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Rate Year Three (July 1, 2024 - June 30, 2025) 2.25 % <br />Rate Year Four (July 1, 2025 - June 30, 2026) 2.25% <br />Beginning with Rate Year Five (July 1, 2026 - June 30, 2027), and throughout the <br />remaining term of this Agreement and any extensions thereof, Contractor shall only <br />receive annual rate adjustments based on Sections 6.4.2 through 6.4.5, unless the City <br />approves an extraordinary rate adjustment as described in Section 6.5. <br />6.5 Extraordinary Adjustments <br />Contractor or City may request an adjustment to maximum rates at reasonable times <br />other than that allowed under Section 6.3 in the event of extraordinary changes in the <br />cost of providing service under this Agreement. Such changes shall not include <br />changes in the market value of Recyclables from the values assumed in Contractor's <br />Proposal, inaccurate estimates by the Contractor of its proposed cost of operations, <br />unionization of Contractor's work force, or change in wage rates or employee benefits. <br />Contractor may request an extraordinary adjustment based on changes in a direct per <br />ton fee assessed at the Disposal Site by federal, state or local regulatory agencies after <br />the effective date. Extraordinary rate adjustments shall only be effective after approval <br />by City Council in compliance with California Constitution Article XIIID (Proposition <br />218) and the Proposition 218 Omnibus Implementation Act (Govt. Code Sections 53750 <br />et. seq.) and may not be applied retroactively. <br />For each request for an adjustment to the maximum rates that Contractor may charge <br />Customers brought pursuant to this section, Contractor shall prepare a schedule <br />documenting the extraordinary costs. Such request shall be prepared in a form <br />acceptable to City with support for assumptions made by Contractor in preparing the <br />estimate. Contractor shall also submit a schedule showing how its total costs and total <br />revenues have changed over the past three years for the services provided under this <br />Agreement. <br />Contractor shall provide to City a report of its annual revenues and expenses for the <br />services provided in the City, and City shall have right to audit this information in <br />connection with the City's review of Contractor's rate adjustment request. City shall <br />review the Contractor's request and conduct a duly -noticed public hearing as required <br />by California Constitution Article XIIID (Proposition 218) and the Proposition 218 <br />Omnibus Implementation Act (Govt. Code Sections 53750 et. seq.). If, after closing the <br />August 17, 2021 118 City of Santa Ana <br />