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(A) The rate tracking factor is a pass through of those costs assessed to the City of Lawrence by the City of Indianapolis pursuant to contract or rate tariff. The rate tracking factor shall be determined as follows;
(1) Increased costs (assessed by City of Indianapolis)
(2) Divided by total gallons billed/1,000 gallons
(3) Equals cost per 1,000 gallons.
(B) The rate tracking factor will be applied upon notice by the City of Indianapolis of a rate increase or upon annual review in January. Any necessary increase or decrease shall be recommended by the Utility Service Board to the Common Council for approval.
(Ord. 4, 2009, passed 2-18-2009; Am. Res. 1, 2010, passed 4-5-2010)