(A) The rates and charges for water and sewer service shall be revised from time to time as may be necessary in order that the city may comply with the covenants and undertakings securing the water and sewer revenue bonds of the city.
(B) The City Council further gives the Glasgow Water and Sewer Commission the authority to annually increase retail water and sewer rates as follows:
(1) The Commission is hereby granted the authority to adjust rate structures up to a 3% maximum increase annually on and after August 1, 2023;
(2) The authority granted the Commission hereby is further limited in that the authority to set rates shall expire in five years from the date of the first rate increase, as identified in § 51.120(A) pursuant to this division (B) unless the city's legislative body elects to renew or extend the Commission's authority to set rates prior to the end of said five-year term;
(3) The Glasgow Water and Sewer Commission shall notify all its customers, by mail, at least 30 days before any rate increase becomes effective.
(1989 Code, § 52.121) (Ord. 1019, passed - -1965; Am. Ord. 2022-3006, passed 5-9-2022)