1984-029 - Laserfiche WebLink

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4 thousand dollars ($5,000); thereafter interest shall be paid to the Utility annually. Said funds shall be used as a sinking fund and applied only for renewal and/or 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 amended after review by the County as necessary to maintain a sufficient account balance taking into account the general condition of the system. The County is granted the right to make necessary repairs using :.,'aid 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) or (3) 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 shall vest in the County. IN WITNESS WIMEOF, the Board of County Ccnmissioners of Indian River County, Florida has caused this franchise to be executed in the nan-e of the County of Indian River by the Chairman of the Board of County Commissioners, and its seal to be affixed and attested by its Clerk, all. pursuant to the resoluton of the Board of County Comlissioners adopted on the 2nd _— day 04- May —, 1984. Signed, sealed and delivered C RM OF INDIAN RIVER in the presence of: By: C Don C. Scurlock, Jr., Board of County Commissioners Attest to LQ/ j Approved.,Wfon)and ingca, % Clerk ar 1. Brandenburg ACCEPTANCE OF FRANCHISE -iy Attorney BREEZY VILIAC,E SEWER AND WATER COMPANY, INC., a Florida Corporation, does hereby accept the foregoing franchise, and for their slleCrPSsorB and assigns rima hereby coYenar;t and agree to twl- a. u a aiiu abide by all of the terms, conditions and provisions therein set forth and contained. DATED at Vero Beach, Indian River County, Florida, this �_ day of )Lll, 1984. 4