(A) The natural gas rates shall be established by resolution of the City Council and kept on file in the office of the City Finance Officer. Rates may be modified at any time during the year and shall be effective on the first day of the billing cycle following the effective date of the resolution. The natural gas meter rates shall be structured to provide sufficient funds to cover the following costs:
(1) Costs of current operation and maintenance;
(2) Amount necessary for working capital;
(3) Amounts necessary to make payments of principal and interest on all obligations;
(4) Amounts necessary for a reasonable reserve for depreciation, and which shall be used solely to pay for capital improvements necessary to off-set current depreciation;
(5) Amounts necessary to fund a reserve account; and
(6) Amounts necessary to fund a surplus account.
(B) All revenue collected from the natural gas utility shall be deposited in the natural gas account, which shall be classified as Enterprise Fund 617 pursuant to and in conformance with the municipal accounting standards published by the Department of Legislative Audit.
(C) Classification of users for billing purposes, deposits, rates, and any other purpose shall be established by resolution of the City Council.
(D) The natural gas rates shall be as follows for in-city consumers:
(1) Small (residential) customers:
(a) The basic rate shall be $15 per month; and
(b) The usage rate shall be $0.8446 per Ccf.
(2) Medium (commercial) customers (425 to 675 meters):
(a) The basic rate shall be $23 per month; and
(b) The usage rate shall be $0.8116 per Ccf.
(3) Large customers (1,000,000 to 3,000,000 to 5,000,000 meters):
(a) The basic rate shall be $113 per month; and
(b) The usage rate shall be $0.7936 per Ccf.
(E) The natural gas rates shall be as follows for outside of the city limits customers:
(1) Small (residential) customers (250 meters):
(a) The basic rate shall be $15 per month; and
(b) The usage rate shall be $0.8446 per Ccf.
(2) Medium (commercial) customers (425 to 675 meters):
(a) The basic rate shall be $23 per month; and
(b) The usage rate shall be $0.8516 per Ccf.
(3) Large customers (1,000,000 to 3,000,000 to 5,000,000 meters):
(a) The basic rate shall be $113 per month; and
(b) The usage rate shall be $0.8336 per Ccf.
(F) Hook-up rates shall be as follows:
(1) In-city limits construction: $260 hook-up fee plus $1.80 per foot over the first 150 feet; and
(2) Out-of-city limits construction: All costs charged to the city to run said service to include meter charge.
(G) All monthly natural gas billings shall be billed using the above rate and may fluctuate depending on the commodity rate, commodity transportation rate, and debt retirement schedule.
(Ord. 540, passed - -; Res. 03-03-01, passed 3-10-2003; meeting minutes dated 2- -2021; meeting minutes 4- -2021; meeting minutes 5- -2021)