1982-060 - Laserfiche WebLink

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aid of construction for each unit in effect at the time of the issuance of a certificate of occupancy, as a contri- bution in aid of construction charge (for future connection to County sewage collection mains) as provided for in ordin- ance 80-21, Section 3, Part B. The River Bend Utility Company further agrees to pay the sum of $285.60 per ERC for sewer plant capacity charge, as each unit is completed as the future plant capacity charges as provided for in Ordinance 80-22, Section 1 or according to the Ordinances in effect at the time of the issuance of a certificate of occupancy. The funds in the said escrow account shall be kept according to County's standard policies concerning the same with an annual accounting provided to company subject to the terms and conditions of this franchise contract. Throughout the term of this franchise, the Corporation shall be entitled to any and all interest which shall be paid annually on or before September 30th of each year to the Corporation. The Corporation shall be entitled to an accounting of said interest bearing account at any time upon request made by it to the County. (A) Should the County at any time within the ensuing seven (7) years acquire a sewage collection system and furnish sewer services to individual customers within the franchise territory, all sums of money remaining in said account shall become the absolute property of the County and the Corporation shall have no rights thereto. In such event, the Corporation shall be absolved from the obligation of payment of further connection charges to the County. In the event the above condition is not met by the County within seven (7) years from the date of this franchise agreement, the County shall have the following options: (1) Extend the franchise with all escrowed monies paid to the Corporation and further escrows discontinued. -12-