Excise fees are imposed and levied upon the utilities. An excise fee is imposed against the gross amount of the monthly service charges made by the city utilities in the following amounts:
15.6 percent of the gross amount of the monthly service charges commencing on January 1, 2026, and continuing at that rate until changed by city ordinance.
The moneys raised by the excise fee levied shall be deposited in the city's general fund; provided, however, that the portion of such excise fee raised as a result of increases to monthly wastewater, water, and stormwater service charges made by the city to pay for capital project improvements to the city's wastewater, water, and stormwater infrastructure shall be used for construction and maintenance of street improvements.