File #: ID 20-810    Version: 1 Name:
Type: Resolution Status: Passed
File created: 4/9/2020 In control: City Council
On agenda: 5/4/2020 Final action: 5/4/2020
Title: Resolution - Amending Exhibit "A" Utility Rate Schedule to Ordinance 2003-19 to Decrease the Capacity Surcharge Fees from 2% to 0% Effective May 1, 2020.
Attachments: 1. Resolution 20-12, 2. Exhibit A 5-01-20 Utility Rate Schedule

Agenda Item:  12(b)

Prepared By:  Guillermo Polanco 

Business: Resolution

Department:    Finance

Subject:

Title

Resolution - Amending Exhibit “A” Utility Rate Schedule to Ordinance 2003-19 to Decrease the Capacity Surcharge Fees from 2% to 0% Effective May 1, 2020.

Body                     

 

 

BACKGROUND: 

The attached Resolution adopts the decrease of the capacity surcharge fees from 2% to 0% to start May 1, 2020.  The City’s capacity bond sinking fund contains a balance sufficient to cover the final STRP (Septic Tank Replacement Program) related debt service payment due on October 1, 2020.  The surcharge fees can be eliminated.

 

FUNDING SOURCE / FISCAL IMPACT:  The fiscal year 2020 Utility Budget will be adjusted accordingly for the use of bond sinking funds.

 

RECOMMENDATION:  Approval of the attached Resolution authorizing the decrease in utility rates.

 

POTENTIAL MOTION:  “I move adoption of the Resolution 20-12.