The Finance Director is hereby authorized and directed to compute and certify to Council for its approval as provided herein adjusted rates for water and sewer service each year pursuant to policies established herein. When so approved, such adjusted rates shall supersede and become the charges for water and sewer service provided in Chapters 1044 and 1052 and shall be paid by consumers for such service in the same manner as provided in such chapters for the base rates provided therein. Adjusted rates certified to Council by the Director shall be in conformity with Section 1040.14 and the phrase "all costs of the water and sewer systems" shall mean amounts equal to the annual appropriations for water and sewer operations, maintenance and repair, including labor capital outlay, debt service, plus amounts for charges for the use of City property and facilities, administrative and legal expenses, and creation and maintenance of the required reserve for emergencies, less amounts reasonably expected to be collected as connection fees. In the event the annual appropriations are limited by the Ohio Revised Code to amounts less than sufficient to pay all the above costs and expenses, the Director shall prepare an estimate of such costs and expenses for the year for the water and sewer systems, and, when approved by Council, such estimates shall be the "costs of the water and sewer systems" referred to above and in Section 1040.14(a).
The Director shall compute adjusted water and sewer rates and certify them to Council as provided herein not more than sixty days after adoption of the annual appropriation ordinances or by June 1 each year, whichever comes sooner.
Council shall approve, disapprove or modify adjusted rates for water and sewer service certified to it by the Director, by resolution. In the event the rates certified by the Director are disapproved or modified, the resolution disapproving the rates or approving modified rates shall include a statement of the reasons therefor and how the rates approved by Council better conform to the policies of Section 1040.14. In the event Council fails to approve, disapprove or modify the rates certified to it by the Director within fortyfive days of the date such rates are certified to it, they shall stand approved without Council action. Adjusted rates fixed pursuant to this chapter shall be effective for all water use and sewer service occurring after the first day of the month following the date such adjusted rates are approved and shall remain in effect thereafter until revised as provided herein.
(Ord. 76-11. Passed 3-30-76.)