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HomeMy Public PortalAbout2006-09 - AMENDMENT APPROVING WATER RATES AND CHARGES" ORDINANCE 2006 -3_ AN ORDINANCE AMENDING SECTIONS 9 -11 THROUGH 9 -14 OF THE GREENCASTLE CITY CODE APPROVING WATER RATES AND CHARGES WHEREAS, the City of Greencastle, Indiana, owns and operates a municipal water system and collects rates and charges for the use of and the services rendered by said water system pursuant to I. C. 8- 1.5 -3 -8; WHEREAS, due to the increased costs of providing water to the customers of the Greencastle Department of Waterworks, it is necessary for an increase in water rates; WHEREAS, the existing rates and charges do not produce sufficient revenue to pay all the necessary expenses incident to the operation of such water system, including maintenance costs, operating charges, upkeep, repairs, depreciation, taxes and payments in lieu of taxes, interest charges on bonds and other obligations, to provide a sinking fund for the liquidation of bonds and other evidences of indebtedness, to provide a debt service reserve for bonds or other obligations, to provide adequate funds to be used as working capital, adequate funds for making improvements, and a reasonable return on the utility plant, and therefore do not produce revenues sufficient to maintain such water system property in a sound physical and financial condition to render adequate and efficient service. Accordingly, said existing rates and charges are not reasonable andj ust for services within the meaning and provisions of I.C. 8- 1.5 -3 -8; and WHEREAS, it will be necessary to increase the existing rates and charges in order to provide sufficient funds to meet the financial requirements of said municipal water system, and an Ordinance establishing a new schedule of rates and charges should be adopted by the City of Greencastle, Indiana Common Council. NOW THEREFORE be it ordained by the Common Council of the City of Greencastle that the enumerated water rates and charges as set forth in the Greencastle City Code, Sections 9 -11 through 9 -14, be amended and read as follows: Section 9 -11 Monthly Metered Water Rate Schedule Monthly consumption First 2,000 cubic feet Next 8,000 cubic feet Over 10,000 cubic feet Rate per 100 cubic feet $3.04 1.91 1.54 " E Section 9 -12 Minimum Monthly Metered Service Charge 5/8" - 3 /4 ' meter $ 6.78 1" meter 18.10 1!/2" meter 38.66 2" meter 64.47 3" meter 129.98 4" meter 228.82 6" meter 512.66 Section 9 -13 Fire Protection Charge Schedule Hydrant Rental Hydrant rental each $ 431.90 per annum Private Fire Connections Size of Connection Charge per annum is 4" $ 231.38 6" 509.05 8" 910.09 10" 1,434.54 12" 2,082.43 Section 9 -14 Contract Users Water Rate Schedule Metered Consumption Volumetric Rate of All Wholesale Consumption per 100 cubic feet: $1.72 Biennially, beginning in December, 2007, the Greencastle Board of Works shall submit to the Common Council a review of the Water Department budget with a recommendation for maintaining or adjusting current rates. The Council shall respond to the recommendation within three months of receiving it. This Ordinance shall have full force and effect upon passage of the Greencastle Common Council and its approval by the Mayor. The above rates shall become effective October 1, 2006. 0 PASSED AND ADOPTED by the Common Council of the City of Greencastle, Indiana this jc- of , 2006. Thomas W. Roach John Lanie / �/IV 2�Z IL2.� U/, M rk N. Hammer Russell W. Evans R ogert Sed — - Approved and signed by me this 12— day of ` L1j �JtJ 1 2006, at 7. 2 • o'clock _�.m. c J ancy A ael, Mayor ATTEST: - 170 Teresa Glenn, Clerk- Treasurer 11