RES 97107 - Laserfiche WebLink

committee of the elected representatives of the parties shall meet at least twice a year to discuss the matters described in said Paragraph 16. Without limitation upon the scope of said meetings, the commitlee snail include in the subject matter thereof the establishment and periodic review of a list of projects which are to be funded with the revenues from the uniform regional connection fee imposed by the parties within their respective sewerage service 'areas pursuant to the provisions of Paragraph 10(a) of the Basic Agreement. The committee shall endeavor to agree upon, and assign, priorities to said projects. (b) Expenditure Policies Governing pro_iects. The priorities assigned by the committee aforesaid shall govern Districrs expenditures of the revenues from the uniform regional connection fee pursuant to the provisions of Paragraphs 11© (,~) and 11 (d) (Capacity Acquisitions) of the Basic Agreement. However, if one party objects to the expenditure of revenues from the uniform regional connection fee for a particular project, such revenues may be used for the project to which objection has been raised: provided, that there is no adverse financial impact to the objecting party. "No adverse find{ncial impact" as used herein means that funds equal to the amount of net uniform connection fee revenues attributable to the objecting party's sewerage service area which would have been allocated to the project but for such objection, plus interest, will be available for the objecting party's alternative project (i.e. , any regional project providing Treatment or Disposal Capacity to which the objecting party assigns a higher priority or which otherwise is designated by the objecting party) when needed for that project. Interest on such funds shall be calculated at the average annual rate of interest paid on funds deposited with the Local Agency Investment Fund in the State Treasury (established pursuant to Government Code Section 16429.1) over the time the aforesaid net revenues are allocated to the project to which objection has been made. ObjecticOn to a project shall be written and, to be effective, must be received by the non-objecting party no later than sixty(60) days from the date of the first planning meeting (as provided in Paragraph 6(a)) from the date of Districrs project approval either under CEQA or pursuant to Districrs determination that the project is not subject to CEQA; provided, however, that if City, in its sole discretion, Agmt-10b 12 8/27/97