09-23-1987 Meeting - Laserfiche WebLink

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• 4.02 Operation and Maintenance Charges (i) The first Project operation period extends from the initial day of the delivery of water to the Authority through three (3) months into the first day of a Billing Period as defined in Section 1.04. During this first Project operation period, the Authority will pay a rate of $0.41 per thousand gallons of actual water usage, plus Excess Production and Pumpage Fees, if applicable, as its total 0 & M Expense. At the completion of this period, the Houston Director will cause an accounting to be made on the total 0 & M Expenses relating to this initial period. This accounting shall be delivered to the Authority Director. (ii) In the event the total 0 & M Expense requires a fee greater or lesser than $0.41 per thousand gallons, tt~e Authority shall pay any excess or Houston refund any overage as the case may be. The Authority shall fiat thirty (30) days after receipt by the Authority of Houston"s invoice for payment to review and approve the accounting of Houston. If not disputed, excess payment ' or refund as applicable shall be made. within sixty (60) days-after receipt by the Authority of Houston"-s mto~ice for payment. (iii) For, the remainder of the Contract term at three (3) -.;.:,calendar month.intervals~ or at such other interval as may be agreed to by the parties, tfie Houston Director shall compute the total Production and Pumping 0 ~ M Expense (and if applicable, any Excess Production or Excess Pumping Fee), for the preceding Billing Period. (iv) A rate for the Authority"s appropriate pra rata sfiare of • _~ total 0 & M Expense will be billed on-tfie.tenth (iQ~~~ • - day of the month following each three (~3;.3 .mosrth ~ z interval. Such rate shall•be based on an accounting using required data and the Authority shall be billed its pro rata share of actual gallons of water received. Such accounting data will be furnished to the Authority along with the invoice for payment. Any errors of accounting adjustments will be corrected and/or reflected in the invoice for the next Billing Period. 4.03 Failure to Pay When Due ten percent (10~) Should the Authority fail to tender payment within thirty (30) days of invoice of any 0 & M Expense (or any part thereof) or should Houston fail to refund any overpayment to tht ^~ithority within thirty (30) days of the date due, interest thereon shall accrue at the rate per annum from the date due until paid. of 15