06/08/1998 Council Packet - Laserfiche WebLink

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Contract No. C -3365 INFLOW/INFILTRATION CONTROL PROGRAM LOAN AGREEMENT BETWEEN THE METROPOLITAN COUNCIL AND CITY OF LINO LAKES THIS AGREEMENT is made and entered into by and between the Metropolitan Council (the "Council ") and the city of Lino Lakes (the "Lendee "), each acting by and through its duly authorized officers. WHEREAS, it is in the best interests of the Metropolitan Council and a benefit to the metropolitan area to reduce excess inflow and infiltration ( "I/I ") into local sewer systems which discharge into the Metropolitan Disposal System, in order to reduce costs, increase system capacity, and delay the necessity to undertake capital improvements; and WHEREAS, the Metropolitan Council has allocated funds to be used for loans to communities serviced by the Metropolitan Disposal System in order to fund projects for the elimination of excessive community inflow and infiltration into the local sewer systems; and WHEREAS, it is in the best interests of the Lendee to reduce inflow and infiltration into its local sewer system in order to increase capacity, reduce costs, and delay the necessity to undertake capital improvements; and WHEREAS, the Lendee is eligible to receive an Inflow/Infiltration Control Program Loan and has submitted an application for a such a loan; and WHEREAS, the Council has reviewed the application and desires to assist the Lendee by the award of an Inflow/Infiltration Control Program Loan. NOW, THEREFORE, the Council and Lendee agree as follows: L LENDEE PERFORMANCE OF LOAN PROJECT 1.01 Loan Project Activities. The Lendee agrees to perform and complete in a satisfactory and proper manner the project as described in the Lendee's application for loan assistance ("Loan Project "), incorporated in this agreement by reference, and in accordance with the terms and conditions of this agreement. Specifically, the Lendee agrees to perform the Loan Project described in Exhibit A, which is attached to and incorporated in this agreement. The Lendee may engage contractors to perform the Loan Project. However, the Lendee retains primary responsibility to the Council for performance of the Loan Project.