Agmt99 South Bayside Sys... (2) - Laserfiche WebLink

Browse Search

Base Rate"). Upon commencement of the second, third, and (if applicable) each successive Term Year (the "Adjustment Date"), the FS Base Rate shall be increased by one hundred percent (100%) of the percentage of increase, if any, of the Consumer Price Index ("CPI") for all Urban Consumers, Pacific Cities, and United States Cities Average, All Items (base years 1982-1984 = 100), published by the United States Department of Labor, Bureau of Labor Statistics for the year ending April 30 immediately preceding the Adjustment Date as compared with the CPI for the immediately prior year ending April 30. City shall calculate the amount of said increase after the United States Department of Labor publishes the statistics on which the amount of increase will be based. City shall give Authority written notice of the amount of percentage increase and the corresponding Adjusted FS Base Rate as soon as the CPI has been published. Thereafter, Authority shall compensate City for the financial services in an amount equal to the Adjusted FS Base Rate (including amounts accruing prior to notice of the adjustment, if any) for the term year in which such Adjusted FS Base Rate applies. (b) Information Technoloay. Authority shall compensate City for the information technology services described in Exhibit "A" furnished for the First Term Year on an hourly basis at the rate of Seventy Dollars ($70) per hour (the "IT Base Rate") for the first 170 hours of services furnished during said Year, and at the IT Base Rate plus an amount equal to eighteen percent (18%) thereof for each hour of services furnished in excess of 170 hours. Authority shall compensate City for information technology services in the Second, Third, and, if Agmt-O12 F:\sh/sh/SBSA 7/15/99 DES:mge;rg 2 ._.,--" H'" "-",, ,". . .~".~ ..