Agenda Item: 11
Prepared By: Guillermo Polanco
Business: Ordinance - Second Reading
Department: Finance
Subject:
Title
Ordinance - Second Reading - Amending Exhibit “A” Utility Rate Schedule to Ordinance 2003-19.
Body
BACKGROUND:
The attached Ordinance adopts the decrease of the capacity surcharge fees from 4% to 2% to start November 1, 2019. Per the City’s debt service requirements for its capacity related bonds the surcharge fees can be decreased.
FUNDING SOURCE / FISCAL IMPACT: The proposed fiscal year 2020 Utility Budget incorporates this decrease.
RECOMMENDATION: Approval of the attached Ordinance authorizing the decrease in utility rates.
POTENTIAL MOTION: “I move adoption of the Ordinance 19-16.