(A) Service rate. The just and equitable rate for water and sewer service to be paid to the town by the only customer (the landowner Briny Breezes, Inc.), shall be $26,667 per month. This rate shall commence October 1, 2021 and continue in effect until changed by resolution of the Town Council adopted for such purpose.
(B) Adequacy of rates. After a thorough review of the revenues and expenditures of town’s Enterprise Fund, the Town Council hereby finds and declares that the new rates or charges herein are just and equitable rates or charges to be paid to the town for the use of the town’s water and sewer system by each person, firm or corporation whose premises are served thereby for the operation and maintenance of the town water and sewer system, and the debt service rates needed to comply with the town water and sewer system bonds, which have been retired.
(Ord. 1-94, passed 6-23-1994; Ord. 2-96, passed 10-24-1996; Res. 03-2, passed 12-18-2003; Res. 2019-16, passed 12-5-2019; Res. 2020-11, passed 9-24-2020; Res. 2021-10, passed 9-23-2021)