For Settlement Discussions Only – Not Admissible For Any Purpose(e.g., ER408 & RCW5.60.070)
to reimburse prior City expenditures for the WWTP project from the sewer fundin an amount not to exceed Three Hundred Thousand Dollars ($300,000) forpurposes of restoring capital reserves in that fund.5.
Release of Claims.5.1.
The BRA releases the City from any and all claims, demands, causes of action,actions, rights, liabilities, contract obligations, damages, costs (including attorneyfees and other litigation costs), torts, suits, debts, sums of money, accountings,reckonings, bills, covenants, controversies, agreements, promises, variances,trespasses, extents, and executions whatsoever, at law or in equity or otherwise,whether direct or indirect, which the BRA either now owns or holds, or has at anytime heretofore owned or held, or may in the future own or hold, against the Cityrelating to the City’s issuance of Sewer System Obligations in an amount not toexceed $1.9 million, as described in Section 4, including refinancing orrestructuring of those Sewer System Obligations (e.g., to convert short-term notesto a long-term borrowing), as long as the Sewer System Obligations remainpayable only from sources as provided in Section 220.127.116.11.
This release shall not extend to any claims that arise out of this SettlementAgreement or out of any of the other documents executed or delivered pursuant tothis Settlement Agreement.5.3.
The BRA represents, warrants, and agrees: (i) that it understands it may bereleasing potentially unknown claims, (ii) that this release is fairly and knowinglymade, (iii) that it is aware it has limited knowledge with respect to the releasedclaims, and (iv) it specifically allocates to itself the risk of any mistake by it inentering into this Settlement Agreement.5.4.
Nothing in this Settlement Agreement shall be or shall be construed as alimitation on the City’s authority to operate, maintain, improve, contract, incurdebt, issue bonds or other obligations, or take any other action (collectively,“Actions”) regarding the City Waterworks Utility, including the Sewer Utility,Water Utility and Stormwater Utility. The BRA reserves the right (including inthe Appeal) to challenge any such Actions of the City, except as set forth in thisSettlement Agreement.6.
Draw Procedure. The City agrees to provide a copy of supporting (“back up”)documentation for each City draw against the Sewer System Obligations, either before orsimultaneously with each draw, so that BRA may verify that the draw is being made to paycosts approved in Settlement Agreement Section 4.2.7.
The City agrees to repeal the sewer rate surcharge adopted by Ordinance No.2009-35, as soon as practicable after the Effective Date of this SettlementAgreement. Pending repeal of the Ordinance, the surcharge will be suspended. It