[Ord. No. 2091 §§1 — 2, 12-5-1989; Ord. No. 2639 §1, 12-18-2001]
A rate schedule for the cost of natural gas to City natural gas customers shall be established as needed in accordance with the provisions of this Section and based upon the recommendations of the Board of Public Works and the rates shall be made available to the public.
The rates established under this Section shall provide sufficient revenue for the safe, efficient and financially responsible operation and management of the natural gas system and shall be structured to produce net income not to exceed six and one-half percent (6½%) annual return on the net book value of the natural gas system as determined by an annual audit of the system.
The wholesale cost of natural gas shall be automatically passed on to the natural gas consumer (purchase gas adjustment). Said cost shall be added to the rate schedule established under this Section to be recovered in the following month(s).