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6.1. - Page 12 of 20 <br />EXHIBIT "B" <br />Financial Contribution to Operating Costs <br />In accordance with Section 1 of the Agreement, the City will contribute funding to the <br />operating costs of the Library as follows. For clarity, each fiscal year ("FY") begins on July <br />1 and concludes on June 30 of the subject year. <br />Year 1 (16 month period) (March 15, 2021 — June 30, 2022): $0. <br />Year 2 (FY 2022-23): $400,000 (to be referred to as the "base contribution") <br />Years 3 — 5 (FYs 2023-24 through 2025-26): The contribution for years 3 through <br />5 shall be increased or decreased by the percentage increase or decrease in the <br />Consumer Price Index for the San Francisco -Oakland -San Jose area ("CPI") over <br />the prior year, as of December 1 of the previous fiscal year. <br />Years 6 — 10 (FYs 2026-27 through 2030-31): The contribution for years 6 through <br />10 shall be increased or decreased by the percentage increase or decrease in the <br />CPI over the prior year, as of December of the applicable fiscal year, unless, <br />pursuant to Section 1.e. of the Agreement, the City is following the "Years 6 — 10 <br />Adjusted Payment Schedule" as follows: <br />• Year 6 (FY 2026-27): Base contribution shall be adjusted if City contribution <br />is more than or less than 50 percent of the Library operating costs, for a <br />level of service similar to that provided by the City in Fiscal Year 2018-19 <br />(50 hours of service per week), during the prior fiscal year (FY 2025-26). <br />This amount shall be referred to as the "Year 6 base contribution." <br />• Years 7 — 10 (FYs 2027-28 through 2030-31): The contribution for years 7 <br />through 10 shall be increased or decreased by the percentage increase or <br />decrease in the CPI as of December 1 of the previous fiscal year. <br />Said contributions shall be made from the City to the JPA on a semiannual basis. Each <br />semi-annual payment shall be tendered to the JPA within thirty (30) days of the <br />commencement of that portion of the fiscal year. <br />ATTY/AGR/2021.016/FAIR OAKS LIBRARY SERVICE AGREEMENT <br />REV: 02-08-2021 VR <br />Page 7 of 7 <br />410 <br />