(A) The Washington Wastewater Utility shall make a payment in lieu of taxes (pilot payment.)
(B) The pilot payment shall be in an amount equal to the property taxes the utility would pay the city if it were privately owned.
(C) The proceeds from the pilot payment shall be paid into the general fund for the city and shall be appropriated by the Common Council of the city.
(D) The pilot payments shall be paid semi-annually by May 10 and November 10 of each year or at more frequent intervals if the utility so elects.
(E) This section is retroactive to January 1, 2005.
(Ord. 9-2005, passed 7-11-2005)