Common Contracts
1 similar Purchase and Sale Agreement contracts
Re: Long-term Storage Credit Purchase and Sale Agreement with the Ak-Chin Indian CommunityPurchase and Sale Agreement • March 11th, 2021
On April 10, 2018, the AWBA and the Ak-Chin Indian Community (Ak-Chin) entered into a three-year Purchase and Sale Agreement for Long Term Storage Credits (“Original Agreement”). The Original Agreement allowed for an annual determination between the parties to purchase/sell up to 6,600 acre-feet of long-term storage credits (LTSCs) accrued in the Phoenix Active Management Area (AMA). On October 25, 2019, the AWBA and Ak-Chin entered into the First Amendment to the Purchase and Sale Agreement for Long Term Storage Credits (“First Amendment”). The First Amendment incorporated the Original Agreement and added the ability to purchase and sell up to 4,815 acre-feet of LTSCs accrued in the Tucson AMA. The annual purchase price per LTSC for each AMA is based on the water delivery and storage costs identified in the adopted Central Arizona Project (CAP) rate schedule for that year and includes a six percent adjustment to account for the five percent cut to the aquifer and one percent in losses
