(a)
Findings.
(1)
The city operates a water and wastewater system (“system”) to serve residents within its approved service area.
(2)
The city accounts for said system through a separate fund known as the water/wastewater enterprise fund (“fund”), which is independent of the general fund.
(3)
The city grants the system an exclusive right, privilege, and franchise to erect, maintain, operate, and remove water and wastewater lines and pertinent facilities over, under, across, upon, and along the streets, alleys, and other public property upon easements on public rights-of-way.
(4)
The system shall be imposed a fee of eight percent of gross receipts of the sale of water and wastewater for such right payable to the general fund.
(b)
Purpose.
This franchise is granted for the purpose of providing water and wastewater service within the city’s service area.
(c)
Procedure for collection.
Said fee shall be collected from the system and paid over to the general fund according to the following procedures:
(1)
Each month a report shall be completed detailing the total revenue collected by the system for providing water and wastewater services.
(2)
The fee shall be calculated at a rate of eight percent of the total revenue as outlined above.
(3)
Before the tenth day of the following month, the system shall cause to be paid said fee to the general fund.
(d)
Water and wastewater rates.
The water and wastewater rates charged by the system to its customers shall not be increased solely for the purpose of offsetting said fee.
(Ordinance 446-10 adopted 9/21/10)