1986-049 - Laserfiche WebLink

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authorized by this subsection, the Board shall find that a utility did thereby exceed the range of its last authorized rate of return, it may order the utility to refund the difference to the rate payers. This provision shall not be construed to require a bond or corporate undertaking not otherwise required. (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. CONNECTION CHARGE/CAPACITY DEMAND FEE Connection charges shall be established by public hearing held in conjunction with public hearing held for setting the rates. FRANCHISE FEE 1. The Utility hereby agrees to pay to the County a franchise fee in the amount of six percent (0) of the Utility's annual gross receipts, or operating costs (which includes the rate of return). In the event Utility does not have a rate schedule, then it shall pay six percent (6%) of its gross operating costs or the sum of Five Hundred and No/100 Dollars ($500.00), whichever is greater. The Utility shall pay the six percent (6%) franchise fee quarterly. Said fee shall 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 the 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 any other requested fees have been collected and disbursed in accordance with the terms of this Agreement. SECTION XVI ESCROW CHARGES 1. The Utility shall place into a County Escrow account an amount equal to the County impact fee current at the time of the issuance of a Building permit. 2. The County will deposit all escrow charges paid for any and all connections in this franchise into an interest bearing account with the interest remaining in the account. 3. Should the County at any time take over the wastewater system the money remaining in said account shall become the absolute property of the County and the Utility shall have no rights thereto. -10-