9/7/1983 - Laserfiche WebLink

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and for use of County rights-of-way and public places. The Utility shall pay the 3% franchise fee quarterly. Said fee shall be shown as a separate additional charge on utility bills. The Utility shall supply the County with a copy of the Utility's annual report and financial statements. All records and all accounting of Utility shall be in accordance with the Uniform System of Accounts of the National Association of Regulatory Utilities Commissioners and general accepted accounting principles. Within ninety (90) days after close of fiscal year, the Utility shall submit financial statements- prepared tatementsprepared by a CPA and in accordance with general accepting accounting standards and MUM. Upon demand by the Board the Utility Will submit audited financial statements certified by a CPA. Also, a letter from a CPA certifying that the three percent (3%) franchise fee and the two and one-hdlf percent (2h%) renewal and replacement account has been collected and disbursed in accordance with the terms of this Agreement. SECTION XVI Escrow Charges The Utility agrees to pay a fee in the amount of the currently imposed contribution in aid of construction for each unit in effect at the time of the issuance of a certificate of occupancy, as a contribution in aid of construction charge (for future 'connection to County water distributions mains) as provided for in Ordinance 80-21, Section 3, Part B. Utility further agrees to pay a sum per ERC for water and wastewater plant capacity charge, as each unit is completed as the future plant capacity charges as provided for in Ordinance 80-22, Section 1 or according to the Ordinances in effect at the time of the issuance of a certificate of occupancy. The County will establish separate interest bearing passbook for the water and wastewater system and will deposit all escrow charges paid for any and all connections in this franchise. The fees referenced in this section are subject to the escalation provisions of Section XIV contained herein, using the County factor established in Ordinance 80-21 .and 80-22. The fees referenced in this Section shall always be reasonable. Throughout the term of this franchise, the Utility shall be entitled to any and all interest which shall be paid annually on or before September 30th of each year to the Utility. The Utility shall be 10 SEP 7-1983 5A�ae5