93-68. Regional Water Line Project; Binding Arbitration.

  1. Upon a determination by the Utilities Director and the Authority Director of projected regional water line costs and the projected regional water line revenues, the Utilities Director shall confirm them in writing to the Authority Director. Provisions contained in Subsection 4.2 and Sections VI, VII, VIII, IX, and X of the Regional Water Agreement shall control the regional water line project. Said Subsection 4.2 and Sections VI, VII, VIII, IX, and X of the Regional Water Agreement are hereby incorporated by reference as if fully set forth herein. Additionally, the following requirements shall apply:
    1. Additional payments required. Pursuant to the Regional Water Agreement, the Authority is required to contribute an amount equal to the projected regional water line revenue to be received over a 9 year period to the cost of the regional water line. If the projected regional water line revenues for the requested regional water line are insufficient to pay the projected regional water line costs, the applicant(s) shall be required to pay the difference to the County for payment to the Authority. Additionally, if at the end of a 9 year period after completion of the regional water line by the Authority, the actual net revenues received by the Authority are less than the actual regional water line cost, the applicant(s) shall be required to pay the difference to the County for payment to the Authority.
  2. Notwithstanding anything herein to the contrary, neither Subsection 4.2, Section IX, nor Section X of the Regional Water Agreement shall be made subject to binding arbitration. Binding arbitration as a means of dispute resolution is only limited to those provisions specifically referenced as being subject to binding arbitration in the Regional Water Agreement.