1984-010 - Laserfiche WebLink

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section XN contained herein, usinq the county factor established in Ordinance 80-21 and 80-22. The fees referenced in this Section shall always be reasonable. 3. Throughout the term of this franchise, the Utility shall be entitled to any and all interest which shall be paid annually on or before September 30th of each year to the Utility. The Utility shall be entitled to an accounting of said interest bearing account annually upon request made by it to the County. 4. Should the County at any time provide a water distribution system and/or wastewater collection system and furnish water and/or wastewater services to individual customers within the franchise territory, the sums of money remaining in said account consisting of plant capacity charges and contributions in aid of construction charges shall become the absolute property of the County and the Utility shall have no rights thereto. In such event, the Utility shall be absolved fin the obligation of payment of further connection charges to the County and this franchise shall terminate. a) The County shall have the right to purchase the Utility's water and/or wastewater plant at Utility's original construction cost, land cost, plus costs associated with capital additions and expansions to the system less three and one-half percent (3�%) depreciation per year. Depreciation on the system shall be calculated to start at the time the county issues a letter acknowledging the construction of the water and/or wastewater system as provided in Section VI. Upon acquisition of the water and/or wastewater plant and appurtenant real estate, the County would then own the entire water and/or wastewater system and would terminate this franchise and provide water and/or wastewater utility service to the franchise territory. All accumulated escrow fees would vest in the County. b) In the event of an acquisition by the County, or the utilization of the County's own plants, the County shall receive the water distribution and/or wastewater collection system free of cost and in good repair, wear and tear excepted. The Utility agrees to grant to the County any easements nocecc�a j' to co.-- the water and/ a r wastewater system to the County's water/wastewater systems without charge. The Utility shall pay all escrowed impact fees upon acquisition or upon connection to County's own plants. c) If in the event the County determines that it will not exercise its option under item #4(a) within seven (7) years, escrowed contributions in aid of construction or impact fees shall become part of the renewal and replacement fund and may be used as described within Section XVII, RENEWAL & REPLACEMENT ACCCUNT. If at any time thereafter the County takes possession or makes use of the utility systems, all contributions in aid of construction funds collected will vest to the County and those funds which have been expended or an equal amount would be deducted from any purchase price. 11