925.05 CALCULATION OF STORM WATER UTILITY RATE.

   (a)   For the purposes of this chapter, the following terms have the meanings indicated:

      (1)   “ERU” means the equivalent residential unit as established in Section 925.04.

      (2)   “ERUCw” means the total equivalent residential units in the City.

      (3)   “OM” means the annual operation and maintenance appropriate to the Storm Water Utility.

      (4)   “D” means debt service appropriations including principal and interest payments due on current obligations of the Storm Water Utility.

      (5)   “C” means annual capital expense appropriation for the Storm Water Utility.

      (6)   “SWRF” means annual contributions to the Storm Water Utility system replacement fund.

      (7)   “SWF” means annual contributions to the Storm Water Utility system reserve fund.

      (8)   “SWUR” means the storm water utility rate to be applied in accordance with Section 925.04.

   (b)   The Storm Water Utility Rate (SWUR) shall be calculated in accordance with the following formula:

      SWUR = OM + D + C + SWRF + SWF

               ERUCw

   (c)   The Storm Water Utility Rate (SWUR) shall be calculated by the Director of Finance in accordance with subsection (b) on an annual basis by December 31 and shall become effective on January 1 of each year.

(Ord. 2011-030. Passed 7-19-11.)