(A) There is hereby established a capacity fee for all new sewer construction in the City of Dry Ridge. The capacity fee for each equivalent residential unit (ERU) is calculated as follows:
CF = Net Worth (wastewater system) dollars/G.P.D.)
System Capacity (gallons use per day)
CF/ERU dollars/GPD x ______ average use(s) per day (s)
(B) Qualified users are allowed to pay this fee in monthly installments for up to 60 months with project interest based upon the then current bond interest schedule. This capacity fee shall be calculated by the Mayor and/or his or her designee and the City Clerk/Treasurer. This calculation and information sheet shall be provided to the qualified user by the Mayor and or City Clerk/Treasurer.
(Ord. 716-2007, passed 8-23-07)