1983-120 - Laserfiche WebLink

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Utilities Director. The County shall grant rates to the Utility which are just, reasonable and compensatory, which allow the Utility a fair rate of return on its property, systems and additions thereto. Fates and charges may be amended, upon proper justification by the Utility. ® other provisions of this Ordinance deal with the mechanisms of the setting of rates and charges. The rates to be charged can reflect a reasonable rate of return on a rate base that is inclusive of these items. The Utility shall at any time, when requested by a consumer, make a test of the accuracy of any meter; prior, however, to any test being • i made by the Utility, the sum of ten dollars ($10.00) shall be deposited with the Utility by the party requesting such test. Such sum shall be returned if the test shows the meter to be inaccurate in its delivery. If the meter is inaccurate, the meter will be repaired or changed, and should the meter reading calibrate too high, a billing adjustment will be made for no more than the past six month's actual readings. Whenever it is necessary to shut off or interrupt service for the purpose of making repairs or installations, the Utility shall do so at such times as will cause the least amount of inconvenience to its consumers and, unless such repairs are unforeseen and immediately necessary, it shall give not less than five (5) days' notice thereof to its consumers for non -emergencies. FRANCHISE FEE The Utility hereby agrees to pay to the County a franchise fee in the amount of six percent (6%) of the Utility's annual gross receipts, (or the sum of five hundred dollars ($500), whichever is greater), derived from monthly service charges to defray the cost of regulation and for use of County rights-of-way and public places. The Utility shall pay the 6% franchise fee quarterly. Said fee shall be shown as a separate additional charge on utility bills. 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 accepting 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 percent (6%) franchise fee and the two and one-half percent (2�%) renewal and replacement account has been collected and disbursed in accordance with the terms of this Agreement. SI:CPION XVI 9