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91-047 Ordinance
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91-047 Ordinance
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1/11/2014 12:56:58 PM
Creation date
12/30/2013 10:59:58 AM
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North Olmsted Legislation
Legislation Number
91-047
Legislation Date
4/3/1991
Year
1991
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Debt, calculated as follows for each bond issue or loan obligation constitut- <br />ing Joicit Use Facilities Debt as set forth under the columns Beaded "Fairview <br />Park Debt Service" in Appendix I to this Capital Agreement: <br />Debt x Joint Use x Service Area Daily Flow <br />Service Percentage Total Design Capacity <br />(b) "Debt Service" means the aggregate of the principal of and in- <br />terest., or loan payments, due on each obligation constituting Joint Use Facil- <br />ities Debt with respect to that Payment Date as set forth in Appendix I to <br />this Capital Agreement; <br />(c) "Joint Use Percentage" means the percentage of that bond issue <br />or-loan obligation relating to Joint Use Facilities, being 94.7342% with re- <br />spect to tt~e 1985 Bonds and 68.09X with respect to the 1970 OWDA Loan; <br />(d) "Service Area Daily Flow" means the average daily flow of waste- <br />water from tl~e Service Area to the North Olmsted Sanitary Sewer System during <br />1987; "Total Design Capacity" means the current total design capacity for <br />daily flow of the wastewater treatment plant of the North Olmsted Sanitary <br />Sewer System; and the ratio of the Service Area Daily Flow (366,509.589 gal- <br />lons per day) to the Total Design Capacity (7,000,000 gallons per day) equals <br />5.2359X. <br />(e) "Capital Surcharge" means the surcharge due on that semiannual <br />Payment Date, representing compensation to North Olmsted for Fairview Park's <br />share of prior payments made by North Olmsted on Joint Use Facilities Debt, in <br />the amount set forth under the column headed "Capital Surcharge" in Appendix I <br />to this Capital Agreement. <br />- 6 - <br />
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