Annual Escalator. The Annual Base Fee described in Subsection 8(a) shall increase by six percent (6%) annually during the term of the Agreement to reflect inflation and increasing service costs. [The annual fee payable by the District to the City for each of the contract years 2 through 5 = Annual Base Fee plus the Annual Escalator (0.06 times the Annual Base Fee). But see below for the addition of fees for residential and commercial growth, if applicable.]
Appears in 2 contracts
Sources: Fire Protection Agreement, Fire Protection Agreement