7/14/1987 - Laserfiche WebLink

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J U L 1 r, 796 Boot PAuL 4. Amend the existing franchise as follows: A. Section VI - reference to "Construction Specifications for Water Distribution and Sewage Collection Facilities' promulgated by the City of Vero Beach, Water and Sewer Department, November 1, 1977, or as amended "shall be changed to "Current County Construction Specifications as amended"...; and B. Section XIV - Under "ESCROW CHARGES" delete all of Paragraph A and the last sentence of Paragraph B and renumber Paragraphs B and C; and C. Section XX reference to "s125.43, Florida Statutes," should be changed to "s125.42, Florida Statutes"; and D. Section XXII - should be deleted and replaced by the following: FRANCHISE FEE A. The Utility hereby agrees to pay to the County a franchise fee in the amount of 6% of the Utility's annual gross receipt or operating costs (which includes the rate of return), whichever is greater. If Utility does not have a rate schedule, then it shall pay 6% of its gross operating costs or the sum of $500.00, whichever is greater. The Utility shall pay the 6% franchise fee quarterly. This fee shall be shown as a separate additional charge on the utility bills. B. The Utility shall supply the County with a copy of an annual report in a form prescribed by Indian River County and financial statements. All records and all accounting of the Utility shall be in accordance with the Uniform System of Accounts of the National Association of Regulatory Utilities Commissioners and generally accepted accounting principles. Within 90 days after the close of the fiscal year, the Utility shall submit financial statements certified by a CPA and also a letter from a CPA certifying that the 6% franchise fee and any other requested fees have been collected and disbursed in accordance with the terms of this Agreement. Commissioner Eggert asked if the amendments recommended in part 4 bring the franchise to what the franchise would read if they wanted to get it today new. Chairman Scurlock stated they would not and he wished to know why is staff recommending seven years rather than the current franchise we are issuing in a non-discriminatory manner to those coming into the county for the first time. Utilities Director Pinto explained that the present franchise does not have a specific date of expiration other than the 7 year option time stated in the franchise, and, therefore, staff is reading that as an extension of the existing franchise and going another seven years, and then felt we would have met our obligation. 44 M