SCSP Agreement - June 26 1969 JPA

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of the Joint Facilities paid for by it as provided in Sections 11 and 13. Thereafter, annually, and not later than June 30 of each year, commencing with the year 1969, the portion of the Joint Facilities used by it which each city owns or is to own shall be redetermined in the following manner: The ratio of the assessed valuation of each city to the combined assessed valuations of all of the cities shall he calculated for each of the three preceding fiscal years, and the ratio of the gallonage of sewage and effluent deposited into the Joint Facilities by each of the cities to the total of such sewage and effluent deposited by all of the cities shall be calculated for each of the three preceding years. For each of the cities the three assessed val-,iation ratios and the three gallonage, ratios shall each be added and divided by three; the two averages thus calculated shall be added and divided by two. The resultant percentage for each city shall be the undivided percentage of the joint Facilities owned by such city. Until the Joint Facilities have been in operation for three years, the gallonage ratios shall be calculated based on the year or years for ,.,hich the Joint Facilities have been in operation plus additional ratios for sufficient preceding years to equal three years, such additional ratios to he obtained by dividing the gallonage of sewage and effluent deposited by each of the cities in any treatment and disposal facilities by the total such gallonage deposited by all of the cities in any such facilities. The assessed valuation of each city for the purposes of tnis agree- ment shall be determined in accordance with the description of the service area of each city as set forth in Table 3 of a report on financing prepared by Stone & Youngberg, financial consultants to the cities, dated January 18, 1960, provided, however, that San Carlo-; shall include all of the service area ::: I ' � I'll ,, IPO ,A, �'�CJ