1983-024 - Laserfiche WebLink

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C 0 •• second, the theory of treatment facilities and their degree of treatment sophistication as prescribed by the Department of Environmental Regulation or body having jurisdiction over the matter. Without the County approval, connection charges set forth herein shall be escalated based upon increases in utility construction costs as evidenced by the quarterly construction index published in Engineering News Record Magazine, "Construction Cost Index, 20 Cities." Corporation shall adjust the coni,ecLion 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. Escrow charges and fees as contained in Section XV below shall be included in the respective connection charges listed above and incorporated therein. The Corporation hereby agrees to pay t:o 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 38 franchise fee quarterly. Said fee shall be shown as a separate additional charge on utility bills. The Corporation shall supply the County with a copy of. the Corporation's Annual Report and financial statements. All records and all accounting of Corporation shall be in accordance with the Uniform System of Accounts of the National Association of Regulatory Utilities Commissioners and general accepted accounting principles. Within ninety (90) days after close of fiscal year, the Corporation shall submit financial statements certified by a CPA and in accordance with general accepting accounting standards and NAI2UC. Also, a letter from a CPA certifying that the 38 franchise fee and the 2 1/2% renewal and replacement account has been collected and disbursed in accordance with the terms of this Agreement. SECTION XV ESCROW CHARGES: Corporation agrees to pay a fee in the amount of the currently imposed contribution in aid of construction for each -12-