2-5-2: TAX IMPOSED:
   A.   Tax Rates Established: A tax is hereby imposed upon the privilege of using or consuming electricity acquired in a purchase at retail and used or consumed within the corporate limits of the village at the following rates, calculated on a monthly basis for each purchaser:
Kilowatt-Hours Used
Or Consumed In A Month
Cents Per
Kilowatt-Hour
Kilowatt-Hours Used
Or Consumed In A Month
Cents Per
Kilowatt-Hour
   First 2,000
 
0.577
   Next 48,000
 
0.378
   Next 50,000
 
0.340
   Next 400,000
 
0.331
   Next 500,000
 
0.321
   Next 2,000,000
 
0.302
   Next 2,000,000
 
0.298
   Next 5,000,000
 
0.293
   Next 10,000,000
 
0.288
   All in excess of 20,000,000
 
0.284
 
   B.   Effect Of Tax Rates:
      1.   The tax rates set forth in subsection A of this section will be used at least through December 31, 2008, are proportional to the rates enumerated in 65 Illinois Compiled Statutes 5/8-11-2 (as modified by public act 90-561), and do not exceed the revenue that could have been collected during 1997 using the rates enumerated in 65 Illinois Compiled Statutes 5/8-11-2 (as modified by public act 90-561).
      2.   Pursuant to 65 Illinois Compiled Statutes 5/8-11-2, the rates set forth in subsection A of this section shall be effective: a) on August 1, 1999, for residential customers; and b) on the earlier of: 1) the first bill issued on or after January 1, 2001; or 2) the date of the first bill issued pursuant to 220 Illinois Compiled Statutes 5/16-104, for nonresidential customers.
      3.   The provisions of subsection A of this section shall not be effective until August 1, 1999. (Ord. 4-99, 6-1-1999, eff. 8-1-1999)