1997 AGN MAY 19 I01 - Laserfiche WebLink

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, I � hauling needs as well as the requireri�iet�t� establr'�hed by fhe State of Califomia (AB 939 and future legislation). Facility (Section 4.02b) Contractor shall provide irrevocable letter of credit issued by a bank safisfactory to the City in the amount of $100,000. A payment of $55,Q00 must be made if -atl required environmental review and required permits for the solid waste facility are not received by Juiy 1, 1999; and $45,000 if construction has not been completed and processing and transfer operations have not commenced on or befare December 31, 2000. : The existing agreernent requires a$20,000 payment if the Contractor has not acquired a site for the facility by January 1, 1997. The amendment changes the site acquisition date to November 1, 1997. This hasbeen discussed previously and was written about in the local newspapers. Recovered Matsrial Revenues and Market Risk AlFocation (Section 4.02c.} Effective July 1, 1997, Taormina shall guarantee a minimum of $41,000 in annual recycling income to the City. This income shall substantia(ly assist in offsetting the expense of a Code Enfiorcement Officer to support local fiealth and safety code compliance. The Code Enforcement OfFcer shall be funded according to the following schedule. ' July 1, 1997 - June 1, 1998 -$41,000 annually July 1, 1998 - June 1, 1999 -$43,050 annually July 1, 1`999 - June 1, 2000 -$45,202 annually July 1, 2000 - June 1, 2001 -$47,462 annually July 1, 2001 - Term of Franchise $49,835 annually Effective July 1, 1998 an adjustment will be made fo the residential rate reflecting a $0.30 adjustment for recycling income to the City, No adjustment to the service rate shall be made prior to July 1, 1998. Rates - EscaFation (Seciion 10.11) There are no changes to this section. Escalation formula effective July 1, 1998 continues to be based upon 80% of the US Cities CPI Index. The service fee shall only be escalated if the Contractor is in compGance with this agreement. Removal of Trans:ition Language We are proposing that Transition Language b$ removed throughout the agreement. The "transition" period referred to in the present agreement was the period i� time between July 9, 1996 and September 30, 1996. Transition fanguage refers primarily to the transition from the City provicling manual collection senrices to the Contractor providing automated and manual residential and commercial collection services. 3 - i - _�