21 ATTACHMENT 2 - Laserfiche WebLink

-17- <br />Section 4.02. Estimated Flows. LAVWMA may ask each Member to submit, not less than ninety (90) days before the beginning of each Fiscal Year, such Member’s best estimate of what such Member’s Actual Flow will be for such Fiscal Year. Section 4.03. Advance Payment. In consideration of the provision by LAVWMA of the Sewer Service capacity, whether or not such Sewer Service is used, on or before each January 1 and July 1 during the term of this Contract, Livermore and District, acting for itself and Pleasanton, shall pay to LAVWMA their respective shares of budgeted costs identified in LAVWMA’s adopted budget as follows: (a) From their respective Gross Revenues, total Budgeted Fixed Costs and Budgeted Variable LAVWMA Maintenance and Operation Costs shall be paid in two equal amounts on or before each December 1 and June 1. (b) From their respective Net Revenues, Debt Service due on the Bonds on August 1 of each year shall be paid July 1 of each year, and Debt Service due on the Bonds on February 1 of each year shall be paid on January 1 of each year. (c) Livermore and the District shall take such action as may be necessary to include all payments due under this Section in their respective annual budgets, and shall make the necessary annual appropriations for such payments. (d) Pleasanton agrees to make all payments due to the District under Section 10 of the Regional Agreement within thirty (30) days, and the District agrees to enforce said payment obligation, if needed, and shall apply amounts received from Pleasanton pursuant to Section 10 of the Regional Agreement to the payment obligation created under Section 4.01. Section 4.04 Annual Reconciliation; Credits. Within one hundred fifty (150) days after the close of each Fiscal Year, LAVWMA shall compute the amount of the payments that would have been made under Section 4.03 by each Member if the amounts of such payments had been determined using Actual Fixed Costs instead of Budgeted Fixed Costs, Actual Variable LAVWMA Maintenance and Operation Costs instead of Budgeted Variable LAVWMA Maintenance and Operation Costs and Actual Flows instead of Estimated Flows for such Fiscal Year, and if such payments had been computed on a Fiscal Year basis rather than on a quarterly basis. Any deficiency of such amount under the amount actually paid by such Member with respect to such Fiscal Year shall be added to such Member’s next payment to be made under Section 4.03. Interest earnings on funds held by LAVWMA shall be applied as a credit toward individual Members’ payment obligation under Section 4.01, on a pro rata basis, according to the ratio resulting from such Member’s total payments to LAVWMA in a particular period, divided by the total deposits made by all the members to LAVWMA in such period, unless otherwise directed by LAVWMA’s Board. Any excess of such amount over the amount actually paid by such Member with respect to such Fiscal Year shall be applied as a credit toward such Member’s payment obligation under Section 4.01.