New Capital Costs Sample Clauses

New Capital Costs. The District’s proportionate share of the Capital Improvement Costs for new structures, components, facilities and equipment, as well as their subsequent replacement and repair, to expand the capacity of or to comply with State-mandated regulations associated with the operation of the City’s Wastewater Treatment Plant shall be determined by using the proportion of the District sewage treated in the City’s Wastewater Treatment Plant as calculated in Section 2.02.B.1. herein (using the 12-month weighted running average ending the month prior to (i) the time the City closes on a loan for said capital improvement, (ii) when a capital improvement project reaches final completion, or (iii) sixty (60) days after substantial completion, whichever occurs first) and converted to District’s percentage amount for both cash payments or for the life on any loan, and any subsequent refinancing, taken by City for new capital improvements.