Title
Consider a resolution authorizing the Mayor to execute an Amendment to the Agreement with The Meadows at Chandler Creek Municipal Utility District.
Body
This is an Amendment to the Agreement between the City and the Meadows at Chandler Creek Municipal Utility District (MUD). The City and the MUD entered into an Agreement which was first executed by the Parties on May 10, 1984, and subsequently re-executed on June 26, 1986. The 1986 Agreement was effective from the date of execution for a period of 40 years, thereby expiring on June 26, 2026. The Parties subsequently entered into the First Supplement to the Agreement between the City and the MUD, which was executed by the parties on the September 23, 1991. The Parties now wish to extend the expiration date of the Agreement to December 31, 2026, in order to give both Parties additional time to negotiate the renewal of the Agreement. The expiration date of the Agreement is extended from June 26, 2026 to December 31, 2026.