County considers exclusive water franchise agreement

UTILITIES

Initial 10-year term from Effective Date, with option for additional 10-year extension and potential further extensions

Initial 10-year term from Effective Date; County may extend for an additional 10 years (First Extension Term) with notice at least six months before expiry, and parties may negotiate further extensions. If not extended or if no purchase terms are agreed, the agreement continues until either party gives six months’ written notice of termination. County may elect to purchase certain distribution assets at original capital cost less recovered depreciation if the agreement is not extended.

Agenda