1983-109 - Laserfiche WebLink

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40 6® autcmatically increased or decreased without hearing, upon verified notice to the Board thirty (30) days prior to the Utility's implementation of the increase or decrease that the rates charged to the Utility by Indian River County or its successor have changed. Before implementing a change in rates under this section, the Utility shall file an affirmation under oath as to the accuracy of the figures and calculations upon which the change in rates is based, stating that the change is designed to increase or decrease the Utility's revenues by no more than the amount of the additional change imposed on the Utility by the County. 3. A new Section 23 is added to the original resolution, as am>?nded, to read as follows: SBCPION 23 Within thirty (30) days after the first anniversary of the effective date of this section and within thirty (30) days after each succeeding anniversary of the effective date of this section, the Utility, its successors or assigns, shall pay to the County or its successors an amount which, when added to the amount of all county taxes, licenses and other impositions levied or imposed upon the Utility's property, business or operations for the preceding tax year, will equal six percent (6%) of gross company revenues (excluding contributions -in -aid -of -construction and connection charges) fran the sale of water and sewer service to residential and commercial customers served by the Utility's systems in Vero Shores and Vero Beach Highlands within the unincorporated area of the County for the twelve fiscal months preceding the applicable anniversary date. The franchise fee shall be collected from, and shall be shown as a separate item on the Utility's bills to its customers. The Utility shall supply the County with a copy of the Utility's annual report and financial statements. All records and all accounting of Utility 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 Utility shall submit financial statements prepared by a CPA and in accordance with general accepted accounting standards and NARUC. Upon demand by the Board the Utility will submit audited financial statements certified by a CPA. Also, a letter from a CPA certifying that the six (6) percent franchise fee has been collected and disbursed in accordance with the terms of this Agreement. The County reserves the right to adopt, in addition to the provisions herein contained and existing applicable resolutions or laws, 3