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Z' <br />I r, <br />6-1 <br />identifies over $193 million in water improvements through the year 2012, <br />and over $499 million through the year 2026. The City already adopted 5 <br />percent annual rate increases for 2007 and 2008. The rate increases are <br />adequate to cover operation and maintenance expenditures and debt service <br />through 2008. Additional water service rate increases of 6% annually for <br />the years 2009 through 2012 will be needed to meet operating and <br />maintenance costs_ On a cumulative basis, the rates are forecasted to <br />increase by approximately 39.2% between 2007 and 2012. <br />