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196785 <br />RESOLUTION NO. 77-95 <br />WHEREAS, this Board heretofore did grant a water and sewer <br />franchise to General Development Utilities, Inc., said franchise being <br />known as General Development Utilities, Inc., Water and Sewer Franchise, <br />and, <br />WHEREAS, this Board did receive a request in writing from <br />General Development Utilities, Inc. for an increase in water and sewer <br />extension charges and, <br />WHEREAS, after public notice of public hearing, the Board of <br />County Commissioners finds that an increase of water and sewer exten- <br />sion charges are justified and in the public interest and that Section <br />14 of General Development Utilities, Inc., Water and Sewer Franchise <br />should be amended accordingly and, <br />THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA, that <br />1. SECTION 14 of General Development Utilities, Inc., Water <br />and Sewer Franchise is hereby amended as follows: <br />SECTION 14 <br />The rates charged by the Owner for its service <br />hereunder shall be fair and reasonable and designed <br />to meet all necessary costs of the service, including <br />a fair rate of return on the net valuation of its <br />properties devoted thereto under efficient and econo- <br />mical management. The Owner agrees that it shall be <br />subject to all authority now or thereafter possessed <br />by the County or any other regulatory body having com- <br />petent jurisdiction to fix just, reasonable and <br />compensatory rates. The Owner shall have authority <br />to charge and collect, but not to exceed the following <br />schedule of rates, which shall remain effective until <br />changed or modified as herein provided, to -wit: <br />C.1Page 1 of 2 <br />_ y _'i r!(rtl <br />CA <br />ooicU5�2f�+GE28bl <br />