Common use of Annual Review of User Fees Clause in Contracts

Annual Review of User Fees. At least annually, but in no event later than six (6) months after the close of the previous Fiscal Year, the City shall review the adequacy of its User Fees to satisfy the requirements of Section 8.03 for the next succeeding Fiscal Year. If required by the Department, the City shall prepare a report of such review stating the City's opinion regarding the adequacy or inadequacy of the existing User Fees to satisfy the requirements of Section 8.03 and what action the City will take to satisfy such requirements, if any, and shall furnish a copy of such report to the Department upon its completion. If such review indicates that the User Fees are, or are likely to be, insufficient to meet the requirements of Section 8.03 for the next succeeding Fiscal Year, or if it otherwise appears at any time during such Fiscal Year that User Fees are or are likely to be insufficient to meet such requirements, the City shall promptly take such steps as are necessary to cure or avoid the deficiency.

Annual Review of User Fees. At least annually, but in no event later than six (6) months after the close of the previous Fiscal Year, the City shall review the adequacy of its User Fees to satisfy the requirements of Section 8.03 for the next succeeding Fiscal Year. If required by the Department, the City shall prepare a report of such review stating the City's opinion regarding the adequacy or inadequacy of the existing User Fees to satisfy the requirements of Section 8.03 and what action the City will take to satisfy such requirements, if any, and shall furnish a copy of such report to the Department upon its completion. completion.‌ If such review indicates that the User Fees are, or are likely to be, insufficient to meet the requirements of Section 8.03 for the next succeeding Fiscal Year, or if it otherwise appears at any time during such Fiscal Year that User Fees are or are likely to be insufficient to meet such requirements, the City shall promptly take such steps as are necessary to cure or avoid the deficiency.