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(d) Notwithstanding anything herein to the contrary, no utility may adjust its rates under this subsection more than two times in any 12 month period. C=a'.VICN CHARGE/CAPACITY DEMAND FEE Connection charges shall be established by public hearing prior to system going into operation. FRANCHISE FEE 1. 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 ut, I , ty s +iu1 i pxy tti c .r] o frailCliijG fCG LjLLtIL l L Iy • said Lee Snail be shown as a separate additional charge on utility bills. 2. 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 frau 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 ecte and d-; sba--- d i.. accordance w' i.l the LCLIi Of 1.1115 Agreement. SECTION XVI Escrow Charges 1. The Utility agrees to pay a fee in the amount of the currently imposed contribution in aid of construction for each unit in effect at the time of the issuance of a certificate of occunanry; as a contribution in aid of construction charge (for future connection to County water distribution mains or wastewater collection systems) as provided for in Ordinance 80-21, Section 3, Part B. Utility further agrees to pay a sum per ERC for water and wastewater plant capacity charge, as each unit is completed as the future plant capacity charges as provided for in ordinance 80-22, section 1 or according to the Ordinances in effect at the time of the issuance of a certificate of occupancy. 2. The County will deposit all escrow charges paid for any and all connections in this franchise into an interest bearing account. Maximmun interest paid shall be equal to passbook rates. The fees referenced in this section are subject to the escalation provisions of 10