07-1772 Residential Solid Waste Rate Adjustment

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( ) ('; . Exhibit 2 Residential Solid Waste and Recyclable Collection Services Basis For Adjusting Collection Payment After First 12 Months of Contract Beginning January I n the second year of the Contract and annually thereafter through the final year of Contract, the Amount paid by the City to the Contractor for Residential Solid Waste and Recyclable Collection Services per Residential Premise and the Contractor's charge per cubic yard collection of Additional Trash and Vegetative Waste in the first year of the Contract may be adjusted, if approved by the City Commission, based on the following factors: Fifty percent of the percent change in the consumer price index, All Urban Consumers, South urban, all items, Annual average during the calendar year preceding the previous calendar year to the previous calendar year Plus Ten percent of the percent change in Consumer Price Index, AIl Urban Consumers, South Urban, Gasoline ( all types), and Annual average during the calendar year preceding the previous calendar year to the previous calendar year. . The source of the consUmer price .indices applied in the annual adjustment to the Collection Payment shall be the U. S.Bureau of Labor Statistics. Attachment I to this Exhibit show the sources of consumer price indices. Attachment 2 to this Exhibitillustratesthe.procedure by which the Collection Payment shall be adjusted after the first 12 months of the Contract. . Each adjustment, if approved by the City Commission shall be applied effective January I to the Amount paid the previous year, and shall be in effect for the following 12-month period. The Amount paid per Residential Premise shall be extended to all Residential Premises served by the Contractor, based on Residential Premise counts provided by the City in accordance with provisions of the Service Agreement. ~' 24