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Fee increase shall be effective until the maximum Administrative Target Level is <br />achieved; provided, that the first three (3) percent increase shall be established <br />on or about December 31, 2000, or within sixty (60) days after sale of the <br />LAVWMA Bonds and receipt of the proceeds therefrom, whichever date is later, <br />and any successive annual three (3) percent increases shall be established on or <br />before September 30, 2001 and on or before September 30 in each successive <br />year, if necessary to achieve the Administrative Target Level. Nothing contained <br />in this paragraph 5 shall be deemed a limitation upon the determination of costs <br />which support annual adjustments to the Regional Connection Fees, such that <br />the amount thereof shall not exceed the costs of the Regional Facilities for which <br />such charges are expended. The parties hereby agree that the aforesaid three <br />(3) percent increase is a reasonable cost allocation corresponding to debt <br />service for the time period specified. <br />Notwithstanding the foregoing provisions of this paragraph 5, annual <br />adjustments to the Regional Connection Fee shall include, as a mandatory <br />element of cost to be paid from the revenue derived from said fee, amounts <br />sufficient to achieve the Bond Target Level and amounts sufficient to achieve the <br />minimum connection fee increases as described paragraphs 7(d) and (e) hereof. <br />The adjustment corresponding to the Administrative Target Level hereinabove <br />described shall include the adjustment sufficient to achieve the Bond Target <br />Level such that the combined adjustments shall not exceed five times (5x) the <br />Maximum Annual Expansion Projects Debt Service. Nothing contained in this <br />paragraph shall be deemed a limitation upon the determination of costs which <br />support annual adjustments to the Regional Connection Fees, so that the <br />amount thereof shall not exceed the costs of the Regional Facilities for which <br />charges are expended. The parties hereby agree that adjustments necessary to <br />achieve the Administrative Target Level (which is inclusive of the Bond Target <br />Agmt-41 9 <br />f/shish/DSRSD <br />DES:r <br />12/S~OOr <br />