(A) Adoption and Calculation. The City hereby adopts, pursuant to general law, an annual guaranteed revenue charge equal to twelve (12) times the monthly residential base facility charge for each purchased water or wastewater equivalent residential connection not connected to the system.
(B) Applicability and Time of Payment. A Guaranteed Revenue/Reserve Capacity charge shall be paid annually by all those customers who have paid water, wastewater, or reclaimed water capital charges or plant capacity charges to the City and are not yet connected or using said capacity. The City may permit installment payments of guaranteed revenue charges upon such terms and conditions, as the City deems appropriate. The base facility charge is set at twelve (12) times the residential base facility charge. The customer will be billed, in arrears, on an annual basis twelve (12) months after the effective date a water, wastewater, or reclaimed water utility agreement is executed for the previous twelve (12) months and continuing on each annual anniversary date thereof for so long as said reserved ERC's shall remain unconnected or unused. The right to connect to the System under any such agreement shall remain valid for no more than ten (10) years from the date of issuance and only for so long as the said agreement holder pays the guaranteed revenue charge provided herein.
(C) Lapse. The continued reservation of equivalent residential connections for the water, wastewater, and reclaimed water systems shall be dependent upon the timely payment of guaranteed revenue fees as set forth above. The customer will pay all sums due and payable to the City for the Guaranteed Revenue/ Reserve Capacity charge within fifteen (15) days after the billing statement has been mailed or presented by the City to the customer as set forth in such statement. In the event of a lapse of the remaining reserve capacity or there is a failure or refusal to pay the amounts due on statements as rendered, the City may, in its sole discretion, discontinue service.
(Ord. 2008-31, passed 5-1-08; Am. Ord. 2009-40, passed 10-1-09; Am. Ord. 2011-22, passed 3-17-11)