BC 1991 12 02 - Laserfiche WebLink

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389 calendar year for imposition effective July 1 of any calendar year; (c) Concord shall bill Cabarrus in accordance with its established billing cycle based upon readings from metering stations heretofore or hereafter installed. Cabarrus shall pay said bills within thirty (30) days of receipt. Upon failure of payment, Concord may discontinue supplying treated water upon ten (10) days written notice to Cabarrus; (d) Concord shall maintain complete and accurate records of flow from all metering points, if any. At all times, Cabarrus shall have access to such flow measurement facilities for the purpose of review of the accuracy of reading therefrom; and (e) Concord shall maintain complete and accurate records of the production costs for treated water. At all times, Cabarrus shall have access to such records for the purpose of review of their accuracy. 9. Adding Coddle Creek Reservoir to the Authority. Cabarrus agrees to convey the Coddle Creek Reservoir and its half ownership in the Black Run Creek Reservoir to the "Authority" at such time as the Authority undertakes to produce raw and treated water and to distribute water on a wholesale basis, and each jurisdiction belonging to the Authority leases or transfers to the Authority its facilities for the production and distribution of raw and treated water, to include, but not be limited to, the Hillgrove Treatment Plant, the Kannapolis Water Treatment Plant, the Mount Pleasant Treatment Plan, associated water tanks, pump stations and mains, Coddle Creek Reservoir, Black Run Creek Reservoir, Lake Concord, Lake Fisher, Kannapolis Lake and the Second Creek Reservoir Project land. 10. Situs of Agreement. This Agreement is entered into in the State of North Garolina and shall be construed and interpreted in accordance with the laws of the State of North Carolina. 11. Remedies and Limitations. The parties hereto shall execute all instruments and take all such actions as are required and appropriate to effectuate this Agreement and the express intention or purpose hereof. If either party should breach this Agreement, then the other party may, at its election or discretion, enforce its rights in (a) a civil action for specific performance or (b) for damages. Cancellation, termination or rescission of this Agreement shall not be a remedy for either party hereunder. If either party should elect to waive any right or claim arising under this Agreement, such waiver shall not be deemed a waiver of any other right or claim provided for herein. 12. Binding Obligation. The parties further represent and Warrant that they have taken all actions and obtained all authorizations, consents, and approvals as are a condition precedent to their authority to execute this Settlement Agreement and that this Agreement constitutes a valid and binding obligation on their part. Furthermore, in the event that for any reason the conditions precedent to a party's authority to execute this Agreement have not been accomplished in accordance with statutory requirements or other requirements, then the parties agree that they will undertake whatever actions are necessary to fulfill the conditions precedent so that this Agreement will be binding on all parties. IN WITNESS WHEREOF, Concord and Cabarrus County have executed this Agreement the day and year first above written. ATTEST: CITY OF CONCORD, a Municipal Corporation By: Bernie A. Edwards, Mayor Vickie C. Weant, City Clerk Approved as to Form City Attorney This instrument has been pre- audited in the manner required by the Local Government Budget and Fiscal Control Act.