CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE relating to rates and charges for water services of Seattle Public Utilities; authorizing withdrawals from the Water Fund Revenue Stabilization Subfund; revising water rates and charges, and credits to low income customers; and amending the Seattle Municipal Code Sections 21.04.430, 21.04.440, and 21.76.040.
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WHEREAS, Seattle City Council Resolution 31534, passed August 11, 2014, adopted a six-year Strategic Business Plan for Seattle Public Utilities (SPU) which guides utility investments, service levels, and rate paths through 2020; and
WHEREAS, the Strategic Business Plan included increases in the capital and operating requirements of the Water Fund in response to security, environmental, and infrastructure concerns, with a resulting increase in revenue requirements; and
WHEREAS, Ordinance 121761, passed March 28, 2005, established a minimum balance for the Water Fund Revenue Stabilization Subfund of $9,000,000, and permits funds in excess of this amount to be used to meet operating expenses, pay Capital Improvement Program expenditures, or to comply with financial policies; and
WHEREAS, the current balance in the Water Fund Revenue Stabilization Subfund exceeds the minimum balance, and the Strategic Business Plan directs that a portion of the excess funds be withdrawn to reduce the Water Fund revenue requirement and thereby reduce otherwise necessary increases in water rates; and
WHEREAS, SPU has recently completed a rate study incorporating the guidance of the Strategic Business Plan; and
WHEREAS, the water rates authorized by this ordinance are consistent with the general ratemaking policies set forth in Resolution 30742, adopted March 28, 2005; and
WHEREAS, credits for qualified low-income customers should be revised when water rates change; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. In order to les...
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