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C-3 <br />do <br />®o <br />Fee has been properly determined, collected and remitted to <br />County, and further that the 2' % Repair and Replacement Fund has <br />been properly funded and expensed in accordance with Section XVI <br />of this Resolution. <br />SECTION XV <br />The County shall have the right to purchase the Corporation's <br />water system (excluding internal distribution lines located within <br />properties being served and appurtenant facilities related <br />thereto) pursuant to the following provisions: <br />(1) The County may exercise its right to purchase by giving <br />written notice by certified mail to Corporation not sooner than <br />180 days nor later than 60 days prior to the seventh and tenth <br />anniversaries of the effective date of this franchise. <br />(2) The purchase price to be paid by the County shall be an <br />o amount equal to the original cost and costs associated with <br />capital additions and expansions less the following: <br />W (a) depreciation at 3�% annually applied against the <br />W total costs of plant and system, capital additions and expansions <br />0 <br />funded by the Corporation, excluding costs funded by contributions <br />t <br />m in aid of construction received from Developers requesting service <br />g to properties other than those properties described on Exhibit A. <br />LL <br />i The depreciation deduction shall not exceed 24.5% of said costs. <br />0 <br />(b) an amount equal to the total connection fees or <br />other forms of contributions in aid of construction collected and <br />received by the Corporation from Developers (excluding connection <br />fees or other forms of contributions in aid of construction <br />collected with respect to units and facilities located on those <br />properties described in Exhibit A, attached hereto). <br />(c) an amount equal to the "Reserve Capacity Fees" <br />charged by the County pursuant to County Ordinance 80-22 <br />(presently, $285.00 per ERC) as escalated from time to time <br />pursuant to said ordinance, which, had the County installed the <br />plant and system, would have been charged upon issuance of <br />Certificates of Occupancy on units and facilities located on those <br />properties described on Exhibit A. <br />(3) It is acknowledged that the plant site and road access <br />thereto, (as shown on location map submitted with franchise <br />application) will be utilized by Corporation under License <br />13 <br />