HomeMy Public PortalAboutORD10941 BILL NO. 87-110
SPONSORED BY COUNCILMAN BORGMEYER
ORDINANCE NO. _ O 5` 411
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE A MODIFICATION TO THE WASTEWATER
CONTRACT OF APRIL 17, 1980, WITH COLE COUNTY REGIONAL SEWER
DISTRICT.
BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI,
AS FOLLOWS:
Section 1. The Mayor and Clerk are hereby authorized and
directed to execute a Modification to the Wastewater Contract of
April 17, 1980, with Cole County Regional Sewer District.
Section 2. The modificaton shall be substantially the same
in form and content as that modification attached hereto as
Exhibit A.
Section 3. This Ordinance shall be in full force and effect
from and after the date of its passage and approval.
Passed �c ¢ -''�- 7 /�87 Approved
.� a �•Caw�s,.LCd3Q.LL/
Pres in f f icer Mayor
ATTEST:
City, .Clerk
e;
a '
4'
MODIFICATION TO WASTEWATER CONTRACT OF APRIL 17, 1980
This Modification, made and entered into this /D day
of 1987, by and between the City of
Jefferson, Missouri, (hereinafter "City" ) and the Cole County
Regional Sewer District (hereinafter "RSD" );
WITNESSETH:
WHEREAS, since the date the original contract between the
parties was executed, the facilities "hereinafter to be
constructed" referred to in Section 4 thereof have been
constructed and the construction costs thereof fully
determinable; and
WHEREAS, the Cole County Regional Sewer District commenced
operation of its collection lines on. or about September 1, 1986;
and
WHEREAS, the RSD desires and the City is agreeable to modify
their existing agreement,
NOW THEREFORE the parties agree as follows:
1. Modifications to Section
Section 4 of the wastewater contract is hereby deleted and
in lieu thereof the parties agree to the following:
Section 4 - Capital Recovery Charge
The District hereby agrees to pay to the City an annual
charge for the right to utilize the capacity of the City
wastewater system that will be used in part or in whole by
the District. This charge shall be due and payable in equal
monthly installments on the first day of each month in
accordance with the following "Schedule of Capital Recovery
N
Payments" .
1p SCHEDULE OF CAPITAL RECOVERY PAYMENTS
For Facilities Constructed as part of the Project:
An annual charge of $13,001.87 to be paid monthly
beginning January 1, 1988, for a period of 28 years and
8 months.
For Facilities Herein Before Constructed:
An annual charge of $22,001.68 to be paid monthly
beginning September 1, 1988, for a period of 28 years.
2. Calculation of Capital Recovery Charge The parties
mutually acknowledge and agree that the capital recovery charge
is the method by which -the District intends to repay the City for
expenses incurred by the City in constructing those "facilities
herein before constructed' 'and hereinafter to be constructed
described on page 10 of the parties' earlier agreement. The
amount of the charge per month was calculated per the formula and
method set forth in Schedule B hereto which is incorporated by
reference herein.
3. In all other respects, the original contract shall
remain as originally written.
J
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IN WITNESS WHEREOF, the parties have set their hands and
qP affixed their official seals on the date first above written.
CITY OF JEFFERSON, MISSOURI
By:
ott rd Mayor
ATTEST:
City Clerk
(SEAL)
COLE COUNTY ONAL SEWER TRICT
By:
aymo r met
Receiver
ATTEST:
i
.,(Sea-1)
Ordinance No.
, is
EXHIBIT B
Aft PHASE I (2 year delay)
1 year $ 18,400.00 Base Charge
736.00 8% interest for first 12 months
19, 136.00
1, 530.00 8% interest for second 12 months
$20, 666.00 Sub Total
2 year $18,400.00 Base Charge
736.00 8* interest for 12 months
$39,802.00
.09049 Amortized over 28 years at 8%
$ 3, 601.68 ANNUAL ADDITIONAL CHARGE
Phase II (1 year 4 month delay)
$129,079.44 County Obligation
.08883 Amortized over 30 years at 8*
$ 11,466.1.2 Annual Payment
1 year $ 11,466.12 Base Charge
458. 64 8* interest for 12 months
$ 11,924.76
317.96 8% interest for 4 months
$ 12,242.72
4 months 3,822.04 Base Charge $955.51 x 4 months
50.96 8* interest for 4 months
$ 16, 115.72 Amoritized over 28 yrs. 8 mos. at 8%
$ 1,535.75 ANNUAL ADDITIONAL CHARGE