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06/24/2013 <br /> cost would be apportioned to San Carlos for Year 2. As such, San Carlos <br /> would pay $270,000 (which represents 27% of$1 Million) for Year 2. <br /> (2) Increases and decreases in the actual cost incurred during any <br /> fiscal year shall be carried on the books of Redwood City as a credit or <br /> charge. Any payments by San Carlos in excess of actual cost shall be <br /> carried on the books of Redwood City as a credit against the Personnel <br /> Staffing costs in the following fiscal year, with one quarter of the amount <br /> applied in each of the four quarterly payments. Any shortfall in payment <br /> of actual costs shall be added to the Personnel Staffing costs in the <br /> following fiscal year, with one quarter of the amount applied in each of the <br /> four quarterly payments. <br /> (ii) San Carlos shall pay a two percent (2%) increase (from the <br /> immediately preceding year) in the Supplies and Services costs associated with <br /> providing the Services (which are included in Exhibit "C", Item E): The payment <br /> shall be reconciled against actual costs at the end of the fiscal year. Any payments <br /> by San Carlos in excess of actual cost shall be carried on the books of Redwood <br /> City as a credit against the Supplies and Services costs in the following fiscal <br /> year. Any shortfall in payment of actual cost shall be added to the Supplies and <br /> Services costs in the following fiscal year and will appear in the first quarterly <br /> invoice of that fiscal year. <br /> (iii) San Carlos shall pay the CaIPERS Unfunded Liability associated with <br /> providing the Services (which are included in Exhibit "C", Item F) as set forth in <br /> the following"Unfunded Liability Schedule": <br /> Year l: No CaIPERS Unfunded Liability <br /> Year 2: 10% of the"Unfunded Rate" or its equivalent as <br /> shall be provided by Ca1PERS <br /> Year 3: 20%of the "Unfunded Rate" or its equivalent as <br /> shall be provided by Ca(PERS <br /> Year 4: 30%of the "Unfunded Rate" or its equivalent as <br /> shall be provided by CaIPERS <br /> Year 5: 40%of the "Unfunded Rate" or its equivalent as <br /> shall be provided by Ca(PERS <br /> (c) An updated Exhibit "C" shall be prepared annually by Redwood City. <br /> San Carlos shall have thirty (30) days to review the proposed updated Exhibit "C" with the <br /> understanding that the Unfunded Liability cost shall reflect the Unfunded Liability Schedule <br /> under Subsection 2(b)(iii) and the workers' compensation cost shall reflect the terms of <br /> Subsection 2(b)(i)(1), and such costs are not subject to annual review by San Carlos. If San <br /> Carlos objects to any element of the proposed updated Exhibit "C", the Participating Agencies <br /> shall meet and confer to resolve the outstanding issues. If agreement is not reached within thirty <br /> (30) days, then the parties shal( mediate any disputes as set forth in Section ]5. Until resolution <br /> of any differences on the proposed updated Exhibit "C", San Carlos shall pay the undisputed <br /> amounts due. Within thirty (30) days fol(owing an agreement on the revised cost of Services, the <br /> ATTY/AGR/2013.101/AMENDED AND RESTATED SAN CARLOS- RWC FIRE AGREEMENT <br /> REV:06-19-13 VR <br /> Page 3 of 19 <br /> RESO.15272 <br /> MUFF#304 <br />