Res 153-91 9/17/1991RESOLUTION NO. /5134/j/
RESOLUTION TO APPROVE FOURTH AMENDMENT TO
WATER PURCHASE CONTRACT BETWEEN THE CITY OF
WICHITA FALLS AND THE CITY OF OLNEY
WHEREAS, the City of Wichita Falls and the City of Olney
entered into a Water Purchase Contract dated January 24, 1984,
and there have been three (3) amendments to the contract;
WHEREAS, Olney is seeking a loan from the Farmer's Home
Administration to finance the construction of the raw water
pipeline between Lake Kickapoo and the City of Olney, and some of
the provisions of the existing contract are not acceptable to the
Farmer's Home Administration;
WHEREAS, the parties to the Water Purchase Contract desire
the make a fourth amendment to such contract to extend the term
of the contract to 40 years and to extend the period of time in
which Olney must reconcile any breach of the contract to 120
days; and,
WHEREAS, the Council has examined the proposed fourth
amendment.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WICHITA FALLS, TEXAS, THAT:
The fourth amendment to the Water Purchase Contract between
the City of Wichita Falls and the City of Olney is hereby
approved, and the City Manager is authorized to execute the same
for the City of Wichita Falls.
PASSED AND APPROVED this the 17th ay Septemb- -
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M A Y O R
ATTEST:
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CITY CLERK