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)