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<br />6.3C <br />Page 5 <br /> <br />other things. compensate the C"ity for impacts related to the construction and operation <br />of the SRDC Facility within the City. The Franchise Agreement expired in 2004. <br />Notwithstanding, its expiration, the City has continued to receive five percent (5%) of <br />Gate Fee Revenues received at the SROC Facility.. Moreover, the Authority's JOint <br />Exercise of Powers Agreement, as Amended and Restated in December 2005, provides <br />in relevant part; "Monthly, SBWMA shaJl distribute to the City of San Carlos from funds <br />received from Contractor (Le" the operator of the SRDCFaciJity), one twelfth (1/12th) of <br />the annual franchise fee agreed to by SBWMA and the City of San Carlos for the <br />operation of the Facilities." <br /> <br />F. The purpose of this Agreement is to memorialize the agreement between <br />the City and the Authority referred to in the Amended and Restated Joint Exercise of <br />Powers Agreement despribed in Recital E, with respect to the ftanchise fee. <br /> <br />THE pARTiES AGRE~ AS FOLLOWS: <br />1. FRANCHISE FEE <br /> <br />A. Amount. The Authority shall pay to City an amount equal to five percent <br />(5011}) of the Gate Fee Revenue received by the Authority (or by the company which <br />operates the SRDC Facility under contract to the Authority) for the delivery of materials <br />to the SRDC Facility for processing and/or disposal. "Gate Fee Revenue" means funds <br />attributable to the delivery of materials for deposit at the SRDC Facility for transfer <br />and/or processing. Gate Fee Revenue specifically includes all gate fees paid by <br />franchi~d haulers delivering materials collected within the members of the Authority, as <br />well as gate fees paid by self-haul customers. "Gate Fee Revenue" does not, however, <br />include any sums received by the Authority from the sale of Recyclable Materials or <br />from the operator as liquidated damages or other payments related to inadequate <br />performance by the operator. <br /> <br />B. Timinaof Payments. Payments will be made monthly, on or before the <br />fifteenth (15th) of ea"eh month. If the due date falls on a. weekend or holiday, payment <br />shall be due on the first day thereafter on which the City's business office is open. The <br /> <br />384,'061162-0003 <br />925393.11sli011011Ot <br /> <br />-2- <br />