Title
RESOLUTION APPROVING FIRST AMENDMENT TO AGREEMENT BETWEEN NORTHERN INFRASTRUCTURE GENERAL IMPROVEMENT DISTRICT AND SOUTH ADAMS COUNTY WATER AND SANITATION DISTRICT AND ITS ENTERPRISE FOR THE PURPOSE OF CONSTRUCTION, INSTALLATION AND MAINTENANCE OF WATER LINES, WASTEWATER LINES, ACCESSORIES AND APPURTENANCES THERETO
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Summary and Background Information:
• On August 18, 1997 the NIGID entered into an Agreement between the NIGID and South Adams County Water & Sanitation District regarding construction, installation and maintenance of water and wastewater lines.
• The Agreement provision requiring property to join the NIGID needs to be amended due to the establishment of the ECAGID.
• The Agreement provision regarding the date for the transfer of the water and wastewater lines from the NIGID to SACWSD needs to be changed to reflect the calculated maturity date of the bonds issued to fund the water and wastewater lines, if the road improvement bonds had not been issued. This change has been discussed with the bond attorney, financial advisor, outside auditors, bond rating agency and the bond underwriter and appears to not cause problems.
• The Agreement required that the SACWSD Board be consulted regarding the continuation of the NIGID once the bonds for the water and wastewater lines were retired and that is no longer appropriate since the voters authorized the expansion of the NIGID to also include road improvements and subsequently the NIGID issued bonds to improve 104th Avenue.
This resolution approves and authorizes the amendment to the Agreement.
Staff Responsible (Department Head): Roger Tinklenberg
Staff Member Presenting: Roger Tinklenberg
Financial Impact:
None.
Funding Source:
N.A.
Suggested Motion:
I move to approve Resolution 2013-03.