55-65 Agreement w/ Cleveland to build sewage treatment plant

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10 o 11o 13o shall be shared by LAKEWOOD and CLEVELAND as follows: LAKEWOOD to pay 75.4% and CLEVE~ND to pay 24o6% of such costs, these percentages being approximately the shares borne by each City of total construction costs of the new facility being completed in 1965o Projects of this nature must be submitted to and approved by the City of Cleveland before being carried out° Capital expenditures which may be necessary because sewage flows to the Lakewood Sewage Treatment Plant are in excess of its designed capacity and which are re- quired in the judgment of the Health Department of the State of Ohio shall be financed by LAKEWOOD and CLEVELA~ in the sameproportion that their excess flows over theiz assigned volumes are of the total additional capacity which must be constructed. In other words, if increased capacity is made necessary entirely because of excess of flow from either City, that City shall pay the entire cost of construction, if it is made necessary because of excess flows from both cities, each city shall pay its proportionate share of the cost of construction° If additional capacity is constructed which is greater than the combined excess flows of beth communities, the assignment of this additional capacity to each community shall be proportional to each community's contribution of excess flows. Capital expenditures of this nature must be submitted to and approved by the City of Cleveland before being carried out. LAKEWOOD shall establish a system of accounting for operation and maintenance costs in such detail form as to be satisfactory to CLEVELAND~ Financial statements and data are to be submitted by LAKEWOOD to CLEVELAND at the end of each calendar year, and the followin~ information and data are to be submitted. ao Balance Sheet. Income and Expense Sheet statement including supporting data on large expenditure items such as payroll, electric power and chemical costs° Statement Of Cash Receipts and Cash Disbursements° Data on sewage flow treated and flows from the Cleveland-west Park area. Billing Of operation and maintenance costs as provided for in Items 6, 7 and 8 shall be done on an estimated quarterly basis, with the last quarter of the year terminating December 31. Payments are to be made within 30 days of billing date° The April ist billing of eac~ year shall also reflect the final adjustments that will be necessary to convert estimates to actual costs for the previous calendar year°