2023-015 - Sewer Island Project - Laserfiche WebLink

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AGREEMENT 1. AUTHORITY. City of Santa Ana Agreement No.: D2201000 Project No.:C-06-8478-110 Page 1 of48 (a) The State Water Resources Control Board (State Water Board) is authorized, and implements its authority, to provide financial assistance under this Agreement pursuant to Section 13475 at seq. of the Water Code, and Resolution Nos. 2019-0064 and 2022-0040. (b) The Recipient is authorized to enter into this Installment Sale Agreement (Agreement) pursuant to Resolution No. 2019-029. 2. INTENTION (a) The Recipient desires to receive financial assistance for and undertake work required for the wastewater construction Project according to the terms and conditions set forth in this Agreement. (b) The State Water Board proposes to assist in providing financial assistance for eligible costs of the Project in the amount set forth in Exhibit B, according to the terms and conditions set forth in this Agreement, with the expectation that the Recipient shall repay all of the financial assistance to the State Water Board. (c) The Recipient intends to evidence its obligation to submit Payments to the State Water Board and secure its obligation with Net Revenues of Its wastewater enterprise, as set forth in Exhibit B, according to the terms and conditions set forth in this Agreement. (d) The Recipient intends to certify and evidence its compliance with the Tax Covenants set forth in Exhibit F. 3. AGREEMENT, TERM, DOCUMENTS INCORPORATED BY REFERENCE. In consideration of the mutual representations, covenants and agreements herein set forth, the State Water Board and the Recipient, each binding itself, its successors and assigns, do mutually promise, covenant, and agree to the terms, provisions, and conditions of this Agreement, (a) The Recipient hereby sells to the State Water Board and the State Water Board hereby purchases from the Recipient the Project. Simultaneously therewith, the Recipient hereby purchases from the State Water Board, and the State Water Board hereby sells to the Recipient, the Project in accordance with the provisions of this Agreement. All right, title, and interest in the Project shall immediately vest in the Recipient on the date of execution and delivery of this Agreement by both parties without further action on the part of the Recipient or the State Water Board. (b) Subject to the satisfaction of any condition precedent to this Agreement, this Agreement shall become effective upon the signature of both the Recipient and the State Water Board. Conditions precedent are not limited to the following: 1. The Recipient must deliver to the Division a resolution authorizing this Agreement. ii, The Recipient must deliver an opinion of general counsel satisfactory to the State Water Board's counsel dated on or after the date that the Recipient signs this Agreement. (c) Upon execution, the term of the Agreement shall begin on the Eligible Work Start Date and extend through the Final Payment Date. (d) This Agreement includes the following exhibits and attachments thereto CWSRP/DWSRF 2902022