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AG 1998 08 17
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AG 1998 08 17
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Last modified
4/4/2002 7:32:05 PM
Creation date
11/27/2017 11:52:11 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/17/1998
Board
Board of Commissioners
Meeting Type
Regular
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WSACC will, by a lump sum payment within forty-five (45) days of detemfination, <br />refund any rates, fees or charges or parts thereof that WSACC or a court of Competent <br />jurisdiction by final judgment determines were inaccurate or otherwise not entitled to be <br />collected from Cabarrus. Rather than making a refund by a lump sum payment, WSACC and <br />Cabarrus may agree that WSACC may make such refund in successive monthly installments <br />over such period as they determine to be appropriate, not exceeding twenty-four (24) months <br />from the last date a lump sum refund would have been due. <br /> <br />ARTICLE III <br /> <br />Rates, Fees and Charges <br /> <br /> WSACC will establish rates, fees and charges for the use of and for the services provided <br />or to be provided by it through the Sewer Facilities so that the revenues received by WSACC <br />therefrom, together with any other available revenues or funds of its water and sewer system, <br />will be sufficient at all times to pay the cost of operating, maintaining, repairing, replacing, <br />expanding and improving the Sewer Facilities, to pay debt service on revenue notes or bonds of <br />WSACC or debt service on other indebtedness incurred or assumed by WSACC in connection <br />with the ownership or operation of the Sewer Facilities, and to provide reserves for such <br />purposes, all as WSACC may determine to be necessary or appropriate. Such rates, fees and <br />charges as are currently in effect and certain information as to how they are derived are set forth <br />in Exhibit A hereto. <br /> <br /> Such rates, fees and charges shall be subject to increase, decrease and revision in <br />accordance with and pursuant to the Bond Order from time to time and without limitation to the <br />extent that any such increase, decrease or revision shall be required in order to comply with the <br />covenants of WSACC contained in the Bond Order with respect to the generation of revenues or <br />receipts of WSACC and the rates, fees and charges to be levied by WSACC in order to comply <br />with such covenants and further to the extent that such increase, decrease or revision shall be <br />deemed necessary or appropriate by WSACC. In particular, such rates, fees and charges may be <br />increased or revised by WSACC in accordance with the Bond Order to offset any decrease in the <br />revenues or receipts of WSACC resulting from any failure by any Political Subdivision or other <br />person to pay for its use of or for the services provided or to be provided to it through the Sewer <br />Facilities. Notice of any proposed increase, decrease or revision of rates, fees or charges shall be <br />provided to each Political Subdivision in writing not less than ninety (90) days prior to the <br />proposed effective date of such increase, decrease or revision. <br /> <br /> ARTICLE IV <br /> <br /> Other Provisions <br /> <br /> Section 4.1. Books and Records. WSACC shall keep proper books and records in <br />accordance with accepted accounting practices which shall be available for inspection at all <br /> <br />C.-489609v03! 1348000011 <br /> <br />7 <br /> <br /> <br />
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