[HISTORY: Adopted by the City Council of the City of Amery 10-6-2004 as Title 9, Ch. 2, of the 2004 Code; amended in its entirety 2-3-2021 by Ord. No. 01-2021. Subsequent amendments noted where applicable.]
Regulations and rates for service from the City Sewer Utility shall be as prescribed in the Public Service Commission's current rate order, on file with the City Administrator/Clerk-Treasurer.
[Added 4-7-2021 by Ord. No. 06-2021]
A. 
The City of Amery, Polk County, Wisconsin plans to make several improvements to Keller Avenue and other related facilities also identified Safe Drinking Water Project #5582-02 ("the project").
B. 
The City intends to adopt a resolution authorizing the issuance of revenue bonds to pay for the project, and has determined that such improvements benefit the City Tax Incremental District No. 6.
C. 
A tax incremental district water charges are hereby imposed upon the City of Amery for 100% of the total costs of the project (including debt service coverage ratio requirements imposed by a bond resolution) which are applicable to improvements undertaken in connection with the City's Tax Incremental District No. 6 ("the district"), whether located within or outside the district. The charge against the Tax Incremental District No. 6 for the above-referenced project shall be no less than the amortized amount of 50% of the total project cost or 100% of the project SDWL loan principal and interest payments for the life of the Tax Incremental District No. 6, whichever is less.
D. 
An additional tax incremental district charge is hereby imposed under the following condition: If the life of the loan exceeds the legal repayment period of TID No. 6, the City reserves the right to charge the TID No. 6 during the repayment period of the TID No. 6 for payments which will come due and payable after the TID No. 6 payment period has expired for remaining principal payments allocable to the aforementioned improvements.
E. 
A tax incremental district payment shall be issued semi-annually directly to the sewer utility checking accounts prior to the debt service date(s). This obligation shall only apply to the debt incurred due for the costs of the project. Upon final debt service payment by the sewer utilities for the project then this section shall be automatically repealed.