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<br />6.3. When it has been determined tha t the wa ter meter has <br /> <br />, . <br />" t. <br />registered incorrectly, an estimate of the amo~ri~"of water <br />furnished through the faulty meters shall be prepared by CITY's <br />Director of Finance for the purpose of billing MJC. The estimate <br />shall be based upon the average of correct readings for the same <br />or equivalent months in the preceding year or such other method <br />which would most accurately reflect the actual consumption for <br />the period in which the meter failure occurred as can be mutually <br />agreed upon by the City Manager and MJC's President or designated <br /> <br />representative of the respective parties. <br /> <br />VII. <br /> <br />Rates <br /> <br />7.1. Charges for water furnished to MJC throughout the term <br /> <br /> <br />of this contract shall be at the rate of $1.65 per 1000 gallons. <br /> <br /> <br />The rate established herein shall be increased or decreased <br /> <br />annually, in October of each year, in the percentage amount of <br />increase or decrease in the Consumer Price Index for All Urban <br /> <br />Consumers, (CPI-U United States City Average (1982-84=100.0) <br />above or below the rate for January, 1990, which shall be deemed <br />to equal 127.4 as appropriate. <br />7.2 It is agreed that the rate established in paragraph 7.1 <br />above is not based upon cost of service but is agreed to be fair <br />and equitable to both parties. In the event MJC should ever <br />desire a cost of service based rate including a return on <br />investment to CITY, CITY would procure the same at MJC's cost and <br />would have the right to discontinue service in the event the cost <br /> <br />-6- <br />