No guarantee will be required for commercial/industrial customers whose monthly gas bill is not anticipated to exceed five hundred dollars ($500). A utility bond, irrevocable letter of credit, or cash deposit equal to two (2) months bill, will be required for all new commercial and industrial accounts whose monthly gas bill is anticipated to exceed five hundred dollars ($500). When a cash deposit is paid in full, interest will be paid on an annual basis. Interest will be credited to customer deposit balance in January of each calendar year based on the previous calendar year average annual interest rate earned on the primary deposit account less bank fees. Customers may review deposit balance including interest credit. Additional information can be found in Customer Service Policy 3.2. Each separate meter shall require an appropriate guarantee regardless of the number of meters provided for a single customer or single premise. If a bond or letter of credit expires or is cancelled, the service will be terminated. Existing commercial/industrial accounts that are scheduled for a non-pay cut-off two or more times in a twelve month period shall be required to provide security as stated above.
(Ord. #015-10-28, October 2015)