Ordinance No. 2015-05
AN ORDINANCE AMENDING WATER RATES FOR HIGH VOLUME USAGE
FOR WOLCOTT MUNICIPAL UTILITIES, TOWN OF WOLCOTT, INDIANA
WHEREAS, Indiana Code Section 8-1.5-3-8 requires that the Town of Wolcott (“Town”) on behalf of its Water Utility establish rates and charges which will produce an income sufficient to maintain the utility property in sound physical and financial condition to render adequate and efficient service; and
WHEREAS, said Code section requires that rates and charges shall be collected from the owners of each and every lot, parcel of real estate or building that is connected with the Town water system. Such rates and charges shall produce sufficient revenue to: (1) pay all the legal and other necessary expenses incident to the operation of the utility, including: (A) maintenance costs; (B) operating charges; (C) upkeep; (D) repairs; (E) depreciation; and (F) interest charges on bonds or other obligations, including leases; (2) provide a sinking fund for liquidation of bonds or other obligations, including leases; (3) provide a debt service reserve for bonds or other obligations, including leases, in an amount established by the municipality, not to exceed the maximum annual debt service on the bonds or obligations or the maximum annual lease rentals; (4) provide adequate money for working capital; (5) provide adequate money for making extensions and replacements to the extent not provided for through depreciation in subdivision (1); and (6) provide money for the payment of any taxes that may be assessed against the utility; and,
Whereas, The Town Council of The Town of Wolcott has currently employed H. J. Umbaugh & Associates, a certified public accounting company, to study the financial status of the town’s utilities, to complete financial studies, and to report upon the propriety and amount of the Water System Rates; and,
WHEREAS, the Town Council of the Town of Wolcott endeavors to pursue and coordinate infrastructure projects designed to attract, encourage, promote, support, and maintain a healthy economic climate for the greater good of the entire community without exerting or causing undue economic burdens, distress or hardships to all; and.
WHEREAS, the Town Council of the Town wishes to amend the Water Utility Rates for high volume water users of the Town’s Water System.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF WOLCOTT, INDIANA:
Section 1. A high-volume user charge to a water user/customer of the Wolcott Municipal Utilities has been established as follow:
Next 100,000 gallons (200,000 and more) $2.00 (per 1,000 gallons)
DULY ORDAINED and ADOPTED this day of , 2016 by the Town Council of the Town of Wolcott, County of White, Indiana having a vote of four in favor and none opposed.
TOWN COUNCIL, TOWN OF WOLCOTT, INDIANA
Marsha L. Mackey, President Marsha L. Mackey, President
Michael A. Yelton, Vice President Michael A. Yelton, Vice President
Richard A. Lynn, Council Member Richard A. Lynn, Council Member
Fred A. Young, Council Member Fred A. Young, Council Member
Steven B. Gordon, Council Member Steven B. Gordon, Council Member
So Witnessed and attested to this day of , 2016.
Tammy L. Seward