Res84 9525 - Laserfiche WebLink

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D~S:djg-c 2/17/84 paragraph 3(d) of the City/Diamond Shamrock Agreement, the City hereby gives notice of its intention not to exercise its right and option to acquire the non-grant eligible capacity rights proposed to be sold pursuant to the Diamond Shamrock/CJICO Agreement. Said non-exercise of its option is made without prejudice of the City to exercise future such option rights, and does not constitute a waiver of any such rights except as to the non-grant eligible capacity proposed to be sold under said Diamond Shamrock/CJICO Agreement. 3. FINDINGS. This Council hereby finds and declares that, in the case of the sale pursuant to the Diamond Shamrock/CJICO Agreement, there is no reasonable likelihood within the foreseeable future that the capacity rights proposed to be sold thereunder will be necessary for the use of, or with respect to, the lands to which such capacity rights originally were allocated under the City/Diamond Shamrock Agreement in that Diamond Shamrock has constructed pre-treatment facilities, or will have constructed such facilities, prior to the Operative Date of Authority's Treatment Plant for the treatment of sewage emanating from Diamond's said lands prior to disposition of such sewage in the City's sanitary sewerage collection and transmission system; therefore, the amount of non-grant eligible capacity allocated to Diamond Shamrock's land under the Diamond Shamrock/City Agreement is no longer required in the amount specified in said Agreement and the reduction thereof by reason of sale and conveyance to CJICO of the amount specified in 3