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J <br />(b) At all times herein where discretionary power is left with the <br />Board of County Commissioners, the Company, before discretionary action <br />is taken by the Board of County Cam ussioners, can request said Board <br />that a group of arbitrators be appointed, and such group shall consist <br />of: <br />1. County Utility Services Director <br />2. Company Engineer <br />3. One person selected by the above two persons <br />and this Board of Arbitrators shall make recommendations to the Board of <br />County Commissioners, but such recommendations are not mandatory. <br />Any final decision the arbitrators or board may have, with respect <br />to this franchise, can be appealed to the circuit court of Indian River <br />County by either party. <br />4. Section XV of Resolution 75-20 is hereby amended by adding the <br />following paragraphs: <br />SECTION XV <br />14 v.-I&Oo7 dim <br />1. The Utility hereby agrees to pay to the County a franchise fee <br />in the amount of six percent (6%) of the Utility's annual gross receipts <br />or operating costs (which includes the rate of return) in the event <br />Utility does not have a rate schedule (or the sum of five hundred <br />dollars ($500), whichever is greater), derived from monthly service <br />charges to defray the cost of regulation and for use of County <br />rights-of-way and public places. The Utility shall pay the 6% franchise <br />fee quarterly. Said fee shall be shaven as a separate additional charge <br />on utility bills. <br />2. The Utility shall supply the County with a copy of the <br />Utility's annual report and financial statements. All records and all <br />accounting of Utility shall be in accordance with the Uniform System of <br />Accounts of the National Association of Regulatory Utilities <br />Commissioners and general accepted accounting principles. Within ninety <br />(90) days after close of fiscal year, the Utility shall submit financial <br />statements prepared by a CPA and in accordance with general accepting <br />accounting standards and NARUC. Upon demand by the Board the Utility <br />will submit audited financial statements certified by a CPA. Also, a <br />letter from a CPA certifying that the six percent (6%) franchise fee and <br />the two and one-half percent (22A) renewal and replacement account has <br />been collected and disbursed in accordance with the terms of this <br />Agreement. <br />65 <br />MAR 6 1985 BOOK 60 PAGE 106 <br />