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the scope of said meetings, the committee shall include in the subject matter thereof <br /> the establishment and periodic review of a list of projects which are to be funded <br /> with the revenues from the uniform regional connection fee imposed by the parties <br /> within their respective sewerage service areas pursuant to the provisions of <br /> Paragraph 10(a) of the Basic Agreement. The committee shall endeavor to agree <br /> upon, and assign, priorities to said projects. <br /> (b) Expenditure Policies Governing Projects. The priorities assigned by <br /> the committee aforesaid shall govern District's expenditures of the revenues from <br /> the uniform regional connection fee pursuant to the provisions of Paragraphs 11(c) <br /> (Expansions) and 11(d) (Capacity Acquisitions) of the Basic Agreement. However, <br /> if one party objects to the expenditure of revenues from the uniform regional <br /> connection fee for a particular project, such revenues may be used for the project <br /> to which objection has been raised; provided, that there is no adverse financial <br /> impact to the objecting party. "No adverse financial impact" as used herein means <br /> that funds equal to the amount of net uniform connection fee revenues attributable <br /> to the objecting party's sewerage service area which would have been allocated to <br /> the project but for such objection, plus interest, will be available for the objecting <br /> party's alternative project (i.e., any regional project providing Treatment or Disposal <br /> Capacity to which the objecting party assigns a higher priority or which otherwise <br /> is designated by the objecting party) when needed for that project. Interest on such <br /> funds shall be calculated at the average annual rate of interest paid on funds <br /> deposited with the Local Agency Investment Fund in the State Treasury <br /> (established pursuant to Government Code Section 16429.1) over the time the <br /> aforesaid net revenues are allocated to the project to which objection has been <br /> made. <br /> Objection to a project shall be written and, to be effective, must be received <br /> by the non objecting party no later than sixty(60) days from the date of the first <br /> planning meeting (as provided in Paragraph 6(a)) from the date of District's project <br /> approval either under CEQA or pursuant to District's determination that the project <br /> is not subject to CEQA; provided, however, that if City, in its sole discretion, <br /> determines that the question of City's participation in the project shall be submitted <br /> to the electorate (which determination must be made within the aforesaid sixty (60) <br /> Agmt -10b 12 <br /> 8/27/97 <br />