Common Contracts
1 similar Joint Consolidation Agreement contracts
SUMMARY OF THE JOINT CONSOLIDATION AGREEMENTJoint Consolidation Agreement • June 8th, 2021
The Joint Consolidation Agreement is to be entered into by the Town of Moreau with Sewer District No.1; Sewer District No.1, Ext. No. 1; Sewer District No.1, Ext. 2; Sewer District No. 1, Ext. No. 3 (The Nest); Sewer District No. 1, Ext No. 3; Sewer District No. 1, Ext. No. 4; and Sewer District No. 1, Ext. No. 5; The Town will as of January 1, 2022, be consolidating this one sewer district and six sewer district extensions into one consolidated sewer district. All property of the one sewer district and the six sewer district extensions will be transferred to the consolidated sewer district and any liabilities paid from the consolidated sewer district balances. Any existing and future bonded indebtedness and any capital improvements of the consolidated sewer district will be paid for based upon the following formula: 90% of the annual debt service will be collected on the assessed value within the consolidated district ($3.63 per $1000 of assessed value for the first year), while the r
