RES 70159 - Laserfiche WebLink

3o As provided in Section C of the Underground Extension Rule, City shall pay to PGandE on demand and in advance of any construction by PGandE a nonrefundable amount of $216o30 and Owner shall pay to PGandE on demand and in advance' of any construction a refundable advance of $2,506.90 which is the estimated cost of the Distribution System, as determined under Section C.2 of the Underground Extension Rule. If any street lighting facilities are to be installed, the City shall also pay to PGandE on demand and in advance of any construction by PGandE the nonrefundable amount of $504°'00 which amount is determined in accordance with PGandE's applicable Street and Highway Lighting Schedule LS-lB, a copy of which is attached and made a part-hereof~ 4o Any portion of the refundable advance paid to PGandE under Section 3 hereof shall be subject to refund to Owner without interest, in accordance with Sections Do2 and Do3 of the Underground Extension Rule for a period of ten (10) years from the date PGandE is ready to supply service from the Distribution System. As provided in Section Do5 of the Underground Extension Rule, in the event any portion of the refundable advance has not been refunded or is not qualified for refund at the end of twelve (12) months after completion of the underground extension, the Owner will pay to the utility a monthly cost of ownership charge on those protions of the refundable advance for which no refunds have been made or are then eligible for refund° Such cost of ownership charges shall be equal to 3/4% per month times the difference between the total refundable advance and amounts previously refunded or then eligible for refund. Payment of such cost of ownership charges will normally be made by deduction from the refundable advance, but such deduction will not thereafter reduce the amount on which the cost of ownership charges are determined° Cost of ownership 3: