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e . ARTICLE 4 OPERATION AND MAINTENANCE CHARGES 4.1 In General It is expressly understood by the Participants to this Agreement that the Participants shall directly reimburse the Managing Participant on a periodic basis for the expenses incurred in producing and pumping the water delivered to the Participants. Each Participant pledges to enact rates and fees for its customers sufficient to pay the O&M Expenses. 4.2 Operation and Maintenance Char~es 4.2.1 Each Participant shall pay O&M Expenses in arrears monthly at the rate per thousand gallons established in the then-cun:ent Annual Budget established under Section 3.4 and Exhibits "E," "E Pasadena" and "E LaPorte Area Water Authority," plus applicable costs for any shared debt service and transmission maintenance costs. '4.2.2 The Managing Participant will bill each Participant on or about the tenth (lOth) day of the month at the rates calculated as provided herein. Each quarter, the Managing Participant shall prepare a cost accounting of the O&M Expenses that shows the actual O&M Expenses for each Participant as well as the amount of O&M Expenses paid by the Participant. The accounting is for the purpose of information only, except the final yearly accounting described in Subsection 4.2.3. 4.2.3 Within 180 days of the close of the Managing Participant's fiscal year, the Managing Participant shall prepare an accounting of the O&M Expenses. The Managing A:\EWBI097S.RVI L.D. File No. 80-99146-01 February 9, 2000 27 ~ i i i I 1- ! o .. .' "".~.