Laserfiche WebLink
annual experienced joint-use O&M expense of the Project. <br />Payments for 0&M expense are due and payable in advance on <br />the date for payment of Project first cost as set forth in <br />Article 5a(2) and shall be based on O&M expense for the <br />Project in the Government fiscal year most recently ended. <br />The amount of each annual payment will be the actual <br />experienced 0&M expense (allocated joint-use) for the <br />preceding fiscal year or an estimate thereof when actual <br />expense information is not available. <br />d. Delinquent Payments. If the User shall fail to <br />make any of the payments when due, then the overdue <br />payments shall bear interest compounded annually until <br />paid. The interest rate to be used for overdue payments <br />due under the provisions of Articles 5a, 5b, and 5c above <br />shall be that determined by the Department of Treasury's <br />Treasury Fiscal Requirements Manual (1 TFRM 6-8000, "Cash <br />Management"). The amount charged on payments overdue for a <br />period of less than one year shall be figured on a monthly <br />basis. This provision shall not be construed as giving the <br />City a choice of either making payments when due or paying <br />interest, nor shall it be construed as waiving any other <br />rights of the Government, at law or in equity, which might <br />result from any default by the City. <br />ITEM 3: No Change to Article 11 in Supplemental Agreement <br />No. l. <br />ITEM 4: No Change to Articles 15, 16, 17 or 18 in <br />Supplemental Agreement No. 1 <br />ITEM 5: Exhibits A, B and C of the Supplemental Agreement <br />No. 1 are deleted in their entirety and substituted <br />therefore with: Exhibit A: Certification and Exhibit B is <br />substituted to reflect reservoir storage, allocation of <br />actual cost and the lump sum payment of the total 109,600 <br />acre-feet of water supply storage, plus the total <br />percentage and amount of the variable annual joint-use O&M <br />costs associated with this storage as well as the total <br />percentage and amount of any associated RR&R costs. <br />ITEM 6: No Change to Article 7c in Supplemental Agreement <br />No. 1. <br />EXCEPT as herein modified, all the terms and <br />conditions of said agreement and Supplemental Agreement No. <br />1 sha11 remain unchanged and in full force and effect. <br />5 <br />