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(a) A debt service charge shall be levied on all classes of sanitary sewerage system users to provide funds to meet any existing and anticipated principal and interest payments on debt from the financing of the City's cost of planning and construction of the system improvements.
(b) The method used to establish the debt service charge shall be as follows:
(1) The total debt service payments of principal and interest due in the current year (notes and bonds), less estimated proceeds of issuing new notes, plus an estimated allowance for reserved funds to be carried over for payments in future years, less the estimated carrying over from the past year, shall be determined.
(2) The total determined shall be divided by ninety-five percent of the estimated total billable flow volume for the year.
(c) The rate so determined may be reviewed twice a year and revised to reflect any changes in billable tributary flow rates.
(Ord. 88-338. Passed 12-5-88.)