Agmt00 MBIA - Laserfiche WebLink

Browse Search

5. CITY's RESPONSIBILITIES To facilitate and maximize the effectiveness of the above compliance review activities, the CITY shall diligently assist MMC by perfonning the following: A. Necessary Information. The CITY will provide MMC, on a timely basis, with infonnation necessary to conduct its compliance review activities including but not limited to: monthly UUT payment histories, exemption lists, and SB 278 gas and electric lists (including names of customers refusing to pay surcharges), and certified copies of the UUT ordinance and any subsequent amendments. B. Letter of Authorization. The CITY will provide a letter of authorization identifying MMC as an authorized agent of the CITY to perfonn utility users tax compliance audits, to receive and examine appropriate utility and customer records (hard copy and data fonnat) necessary to assure UUT tax compliance, and to execute necessary nondisclosure agreements approved by the CITY. C. Legal Interpretations of Ordinance. Upon request, the CITY will provide MMC with appropriate legal and administrative interpretations of its UUT ordinance. It is agreed and understood that the CITY will retain the exclusive authority and responsibility to administer, interpret, and enforce its UUT ordinance, recognizing that the role of MMC and LAW FIRM is limited to employing their unique expertise and proprietary tools for: i) detecting and identifying errors/omissions by utility service providers or utility users in the application, calculation, collection, and/or remittal of UUT; and, ii) providing the CITY with technical assistance, without assuming or being delegated the authority or responsibility of the CITY to administer, interpret, and enforce its UUT ordinance and standard utility franchise agreements. 6. COMPENSA TIONffERM A. Annual Fixed Fee 1. Total Annual Fixed Fee. The CITY's total annual fixed fee for participating in the PROGRAM shall be the greater of: i) one-half percent (0.5%) of the total UUT revenues received by the CITY (excluding UUT revenues derived from CATV) based on the prior fiscal year, or ii) ten thousand dollars ($10,000). 2. Allocation of Annual Fixed Fee. Said annual fixed fee payment shall be allocated, and paid separately, to LAW FIRM and MMC as follows: i) to LA W FIRM, the greater of one-eighth of one percent (0.125%) of the total UUT revenues or five thousand dollars ($5,000), as reflected in a separate attorney/client agreement with the CITY, and ii) to MMC, one-half of one percent (0.5%) of the total UUT revenues less the amount allocated and paid separately to LAW FIRM. At any time, LAW FIRM and MMC may, by mutual agreement, adjust their proportional share of said total annual fixed fee, provided that such parties shall provide prior written notice of such adjustment to the CITY. Agmt-412 F:/S hared/Redwood/C cunei! FXS:djk I 0113100 6