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COMPENSATION <br /> The Transfer Station fee during 1995 will be $27 . 00 per <br /> ton of solid waste delivered by the City of Batesville to the <br /> Independence County Transfer Station. The transfer station fee <br /> includes all Independence County costs associated with owning, <br /> operating, and maintaining the Transfer Station, and disposing of <br /> the solid waste. Monthly invoices will be submitted by <br /> Independence County to the City of Batesville for the transfer <br /> station fee, and the invoice will be due and payable within 30 days <br /> of receipt of the invoice. <br /> Transfer station fees for 1996 and beyond will be <br /> determined on an annual basis based on annual Transfer Station <br /> budgets to be developed by Independence County and reviewed by the <br /> City of Batesville. The budget and methodology for determining the <br /> following year Transfer Station fee will be submitted to the City <br /> of Batesville by December 1 of the previous year. It is <br /> anticipated that the annual budget will include landfill disposal <br /> fees and debt service, operation, maintenance, and reserve costs <br /> associated with owning, operating, and maintaining the Transfer <br /> Station. <br /> (a) The City agrees that, for the term of this Agreement, all <br /> solid waste collected by the City shall be delivered to the County <br /> and that the rate charged for receipt of such solid waste shall be <br /> at all times a rate sufficient to produce revenues equal to not <br /> less than 60% of the operating and depreciation costs of the <br /> Transfer Station and 60% of the debt service on revenue bonds (the <br /> "Bonds") to be issued by the County, in the principal amount of not <br /> more than $600 , 000 and payable, as to principal and interest, in <br /> the amount of not more than $36, 000 per quarter(referred to herein <br /> as the "Minimum Payment Obligation") . The Minimum Payment <br /> Obligation may be adjusted no less frequently than annually on the <br /> basis of actual usage, provided that the total of all fixed payment <br /> obligations of municipalities and others now or hereafter served by <br /> the Transfer Station shall never be less than the amounts set forth <br /> above. <br /> (b) The pecuniary and other obligations of the City under <br /> this Agreement shall not be general obligations of the City but <br /> shall be special obligations, secured solely by and payable solely <br /> from the revenues of the City's solid waste collection system (the <br /> "City System") , which revenues are hereby pledged to the payment <br /> and performance of the City's obligations under this Agreement, <br /> subject to any pledges in favor of bonds of the City outstanding on <br /> the date hereof which are secured by a pledge or pledges of City <br /> System revenues (the "Prior Obligations") . <br /> (c) The City recognizes that the rights and powers of the <br /> County under this Agreement are assigned to the holders of the <br /> Bonds and the Trustee for such holders, pursuant to the Ordinance <br /> of the County authorizing the Bonds (the "Authorizing Ordinance") , <br /> and the City agrees that the obligations of the City hereunder may <br />