(A) All residential and commercial sewer users shall pay a monthly fee set by the City Council and on file in the office of the Finance Officer. This shall be submitted with water payment to the City Finance Officer no later than the twentieth day of each month.
(B) All users of the wastewater treatment system for the city shall pay to the city such amounts as shall be from time to time be set by ordinance of the City Council.
(C) In addition to such charges as may be necessary to pay the expenses of operation and maintenance of the city’s wastewater system, each user of the wastewater system shall pay an initial surcharge in the amount of $9.20 per month, subject to adjustment from time to time by ordinance of the City Council as necessary to repay a $2,156,000 loan from the USDA Rural Development over a period of 40 years at an interest rate of 3.25%, in accordance with the loan agreement to be entered into by the city and the USDA Rural Development, the proceeds of which loan are to be used for the wastewater treatment facility expansion project. Such surcharge shall be segregated from all other funds of the city, shall be and are hereby pledged to secure such loan, and shall be used for no purposes other than for the repayment thereof. The collection of the surcharge was established on August 1, 2010.
(D) In addition to the other wastewater charges, the city hereby establishes a surcharge of $4.35 payable by each customer of its system who receives or benefits from the services of the project financed by the CW-04 loan with the borrower bond Series 2020. The collection of the surcharge shall start on March 1, 2021. The surcharge shall remain in effect until such time as the borrower bond is paid in full, it shall be collected at the same time as other charges of the system, and establish a surcharge account to segregate the income from other system income for book keeping purposes to be pledged to the State Conservancy District. The surcharge shall be reviewed from year to year and modified in order to provide the required 110% debt coverage.
(Prior Code, § 10-1-11) (Ord. 514, passed 9-3-2019; Ord. 523, passed 10-12-2020)