(A) The rates and charges set forth in this chapter reflecting an increase in the current rates and charges of the electric utility are hereby adopted and established for the use of and the service rendered by the electric utility of the town.
(B) The Town Council hereby elects to receive payments in lieu of property taxes.
(C) The Town Council hereby elects to earn a reasonable return on the electric utility plant.
(D) The rates and charges set forth herein will be in full force and effect as follows:
(1) Phase I beginning with the first billing cycle January 2010;
(2) Phase II beginning with the first billing cycle January 2011.
(Ord. 2009-7, passed 11-23-09)