On or before each March 15 preceding the May 1 effective date as set forth herein, the Common Council shall review the financial condition of the utility. In its review of the utility's financial condition, the Common Council shall consider several factors, including but not limited to the utility's operating revenues and expenses, foreseeable capital outlays, and the utility's ability to service ongoing debt obligations. In the event the Common Council, after reviewing the utility's financial condition, makes a specific finding that the rates and charges are unreasonable, the Common Council by a majority vote may delay, reduce, or rescind the amount of the scheduled increase in rates and charges.
(Ord. 2011-5, passed 3-7-11)