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ARTICLE 4 <br />4.1 bLQS=d <br />E <br />It is expressly understood by the Participants to this Agreement that the Participants shall <br />directly reimburse the Managing Participant on a periodic basis for the expenses incurred in <br />producing and pumping the water delivered to the Participants. Each participant pledges to enact <br />rates anal fees for its customers sufficient to pay the O&M Expenses. <br />4.2.1 Each Participant shall pay O &M Expenses in arrears monthly at the rate per <br />thousand gallons established in the then - current Annual Budget established under Section 3.4 <br />and Exhibits "E," "E Pasadena" and "E LaPorte Area Water Authority,' plus applicable costs for <br />any shared debt service and transmission maintenance costs. <br />4.2.2 The Managing Participant will Dill each Participant on or about the tenth (I 0th) <br />day of the month at the rates calculated as provided herein. <br />Each quarter, the Managing Participant shall prepare a cost accounting of the O&M <br />Expenses that shows the actual O &M Expenses for each Participant as well as the amount of <br />O &M Expenses paid by the Participant, The accounting is for the purpose of information only, <br />except the final yearly accounting described in Subsection 4.2.3. <br />4.2.3 Within 180 days of the close of the Managing Participant's fiscal year, the <br />Managing participant shall prepare an accounting of the O&M Expenses, The Managing <br />MEW010975.1LV1 <br />L.D. Flis No. $049146 -01 <br />Febtuny 9, 2GOO <br />r . <br />,I <br />27 <br />