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f <br />4 <br />of <br />cha,ge, as each unit is completed as the future plant capacity charges <br />as provided for in Ordinance 00-22, Section 1 or according to the <br />Ordinances in effect at the time Of the issuance of a certificate of <br />occupancy. <br />The County will establish separate interest bearing passbook for <br />the water and wastewater system and will deposit all escrow charges paid <br />for any and all connections in this franchise. The fees referenced in <br />this sectior: are subject to the escalation provisions of Section XIV <br />contained herein, using the County factor established in Ordinance 80--21 <br />and 84-22. The fees referenced in this Section shall always be <br />reasonable. <br />Throughout the term of this franchise, the Utility shall be <br />entitled to any and all ]interest which shall be paid annually on or <br />before September 30th of each year to the Utility. The Utility shall be <br />entitled to an accounting of said interest bearing account at any time <br />upon request made by it to the County. <br />(A) Should the County at any time within the ensuing seven (7) <br />years provide a water distribution system and/or wastewater collection <br />system and furnish water and/or wastewater services to individual <br />customers within the franchise territory, the sumsof money remaining in <br />said account consisting of plant capacity charges and contributions in <br />aid of construction charges shall become the absolute property of the <br />County and the Utility shall have no rights thereto. in such event, the <br />Utility shall be absolved frau the obligation of payment of further <br />connection charges to the County. In the event the above condition is <br />not met by the County within seven (7) years from the date of this <br />franchise agreement, the county shall have the following options: <br />(1) Extend the franchise with all escrowed conies paid to the <br />Utility and further escrows discontinued. <br />(2) The county shall have the right to purchase the utility's water <br />and/or wastewater off-site lines at utility's original construction <br />costs plus costs associated with capital additions and expansions to the <br />system less three and one-half percent (3W depreciation per year. <br />Depreciation on the off-site lines shall be calculated to start at the <br />time the County issues a letter acknowledging the construction of the <br />water and/or wastewater off-site lines as provided in Section VI. upon <br />acquisition of the water and/or wastewater off-site lines, the County <br />would then own the entire water and/or wastewater system and would <br />terminate this franchise and provide water and/or wastewater utility <br />service to the franchise territory. All accumulated escrow fees would <br />vest in the County. County would receive easements for all lines at no <br />charge. <br />11 <br />