(A) The water service charge for the use of and for service supplied by the waterworks facilities of the village shall consist of a user charge for the operation and maintenance plus replacement, a debt service charge and other charges as the village deems necessary.
(B) (1) The user charge is levied on all users to recover the operation, maintenance, plus replacement costs, and shall be based on water usage as recorded by water meters.
(2) The user charge shall be computed as follows:
(a) Estimate the annual water volume to be treated;
(b) Estimate the projected annual revenue required to operate and maintain the waterworks facilities, including a replacement fund for the year, for all work categories;
(c) Proportion the estimated OM&R costs to each user class; and
(d) Compute costs per 1,000 gallons.
(3) The user charge is computed by dividing the number of units of flow of water from all sources into the annual revenue required. The resultant charge is expressed in dollars per 1,000 gallons of water.
(C) The debt service charge is levied on all users and may be computed by apportioning the annual debt service in one of the following methods:
(1) As a charge per 1,000 gallons;
(2) As a fixed charge per billing period; and
(3) As a fixed charge plus a charge per 1,000 gallons.
(D) The capital improvement charge is levied as a connection fee on users to provide for the capital improvements, extensions or reconstruction of the waterworks facilities. The capital improvement charge is computed and assessed as a fixed charge per P.E. estimated to be used by the user.
(E) The village may declare a rate to provide funds for such other costs as may be applicable to the water facilities. The rate, if established, shall be applicable to all users.
(F) The adequacy of the water service charge shall be reviewed, not less often than annually, by certified public accountants for the village in their annual audit report. The water service charge shall be revised periodically to reflect a change in local OM&R costs.
(G) The users of the waterworks services will be notified annually, in conjunction with a regular bill, of the rate and that portion of the user charges which are attributable to the water operation, maintenance and replacement.
(H) The volume of flow used for computing basic user charges shall be metered water consumption read to the lowest even increments of 1,000 gallons.
(1981 Code, § 6.12)