All electric services provided by the Grand Island Utilities Department will be subject to a City Dividend for Utility Ownership. The City Dividend for Utility Ownership will be set by resolution in the City of Grand Island Fee Schedule and calculated as a percentage of the total bill. The City Dividend for Utility Ownership will be identified as a separate line item on an electric bill and will be calculated as follows:
Electric City Dividend = Electric Bill Before Sales Tax * Electric City Dividend Rate
The City Dividend for Utility Ownership will be subject to applicable sales tax.