand Nine Hundred and Ninety and No/100 Dollars ($844,990.00) and the approximate depreciated book value is Eight Hundred and Twenty-Four Thousand Four Hundred and Eighteen and No/100 Dollars ($824,418.00), upon the following terms and conditions: (a) The respective leases shall be for an initial term of seventeen (17) years for the yearly sum ofThirty-NineThousand Five Hundred and Eight and No/100 Dollars ($39,508.00), the remaining debt service on Three Hundred Ten Thousand One Hundred and Forty- Eight and No/100 Dollars ($310,148.00), of "water system" debt, with an option granted to Concord at the conclusion of the 17th year, to purchase the "water system" lines for the sum of One Dollar ($1.00); (b) The respective leases shall be on a "triple net" basis, i.e. Concord shall assume all expenses associated with the operation of the "water system", and shall indemnify and save Cabarrus from any liability associated with such operation and maintenance, excluding debt service and including, but not limited to, operational expenses and any costs associated with environmental compliance and/or liability for the "water system"; and (c) The respective leases for the "water system" shall be subject to and conditioned upon the approval of all required state and federal regulatory authorities, the "water system" bond covenants and the issuance of all permits or other documents required by law. 8. Treated Water Agreement Modifications. Upon execution of the leases of the Old South and Carolando water lines, set forth in Paragraph 7 herein, Paragraph 5 of the Treated Water Agreement is hereby amended to read as follows: 5. Treated Water Charge. For all treated water sold or delivered by Concord to Cabarrus or received by Cabarrus from Concord pursuant to this Agreement or otherwise, Concord shall charge Cabarrus no more than 1.2 times the production cost thereof. The production cost shall include only the expenses of operation and maintenance of the facility or facilities initiated by Concord for treating raw water and shall expressly exclude any and all capital costs for such facilities or debt service therefor (the "treated water charge"), provided that: (a) The treated water charge may increase or decrease due to increases or decreases in maintenance and operation costs for production only; (b) Concord shall notify Cabarrus of any change in the treated water charge on or before June 1 of any