HomeMy Public PortalAboutCorrected payment scheduleWilliam M. Killen
Gregory C. Pittenger
Law Offices of
KILLEN AND PITTENGER, P.A.
200 East Park St.
P.O. Box A.O.
McCall, Idaho 83638 -
October 20, 1987
Bud Schmidt, Administrator
City of McCall
P. 0. Box 1065
McCall, Idaho 83638
Re: Fifth Amendment to Cooperative Agreement
between the City and Sewer District
Dear Bud:
Telephone: 634.7118
Area Code: 208
Enclosed please find and additional corrected schedule of
Section 2 at page 3 of the Fifth Amendment.
As you may recall we made a number of changes which included
slipping those dates because of the time frame in formally
adopting this. If you would review that page I think it
will be obvious that those columns are reversed; the first
column being labeled October 1 should be labeled April 1 and
the second column should be labeled October 1 instead of
April 1. This produces the desired effect, namely equal
semi-annual payments commencing the Spring of 1987 and
continuing thereafter for the full schedule.
I have enclosed a re -typed original and unless you feel some
problem with the foregoing we would simply request that you
insert that in lieu of the page you now have.
Best regards,
KILLEN & PITTENGER, P.A.
BY
William M. Killen of the firm
WMK/ch
encl. Page 3 of Fifth Amendment
cc: Ted Whiteman
iD-ZZ -T7
7 1261-.1..— CA17111,1 f,c ice_
SECTION_ 1: SALE OF TREATMENT CAPACITY: Pursuant
to said Fourth Amendment the present flow allocation di
the treatment facility capacity is as follows: The
District - 53% or 964,000 gallons per day; the City -
47% or 862,000 gallons per day. The District shall
sell to the City and the City shall purchase from the
District, 364,000 gallons per day of the District's
allocated capacity of the treatment facility. It is
the intent of the parties that such sale shall result
in a modified allocation of the treatment facilities
capacity as follows: The District - 33% or 600,000
gallons per day, the City - 67% or 1,226,000 gallons
per day.
SECTION 2: PURCHASE PRICE: The purchase price
for said capacity shall be the sum of $98,280.00,
payable in non -uniform sums as follows:
FISCAL APRIL 1 OCTOBER 1
YEAR , AMOUNT AMOUNT
== =----=--=- = i
987 $3,841.50 $3,841.50
988 4,420.50 4,420.50
989 4,385.00 4,385.00
990 4,477.50 4,477.50
991 4,599.00 4,599.00
992 4,628.00 4,628.00
993 4,647.00 4,647.00
994 4,676.00
4,676.00
995
4,674.50 4,674.50
996 4,758.50 4,758.50
997 4,825.00 4,825.00
998 5,304.00
5,304.00
999
4,744.50 4,744.50
2000 4,679.50 4,679.50
2001 4,509.00 4,509.00
2002 4,905.50 4,905.50
2003 2,147.00 2,147.00
2004 1,629.50 1,629.50
The above schedule includes interest in the principal
sum at the underlying bond rate being services by the
District.
FIFTH AMENDMENT - Page 3