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regulations covering the conduct of its business as shall be <br />40 <br />reasonably necessary or appropriate to enable it to exercise its <br />40 rights and perform its obligations hereunder. The City hereby <br />declares that all resolutions or ordinances of the City in <br />conflict with the provisions of this Resolution are hereby <br />repealed to that extent. The City hereby covenants to assist and <br />cooperate with the County in order to carry out the purpose and <br />0 • intent hereof. It is specifically agreed that this Resolution, <br />when accepted by the County, shall be considered an agreement by <br />and between the City and the County, and as such, a contractual <br />instrument recognized under the statutes and common laws of the <br />State of Florida. <br />9. Franchise Fee. Within the first two weeks of <br />August of each year, the Countv, its successors or assigns, shall <br />pay to the City, an amount of money which will equal Six Percent <br />(GB) of the County's gross revenues from the sale of water and <br />sewer service to all of its customers within the Franchise <br />Territory. Each such franchise fee shall be for the twelve (12) <br />month period ending on July 31st immediately preceding such <br />payment date. The County may designate that portion of a <br />customer's bill attributable to the franchise fee as a separate <br />item on such bill. Any interest earned by the County on said fees <br />shall be paid to the City. <br />10. Effective Date. This Resolution shall take effect <br />immediately upon its adoption. <br />CITY OF SEBASTIAN, FLORIDA <br />ATTEST: -�} / A r r, )r ) C ,<.l ru B}y�� <br />C ty Clerk,j Gene Mavor <br />(CITY SEAL) <br />== <br />