(A) The City Council has the total responsibility for establishing water rates for its water utility.
(B) The City Council will observe the following procedures in establishing all water rates involving the water utility.
(1) A statement of need with supporting documentation shall be prepared and made available to the general public.
(2) A public hearing shall be held on water utility rate adjustments at least 30 days prior to the adoption of any water rate changes.
(3) In order for water utility customers to have an opportunity for a more intensive review of information, a petition signed by a minimum of 25 water utility customers may be submitted to the City Council requesting a delay in the city’s consideration to any water rate change. Such petition may request an extension of no more than 60 days from the date of the public hearing.
(C) The municipal water utility shall prepare a comprehensive annual report indicating costs, improvements undertaken, gallons of water pumped, gallons of water sold, revenues and expenses, and all fund balances. All accounting records shall be maintained utilizing the double entry accounting system.
(Prior Code, § 62-37)