(A) In order that the rates and charges for storm water services may be in proportion to the cost of providing services to the various users or user classes, the town shall cause a study to be made within one year following the date on which this chapter goes into effect and at least annually thereafter. Such study shall include, but is not limited to, an analysis of the costs associated with the collecting, controlling and discharging of the storm water volume and delivery flow rate characteristics attributed to the various users or user classes, the financial position of the storm water utility and the adequacy of its revenue to provide reasonable funds for the operation and maintenance, replacements, debt service requirements and capital improvements to the storm water systems. The town shall adjust its rates and charges to reflect the results of the study.
(B) Thereafter on an annual basis, within a reasonable period of time following the normal accounting period, the town shall cause a similar study to be made for the purpose of reviewing the proportionality of the rates and charges for storm sewage services on a continuing basis. The studies shall be conducted by officers or employees of the town, or by a firm of certified public accountants, or a firm of consulting engineers which firms shall have experience in such studies, or by such combination of officers, employees, certified public accountants, or engineers as the town shall determine to be best under the circumstances. The town shall, upon completion of the study, revise and adjust rates and charges as necessary in accordance therewith in order to maintain the proportionality and sufficiency of the rates.
(Ord. 2004-19, passed 6-28-04)