§ 17B-2a-607 — Contracts with other corporations.

(1) A metropolitan water district may:

(1)(a) contract with one or more corporations, public or private, for the purpose of:
(1)(a)(i) financing acquisitions, constructions, or operations of the district; or
(1)(a)(ii) carrying out any of the district's powers;
(1)(b) in a contract under Subsection (1)(a), obligate itself severally or jointly with the other corporation or corporations; and
(1)(c) secure, guarantee, or become surety for the payment of an indebtedness or the performance of a contract or other obligation incurred or entered into by a corporation whose shares of stock the district has acquired.
(2) A contract under Subsection (1)(a) may:

(2)(a) provide for:
(2)(a)(i) contributions to be made by each contracting party;
(2)(a)(ii) the division and apportionment of:

(2)(a)(ii)(A) the expenses of acquisitions and operations; and
(2)(a)(ii)(B) the contractual benefits, services, and products; and
(2)(a)(iii) an agency to make acquisitions and carry on operations under the contract; and
(2)(b) contain covenants and agreements as necessary or convenient to accomplish the purposes of the contract.

Legislative History

Enacted by Chapter 329, 2007 General Session