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111 ©UPY©F <br /> Agenda Section: 11.I <br /> REQUEST FOR COUNCIL CONSIDERATION Report Number: 96-1611C <br /> 11110rOMOS Report Date: 2-1-9 6 <br /> STAFF REPORT Council Action: <br /> OEW <br /> E Special Order of Business <br /> A^•..lets•Paztnecs, <br /> 4110 <br /> CITY COUNCIL MEETING DATE February 12, 1996 ❑ Public Hearings <br /> 0 Consent Agenda <br /> tR) Council Business <br /> Item Description: <br /> Consideration of Resolution No . 4892, Adopting Quarterly <br /> Mpt. r cftaraAs <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report A <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> SUMMARY; <br /> In September of 1995, Council approved the city wide water meter change out <br /> project . Various options were discussed as a means of financing the <br /> project . Council approved option no. 1 which included changing all meters <br /> throughout the community and establishing a quarterly meter charge to <br /> partially finance the project . The project was financed by funds from the <br /> WAC fund and a loan from the Special Projects Fund. The Special Projects <br /> loan was estimated to be reconciled 12 years . <br /> The combined earnings from a quarterly meter charge and increased earnings <br /> rom accurately measuring water meters was determined to repay the loan. ! <br /> hese meter charges were approved by Council when accepting option no. 1 . <br /> The meter charges were established based on the cost of a 5/8" residential <br /> meter. The differential percentage of each larger meter determined the <br /> meter charge for that particular size. Presented for Council' s review are <br /> the meter charges . One additional meter size, four inch, was added to the <br /> schedule. These meter were discovered in the system at the time of the <br /> project . <br /> Residential Meters <br /> 5/8 " to 1" $3 . 00 <br /> Commercial Meters <br /> 1 inch $3 . 60 <br /> 1 1/2 inch $6 . 00 <br /> 2 inch $7 . 40 <br /> 3 inch $19 .40 <br /> 4 inch $31 . 50 <br /> . Additional charges were also instituted with the project . Customers <br /> choosing not to comply with the project would incur a $50 per quarter <br /> charge for manual billing and estimating. Also, customers electing to have <br /> a radio read system would be responsible for the additional $27 for capital <br /> outlay, and a $15 per quarter reading charge. <br /> Although the meter program will be paid for in approximately 12 years, <br /> Council at this time did not determine that the quarterly charge would <br /> 11111 discontinue at that time. The funds created after the reimbursement is <br /> completed could be utilized for future Water Utility improvements . <br /> RECOMMENDATION• <br /> Council adopt Resolution No . 4892, Establishing Water Meter Quarterly <br /> Charges . <br />