Resolution 10-9-23B

Published by admin on Fri, 10/20/2023 - 9:30am

RESOLUTION 10-9-23B

A resolution providing for base rate and surcharge for improvements to the water system, for payment of revenue bonds, setting of base rate and yearly review of rate.

Determination of Base & Usage Rate Charges. The monthly water charge will be determined by combining the base rate with the customer’s usage rate (base rate + usage rate). The base rate and usage rate are set according to the following table:

Effective Date Base Rate Usage Rate

July 23, 2024 $21.50 $1.75/100 cu. ft.

July 23, 2025 $24.50 $2.20

July 23, 2026 $27.50 $2.25

July 23, 2027 $30.50 $2.30

Surcharge of Bond Issue. The surcharge shall be for the services provided by the improvement financed by the Water Borrower Bonds (the “Bonds”). The surcharge shall be segregated from the revenues of the utility and shall be used for the payment of the revenue bond. The segregation for Bond funds is as follows:

Effective Date Base Rate Usage Rate

July 23, 2024 $14.00 $0.75/100 cu. ft.

July 23, 2025 $17.00 $0.75

July 23, 2026 $30.00 $0.75

July 23, 2027 $18.00 $0.75

Collection. The rate specified herein will be collected as a surcharge for the utility improvements. The surcharge shall be collected at the same time as other charges of the utility.

Yearly Review. The City Council shall review the rates established by this section annually at the June meeting and may adjust the water rates by resolution.

Repeal of Resolution. The rates established hereunder shall be in effect until such time as the City Council adopts a future resolution to adjust the rates pursuant to this section.

Adopted and approved on the 9th day of October 2023.

Aye: 6 Nay: 0 Absent: none

Pat Raffety, Mayor

ATTEST

Finance Officer

Published: October 18, 2023

Effective: October 28, 2023

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