City Council Minutes 1992 07 06 - Laserfiche WebLink

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transmission and treatment" and then continue on with the wording "facilities shall be". It's solely a clarification to make it clear that Louisville will be the sole operator of both the water transmission and the treatment facilities under this agreement, even though the District may utilize the transmission facilities. The next change appears on page 10 at the recommendation of Louisville's Water Attorneys to clarify the language. In the third line of paragraph 7, which begins "Marshall Lake", we would strike the remainder of that line. Strike the next two lines. Strike through the word "Louisville" in the 4th line. The next change would be on page 13 in paragraph "b", 4th line from the bottom of paragraph 3, the line which begins "shares shall be the actual purchase price paid by District No. 1." Additional language shall be inserted as follows: "plus the costs associated with changing the use of owned shares from agricultural to municipal in an amount not to exceed $500.00 per owned share." This language is consistent with the language which appears with respect to the acquired shares towards the bottom of page 12. So, we're making the two purchases consistent. The last change would appear on page 19 in paragraph "J" at the very end of the paragraph and before the period add the phrase "except as provided herein", because there are various breaches of the agreement that could result in a termination. The one remaining issue relates to the Consumer Price Index. The agreement provides that there will be an annual adjustment of the rent of the quarterly payments to the City based on the Consumer Price Index, based on the purchasing price of the dollar. On pages $ and 9 there are paragraphs, which address what 12