1988-035 - Laserfiche WebLink

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SII i 3 SECTION XVII i CONNECTION CHARGFt/CAPACITY DEMAND FEE j Connection charges and capacity demand fees shall be established by public hearing as are held for setting rates. I SECTION XVIII 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 receipts, 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 utility bills. B. The Utility shall supply the County with a copy of the Utility's annual report 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 prepared by a CPA. Upon demand by the County the Utility shall submit audited 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. SECTION XIX ESCROW CHARGES A. The Utility shall place into a County Escrow account an amount equal to the County impact fee current at the time of the issuance of a Building permit. B. The County will deposit all escrow charges paid for any and all connections in this franchise into an interest bearing account with the interest remaining in the account. C. Should the County at any time take over the system the money remaining in the account shall become the absolute property of the County and the Utility shall have no rights thereto.