1983-108 - Laserfiche WebLink

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(5) In the event of an acquisition by the county, or the utilization of the County 's own plants , the county shall receive the irrigation distribution and /or wastewater collection system free of cost and in good repair, wear and tear excepted. 'I'he Utility agrees to grant to the County any easerrents necessary to connect the irrigation or wastewater system to the County 's water/wastewater systems without charge. The Utility shall pay all required fees upon acquisition or upon connection to County 's own plants. Upon connection to County 's system, Utility may utilize any escrowed tronies for the purpose of payrrent to the County for impact or connection fees. SECT'ION XVII RENEWAL & REPI.ACEMENI' ACCOUNT 'lwo and one half percent (2½%) of the gross receipts of the Utility shall be placed in an interest bearing renewal and replacement account for purposes of renewal and /or replacement of the capital assets of the water and/or wastewater system of the Utility. Additionally, the Utility shall initially fund said account with two thousand dollars ($2 ,000) which will also be reserved for capital maintenance items. Interest shall accumulate in said account .mtil the account reaches ten thousand dollars ($10 ,000 ); thereafter interest shall be paid to the Utility annually. Said funds shall be used as a sinking fund and applied only for renewal and /o r replacement of the water and /or wastewater system by the Utility as the need arises; the percentage required to be placed in the renewal and replacement account may be arrended after review by the County as necessary to maintain a suffici ent account balance taking into account the general condition of the system. The County is granted the right to make necessary repairs using said funds in the event of default on the part of the Utility in maintaining the quality standards established herein. In the event the County exercises its rights under (2), (4 ) or (5) above, said fund shall vest in the County. In the event that the County purchases the corporation's utility system pursuant to the provisions of this franchise as stated above , then any funds in said renewal and replacement account s hall vest in the County. SECT'ION XVIII INSURANCE The Utility shall at all tirres maintain public liability and property damage insurance in such atrounts as set forth in Exhibit "C" attached hereto and incorporated herein by reference. The Utility shall cause the County to be duly notified by the insurer in the event of any trodifications or deletions of the insurance as set forth in said Exhibit "C ". Said atrounts shall be adjusted by the Utility, as shall be required from tirre to tirre by the Board in accordance with good business 12