05-050 - Cascade Water Alliance - Water System Operation

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TABLE OF CONTENTS ARTICLE1. AGREEMENT ..............................1 ARTICLE2. DEFINITIONS ..............................1 ARTICLE 3. FORMATION OF ENTITY; PURPOSE AND POWERS 7 Section3.1 Formation 7 Section3.2 Membership 7 Section 3.3 Conversion to Municipal Corporation Status 9 Section3.4 Purposes 9 Section3.5 Powers .............................10 ARTICLE 4. ORGANIZATION STRUCTURE; BOARD .............................11 Section 4.1 Composition, ByLaws and Meetings .............................11 Section 4.2 Powers of the Board .............................12 Section4.3 Voting .............................12 Section 4.4 Officers and Committees .............................12 Section 4.5 Executive Committee .............................13 Section 4.6 Staff, Consultants and Contractors .............................14 Section 4.7 Budget; Dues; Financial Management .............................14 ARTICLE 5. ASSET DEVELOPMENT AND SUPPLY COMMITMENT .............................15 Section 5.1 Property Acquisition, Ownership and Disposition .............................15 Section5.2 Supply Commitment .............................16 Section 5.2.1 Commitment to Members .............................16 Section 5.2.2 Additional Rules for Members Retaining Independent Supply .....................18 Section 5.2.3 Additional Rules for Source Exchange .............................19 Section 5.3 Financing of Assets 20 Section 5.3.1 Issuance of Bonds 20 Section 5.3.2 Pledge of Revenues 21 Section 5.3.3 Continuing Disclosure .............................23 Section 5.3.4 Preservation of Tax Exemption for Interest on the Bonds 23 Cascade Interlocal Contract Amended and Restated October 26, 2011