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Res 1992-147
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Res 1992-147
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7/12/2007 2:44:47 PM
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7/12/2007 2:44:47 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
1992-147
Date
12/14/1992
Volume Book
109
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<br /> ;2) J <br /> 13.02 Modification to Rates <br /> (a) The fees which may be charged by the Contractor <br /> for the second and subsequent years of the term <br /> hereof shall be adjusted upward or downward to <br /> reflect changes in the cost of operations, as <br /> reflected by fluctuations in the Consumer Price <br /> Index for Urban Wage. Earners and Clerical <br /> Workers (All Items) and the Consumer Price Index <br /> for Urban Wage Earners and Clerical 'Workers, <br /> Expenditures Category "Gasoline", both as <br /> published by the U.s. Department of Labor, <br /> Bureau of Labor Statistics. As of the last <br /> month of the first year of the Contract and <br /> every twelve (12) months thereafter (the "Rate <br /> Modification Daten), the fees shall be increased <br /> or decreased for the ensuing twelve-month period <br /> in a percentage amount equal to 90 percent of <br /> the net percentage change of the All Items Index <br /> plus 10 percent of the net percentage change of <br /> the Gasoline Index. All percentage changes are <br /> to be computed as the difference between the <br /> index value for the first full month prior to <br /> the conunencement of the Contract and the index <br /> value for the Rate Modification Date divided by <br /> the index value for the first full month prior <br /> to the conunencement of the Contràct. <br /> (b) As soon as possible after a Rate Modification <br /> Date, Contractor shall send to City a compara- <br /> tive statement setting out for both the All <br /> Items Index and the Gasoline Index (i) the index <br /> value on the first full month prior to the <br /> conunencement of the Contract¡ (ii) the index <br /> value on the Rate Modification Date preceding <br /> the date of the statement¡ (iii) the net <br /> percentage change; (iv) the composite percentage <br /> change equal.to the net percentage change in the <br /> All Items Index plus the net percentage change <br /> in the Gasoline Index¡ and (v) the increase or <br /> decrease in the fees which may be charged by the <br /> Contractor. On the next billing date after the <br /> receipt of the comparative statement, the City <br /> shall pay to the Contractor or the Contractor <br /> shall credit to the City, as the case may be, a <br /> lump sum equal to any increase or decrease <br /> applicable to that portion of the current period <br /> which has elapsed and, thereafter, the fees <br /> charged by the Contractor shall be modified to <br /> reflect any change until a different comparative <br /> statement is received by the City. <br /> (c) In addition to the above, the Contractor may <br /> petition the City at any time for additional <br /> rate and price adjustments at reasonable times <br /> 18572 - 13 - <br />
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