1982-060 - Laserfiche WebLink

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• U 46 The basis for the connection charges and main extension charges as set forth herein has been structured by River Bend Utility Company with regard to two major but variable factors; first, the present level of construction costs, of sewerage collection, transmission and treatment facilities and their degree of treatment sophistication as prescribed by the Department of Environmental Regulation or body having jurisdiction over the matter. The County agrees that the schedule of connection charges set forth herein may be escalated based upon increases in utility construction costs as evidenced by the quarterly construction index published in Engineering New Record Magazine, "Construction Cost Index, 20 Cities." River Bend Utility Co. shall adjust the connection charges set forth herein semi-annually, with the first such adjustment to be not earlier than January 1, 1983. Any escalation shall not exceed the percentage difference between said construction cost index for the base period ending September 30, 1981, as compared with the period of comparison. The Corporation hereby agrees to pay to the County a franchise fee in the amount of 3% of the Corporation's annual gross receipts, derived from monthly service charges to defray the cost of regulation and for use of County rights-of-way and public places. The Corporation shall pay the 3% franchise fee quarterly. The Corporation shall supply the County with a copy of the Corporation's Annual Report and financial statements. Also, a letter from a CPA certifying that the 3 percent franchise fee and the 2 1/2 percent renewal and replacement account has been collected and disbursed in accordance with the terms of this agreement. SECTION XV Escrow Charges The River Bend Utility Company agrees to pay a fee in the amount of the currently imposed contribution in -11-