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A. The rates for water sold by the Board to Little Canada under this Agreement <br />(“Charges”) shall consist of two components: <br /> <br />1) Water Service Base Fee <br />The Water Service Base Fee is intended to recover the fixed costs incurred <br />by the Board for its provision of water to Little Canada. The Water <br />Service Base Fee shall be charged monthly in accordance with the <br />following yearly schedule. <br /> <br />2023 $15,400/month (totaling $184,400) <br />2024 $16,500/month (totaling $198,000) <br />2025 $17,600/month (totaling $211,200) <br />2026 $18,500/month (totaling $222,000) <br />2027 $19,400/month (totaling $232,800) <br /> <br />2) Water Volume Charge <br />The Water Volume Charge is the product of a rate equal to 60% of the <br />lowest seasonal rate per one hundred (100) cubic feet charged to retail <br />water customers in the City of Saint Paul and the volume of water <br />provided to Little Canada at the Point of Delivery. The Water Volume <br />Charge shall be charged at the same time and frequency as the Water <br />Service Base Fee. <br /> <br />B. The parties agree to review the Charges every five (5) years or if a significant <br />change to the Board’s retail billing structure is implemented. This review shall <br />include a cost-of-service study, which shall review the return on Board assets, <br />asset allocations and other economic factors. All costs for this review shall be <br />shared equally by the Board, its other wholesale customers, and Little Canada. <br /> <br />C. Notwithstanding the above, if, whether as a result of such review or otherwise, the <br />Board changes its retail billing structure in any way, either of its own accord or at <br />the requirement of other governmental entities, both parties agree that the Charges <br />will be adjusted. All reasonable effort shall be taken to make sure this adjustment <br />shall not harm Little Canada by increasing Little Canada’s overall cost or harm <br />the Board by decreasing the Board’s overall revenue under the contract. <br /> <br />2. The effective date of this Amendment shall be January 1, 2023. <br /> <br />3. All other provisions of the original Agreement shall remain in full force and effect. <br /> <br />[The remainder of this page left intentionally blank.] <br />