§ 939.02. Findings and determinations.

It is hereby found, determined and declared as follows:

(1)

The City, through its Water Board, presently owns and operates a water treatment plant and distribution system, which treatment plant and distribution system is financed through the fees collected from its customers for consumption of water provided by the system.

(2)

The present rates for water service in the City and vicinity are insufficient for the payment of the reasonable and necessary operating expenses, bond service on existing debt, provision for depreciation, reasonable operating reserve and capital improvements, and therefore, it has become necessary to increase the rates in order to provide sufficient revenue to cover the above expenses.

(Code 1991, § 939.02; Ord. of 9-21-1987)