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Resolution No. 573

 RESOLUTION No. 573

RESOLUTION NO. 573

(scroll to bottom for Resolution No. 584)

WHEREAS, the City of Enterprise will be applying for a Grant/Loan totaling $4,802,250 from the Infrastructure Finance Authority, an agency of Business Oregon.   The Loan amount would be $5,552,250 less a $750,000 Loan Forgiveness. This project will be called the Enterprise Water Improvement Project.

WHEREAS, the City must develop a rate structure for the next 5 years to meet the debt obligation of the applied loans. The city is required to have its rate no less than $36.85 by the first payment which is assumed to be December 1, 2016.

THEREFORE, BE IT RESOLVED, the City of Enterprise adopts the 2.5 year monthly Water Rate program to the users of the City of Enterprise Water System:

 July 1, 2014:                All users inside the city limits                         $26.40

                               All users outside the city limits                                    $39.60                               

January 1, 2015              All users inside the city limits                         $28.80  

                             All users outside the city limits                                   $43.20            

July 1, 2015                 All users inside the city limits                         $31.20

                               All users outside the city limits                                   $46.80

January 1, 2016              All users inside the city limits                         $33.60

                               All users outside the city limits                                   $50.40

July 1, 2016                 All users inside the city limits                         $36.00

                               All users outside the city limits                                   $54.00

January 1, 2017              All users inside the city limits                         $36.85

                               All users outside the city limits                                   $55.30

July 1, 2017                 All users inside the city limits                         $37.60

                               All users outside the city limits                                   $56.40

July 1, 2018                 All users inside the city limits                         $38.35

                               All users outside the city limits                                   $57.55

July 1, 2019                 All users inside the city limits                         $39.15

                               All users outside the city limits                                   $58.75                     

Passed and approved by the Enterprise City Council this 13th day of January 2014 by a vote of 6 ayes and 1 nay.

Approved and signed by the Enterprise Mayor this 13th day of January 2014

                                                                                    ___________________________________

                                                                                    Margie Shaw, Mayor

ATTEST:

_______________________________________

Michele R. Young, City Admin./Recorder

 

 

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