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<br /> <br /> <br /> <br /> <br /> <br /> <br /> Section 1.C., and (2) the cost of participation in the Authority's vehicle replacement / <br /> depreciation program as set forth in Article VI, Section 1.D. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> E. Cap on Annual Adjustments. Except for the costs excluded from <br /> <br /> the Service Charge as set forth in Article IV, Section 3.B, and the costs set forth in <br /> <br /> Article IV, Section 3.1-1. and Article VI, Section 1.B., no annual cost adjustment to the <br /> <br /> Service Charge shall exceed four and one half percent (4.5%) of the annual cost for <br /> <br /> operational services provided to the City for the preceding year. In any year in which <br /> the actual cost increase for operational services exceeds four and one half percent <br /> <br /> (4.5%), the excess amount shall be recorded (i.e., banked) and paid in a subsequent <br /> <br /> year in which the Service Charge cost adjustment is less than the four and one half <br /> <br /> percent (4.5%) cap. If only a portion of this excess amount can be paid in one year <br /> <br /> while remaining under the four and one half percent (4.5%) cap for that year, the <br /> <br /> remainder shall be carried over from year to year until it is paid in its entirety." <br /> <br /> <br /> <br /> 2. Article IV, Sections 3.E.(1) and (2) are deleted. <br /> <br /> <br /> 3. Article IV, Section 3. F. shall be replaced with the following: <br /> <br /> <br /> <br /> "F. Modifications to the Service Charge. Beginning with fiscal year <br /> <br /> 2014/2015, and every five years thereafter, data will be compiled to review the actual <br /> <br /> <br /> <br /> 4 <br /> 554594.1 <br /> 60C-48 <br />