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1983-120
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1983-120
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3/30/2023 12:21:26 PM
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Escrow Charges <br />The Utility agrees to pay a fee in the amount of the currently <br />imposed contribution in aid of construction for each unit in effect at <br />the time of the issuance of a certificate of occupancy, as a <br />® contribution in aid of construction charge (for future connection to <br />County water distribution mains or wastewater collection systems) as <br />provided for in Ordinance 80-21, Section 3, Part B. Utility further <br />agrees to pay a sum per EFC for water and wastewater plant capacity <br /><'I charge, as each unit is completed as the future plant capacity charges <br />as provided for in Ordinance 80-22, 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 section are subject to the escalation provisions of Section XIV <br />contained herein, using the County factor established in Ordinance 80-21 <br />and 80-22. 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 />I before September 30th of each year to the Utility. The Utility shall be <br />t 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/orwastewater collection <br />system and furnish water and/or wastewater services to individual <br />customers within the franchise territory, the sutras of money remaining in <br />said account consisting of plant capacity charges and contributions in <br />aid of construction charges shall became the absolute property of the <br />County and the Utility shall have no rights thereto. In such event, the <br />Utility shall be absolved from 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 frau the date of this <br />franchise agreement, the County shall have the following options: <br />(1) Extend the franchise with all escrowed cronies 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 plant at Utility's original construction costs plus <br />costs associated with capital additions and expansions to the system <br />less three and one-half percent (A%) depreciation per year. <br />Depreciation on the system shall be calculated to start at the time the <br />County issues a letter acknowledging the construction of the water <br />and/or wastewater system as provided in Section VI. In conjunction with <br />the water and/or wastewater plants purchase, the County shall also <br />purchase necessary land areas upon which the plant is located at the <br />10 <br />
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