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RES 89228
City of Pleasanton
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1980-1989
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1989
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RES 89228
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5/11/2012 3:59:05 PM
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11/23/1999 11:30:18 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
5/16/1989
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F.XHTRTT A <br />The annual return on equity (ROE) is defined as the difference <br />between franchise revenue and allowable franchise expenses. <br />Franchise expenses shall include corporate taxes calculated at <br />prevailing California and Federal tax rates, and shall include <br />expenses and reserves established in accordance with the <br />provisions of Paragraph 19.2(d), (e), (f), and (g) of the <br />Agreement. The ROE shall be determined annually covering a <br />twelve (12) month fiscal year ending each March 31. <br />The City and the Collector shall meet to determine the status of <br />the landfill reserve and the set-aside provisions once landfill <br />closure has been completed. <br />The minimum and maximum ROE limitations shall be as specified in <br />Paragraph 19.2(e). When the annual ROE is greater than the <br />maximum ROE limitation, the excess revenues over and above the <br />maximum limitations shall be held in a reserve to defray future <br />rate increases. When the resulting annual ROE is less than the <br />mimimum ROE limitation, the deficiency in revenues shall be <br />recoverable from future timely rate increases, and/or from <br />reserves (if any) set up to defray future rate increases. <br />The equity base shall be the total of amounts as of the last day <br />of the preceding fiscal year and shall include all stockholder <br />loans, advances, capital or common stock, retained earnings and <br />net worth of Pleasanton Garbage Service and M & M Land Company <br />but excluding Tri-Valley Pumping Service. The equity base shall <br />be reduced by the adjusted value of any unamortized covenant or <br />franchise costs deferred as of the last day of each fiscal year. <br />The adjusted value of these deferred costs shall be equal to the <br />book value minus 52.5$ representing the composite tax effect of <br />Federal and California tax rates. <br />Franchise revenue is defined <br />Agreement reduced by a landfill <br />pursuant to Exhibit A(1) attached <br />as gross revenue under this <br />reserve set-aside, calculated <br />hereto. <br />23. <br />
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