[City of Clarendon Ledger: Ordinances (207)-363] Page: 28
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28
terest on the Authority's bonded indebtedness will vary from time
to time, it is not practical to fix a schedule of rates in this
Contract which will control the price under which the Authority
shall charge the City for water delivered under this Contract.
It is agreed, however, that such price shall be established on
the basis of rates comprised of two components as follows:
Demand Charqe: The Board of Directors shall prepare a budget
for the Fiscal Year beginning July 1, 1975, and on or before
each June 15th thereafter, the Board of Directors shall prepare
a budget for the ensuing Fiscal Year, Each budget shall set forth
the amount of money which will be sufficient in the Fiscal Year:
(i) To pay the Operation and Maintenance Expenses of the
Authority, plus a reasonable amount to cover unforseen expendtures;(ii) To pay the interest to mature on the bonds;
(iii) To provide any amounts required by the terms of
the Bond Resolution to be deposited during such Fiscal Year to
any of the special funds including Emergency Fund and Reserve
Fund created by the Bond Resolution, except the Sinking Bund.
The total of such budget shall be allocated among the Contracting
Parties and Future Contracting Parties in that proportion
which the total number of gallons of water distributed by each
of the Contracting Parties and Future Contracting Parties during
the immediately preceding Fiscal Year bears to the total numb
ber of gallons of water distributed by the Contracting Parties
and the Future Contracting Parties during such Fiscal Year. Such
allocation shall constitute the demand charge for the ensuing Fiscal
Year and shall be billed by th e Authority and become due and
payable by each of the Contracting Parties and Future Contracting
Parties in twelve equal monthly installments as a part of the
monthly billing.
(b) The Authority may reduce the annual demand charge by
the amount of anticipated revenues to be received during the fiscal
year or by the amount of monies on deposit which monies resulted
from the interest or profits earned from the Reserve Fund,
as permitted by the Bond Resolution, and such revenues received
from the sale of water to Donley County Water Control and Improver
ent District No. 1 or the City of Memphis, Georgia-Pacific Corporation
or its successors, and the State of Texas Parks and Wildlife
Department.
Consumption Charge: The minimum annual deposit to be made
to the Sinking Fund as required by the Bond Resolution shall be
allocated to the Contracting Parties as a consumption Charge. Between
June 1 and June 15 of each year the Authority shall establish
the rate per 1,000 gallons of water for the succeeding Fiscal
Year by dividing the amount of deposit required to be made to the
Sinking Fund during such Fiscal Year, plus any accumulated deficiencies
in such deposits, by the aggregate number of gallons of water
distributed by all Contracting Parties during the then Fiscal
Year. As used in this Section, "water distributed" by the City
or Contracting Parties includes not only water purchased from the
Authority, but also water from each Contracting Party's source
of supply and other water distributed by the City ( including any
free water and water used by the Purchaser itself). The city
shall keep accurate records of water distributed by it, and such
records shall be subject to inspection by the Authority and by
holders of Bonds. The Authority will bill the City monthly for
the water actually delivered, at a rate to be established as herein
provided. This rate per 1,000 gallons of water shall be used
in billing Future Contracting Parties for water delivered to
them as a Consumption Charge.
(c) The Authority agrees that it will sell water to Future
Contracting Parties and the Donley County Water Control and Improvement
District No, 1 or the City of Memphis, Texas, at a price
not less than the annual Consumption Charge and Demand Charge that
the Contracting Parties pay for water from the Authority. It is
also understood that the Authority reserves the right to charge
Future Contracting Parties and Donley County Water Control and Improvement
District Nor 1 or the City of MemphisP Texas, for water
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Clarendon (Tex.). [City of Clarendon Ledger: Ordinances (207)-363], legal document, 2006~; (https://texashistory.unt.edu/ark:/67531/metapth38107/m1/39/: accessed April 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting City of Clarendon.