[Ord. of 11-10-1997(2); amended by Ord. of 11-23-1998(3)]
Qualified technology businesses shall receive a reduction in
electric rates charged by the City for the first 10 years of operation.
[Ord. of 11-10-1997(2); amended by Ord. of 11-23-1998(3)]
The amount of electric rate reduction for qualified technology
businesses shall be 10% commencing on the first day of the month on
which or after which the business commences operations. If the business
ceases to be a qualified technology business within the ten-year period,
the reduction in electric rates shall cease on the month after the
business qualifies as a qualified technology business.
Once a business qualifies as a technology business, it shall
not be entitled to further electric rate reductions as a result of
expansion of the business or increase in the number of employees.
