OCR Text |
Show (6) Payments by District In consideration of the use of works, and the transfer of title, as provided in subparagraphs (4) and (5) hereof, the District shall pay to the Authority an amount equal to one-half of the true cost of the San Diego Aqueduct as such true cost is fixed and defined in Article 3 of the Lease-Contract. Such payments shall be made in quarterly installments at the rate of $250,000 per year, without interest, commencing at the close of the first quarter following the time when the use of the northerly part of said aqueduct shall be made available to the District pursuant to subparagraph (5) hereof, and continuing until the aggregate payments shall equal one-half of the said true cost as so defined; provided, that such quarterly payments shall be made at least ten (10) days prior to the times, respectively, at which the Authority shall be obligated to pay quarterly installments of its annual obligation to the United States. In the event that the District, through no fault of its own, shall be permanently excluded from the use of that portion of the San Diego Aqueduct lying northerly of said point of delivery, by reason of cancellation or nullification of the said Lease-Contract, or otherwise, the District shall be under no obligation to continue payments hereunder. In the event that the District shall be temporarily excluded from, or interrupted in, its use of said part of the San Diego Aqueduct lying northerly of said point of delivery, as the result of any breach or failure of performance of said Lease-Contract on the part of the Authority or on the part of the City, the District, during the period of such exclusion or interruption, shall be under no obligation to make the periodic payments as |
Source |
Original book: [State of Arizona, complainant v. State of California, Palo Verde Irrigation District, Coachella Valley County Water District, Metropolitan Water District of Southern California, City of Los Angeles, California, City of San Diego, California, and County of San Diego, California, defendants, United States of America, State of Nevada, State of New Mexico, State of Utah, interveners] : California exhibits. |