Great Lakes Water Authority Logo
Share to Facebook Share to Twitter Bookmark and Share
File #: 2018-685    Version: 1 Name:
Type: Resolution Status: Passed
File created: 3/29/2018 In control: Board of Directors
On agenda: 4/3/2018 Final action: 4/3/2018
Title: Approval of Term Sheet for a Memorandum of Understanding ("MOU") between the Detroit Water and Sewerage Department and the Great Lakes Water Authority
Sponsors: Randal Brown, Nicolette Bateson
Attachments: 1. Term Sheet as Approved by GLWA Board
Title
Approval of Term Sheet for a Memorandum of Understanding ("MOU") between the Detroit Water and Sewerage Department and the Great Lakes Water Authority

Body
Agenda of: April 3, 2018
Item No.: 2018-685
Amount: N/A

TO: The Honorable
Board of Directors
Great Lakes Water Authority

FROM: Sue F. McCormick
Chief Executive Officer
Great Lakes Water Authority

DATE: March 29, 2018

RE: Approval of Term Sheet for a Memorandum of Understanding
("MOU") between the Detroit Water and Sewerage Department and
the Great Lakes Water Authority

MOTION

Upon recommendation of Nicolette Bateson, Chief Financial Officer/Treasurer (CFO) and Randal M. Brown, General Counsel, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA):

1) Authorizes GLWA's Chief Executive Officer (CEO), CFO and General Counsel to finalize, and the CEO execute on behalf of the GLWA, the attached Term Sheet for a Memorandum of Understanding ("MOU") between the Detroit Water and Sewerage Department (DWSD) and the GLWA (the Term Sheet);

2) Following execution of the Term Sheet by all parties, the CEO, CFO and General Counsel shall prepare, finalize and execute a MOU consistent with the provisions of the Term Sheet and shall, on at least a monthly basis keep the Board advised of the progress of finalizing the MOU, including any material changes to the Term Sheet or MOU affecting GLWA;






3) If the CEO determines that terms of the MOU have materially changed in a manner that is adverse to the GLWA, the CEO or General Counsel shall advise the Board of such change and terminate the authorization provided in paragraph 1 of this Resolution;

4) Notes that fiv...

Click here for full text