CH19 19 .8 - Revision of Water Rates

 

AN ORDINANCE ESTABLISHING A REVISED SCHEDULE OF RATES AND CHARGES FOR THE USE AND SERVICES RENDERED BY THE LAPEL MUNICIPAL WATER UTILITY.

WHEREAS, the Town Council of the Town of Lapel, Indiana (the "Town"), does now operate a Lapel municipal water utility system for the benefit of the residents of the Town of Lapel; and

WHEREAS, the Town anticipates continued improvements and upgrading of the water utility for the benefits of the residents of the Town; and

WHEREAS, the Town Council of the Town has previously adopted ordinances providing for the rate and charges for the use of its services rendered by the water utility of the Town; and

WHEREAS, in connection with the improvements and upgrading and operation of the water utility, the Town has caused a financial rate study to be conducted by Patrick Callahan, C.P.A Based on the results of the study, the Town Council now determines that the rates and charges for the use and services of the water utility should be revised to provide sufficient income to maintain the water utility in a sound physical and financial condition to render adequate and sufficient services to the residents of the Town of Lapel. The revised rates and charges should allow a reasonable rate of return on the water utility plant and improvements and allow a sufficient amount to compensate the Town for providing such adequate service to its residents.

WHEREAS, the Town Council now determines that proper notice has been given that the Public Hearing on the proposed revised schedule rates was conducted, by the Town of Lapel, Lapel Town Board, on the 3rd day of June, 2010, at the Lapel Town Board regularly scheduled and posted meeting in the Town of Lapel, Madison County, Indiana. That Public Meeting being properly advertised pursuant to Indiana Code.

NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF LAPEL, INDIANA, AS FOLLOWS:

1. That previous ordinances are hereby amended as to the current water utility rate.
2. That the proposed rates, as set out in the Rate Study, prepared by Patrick Callahan, C.P.A, Page 28, Scenario B, Column C, is hereby adopted by the Town of Lapel as the revised rate to be charged by the water utility to the citizens of the Town of Lapel as users of that water utility. (SEE ATTACHED EXHIBIT "A")
3. That the revised rate in this Ordinance shall go into effect in the first full billing period after the adoption of this Ordinance.
4. That this Ordinance shall be in full force and effect from and after its passage and adoption except as amended or revised.

PASSED AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF LAPEL ON THE 17th DAY OF JUNE 2010.