[Adopted 12-20-2000 by L.L. No. 9-2000 (Ch. 204, Art. VIIA, of the 1987 Code)]
This article shall be known as and may be cited as "Water District No. 7 Capital Charge Ordinance"; its purpose is to establish and regulate the collection of charges for the capital cost of the facilities of Water District No. 7.
As used in this article, the following terms shall have the meanings indicated:
CAPITAL COST
Includes all cost and charges expended by Water District No. 7 in the construction of the facilities, including interest on its bonded indebtedness.
FACILITIES
Includes the distribution system, fire hydrants and other water main appurtenances.
PERSON
Includes individuals, firms, partnerships, companies, corporations, associations or any legal entity.
WATER DISTRICT
Includes all properties physically situate within the territorial limits of North Castle Water District No. 7.
Effective upon the adoption of this article, the basis of the assessments for the capital costs of Water District No. 7 shall be determined by the following formula. The annual cost to the properties in the Water District shall be calculated by taking the mean of the figure computed in each of the two factors (A and B) as hereinafter set forth:
Factor A - Population Serviced
Single-family residence
3.6 persons/home
Schools
Total of students and faculty
Office
1 person per 300 square feet
Retail
1 person per 150 square feet
Factor B - Assessed Value
Computed on the basis of the assessed valuation of each property, i.e., on an ad valorem basis.
Computation:
Individual Property
x
Annual Debt Reduction
2
=
$______________
Population
Total District Population
Individual Property Assessment
x
Annual Debt Reduction
2
=
$______________
Total Water District Assessment
Total
$______________