CC - Agendas - City Council - REGULAR - 12/2/2014

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('ITyor PKESCOTT COUNCIL AGENDA MEMO MEETING DATE/TYPES: COMBINED WORKSHOP AND 12-2-14 REGULAR VOTING SESSION DEPARTMENT: Finance AGENDA ITEM: Adoption of Ordinance Nos. 4917-1455 and 4918-1456 implementing revised water and wastewater utility rates and making related amendments to the Prescott City Code Approved By: Date: Director: Woodfill, Mark 11/18/2014 J City Manager: McConnell, Craig Ottai,k) Item Summary These two Ordinances are for implementation of the water and wastewater rates pursuant to Arizona Revised Statutes §9-511. Background To adopt utility rates, the City is mandated to develop a Utility Rate Report consistent with Arizona Revised Statutes §9-511. The legislation requires specific timeframes between publication, public hearing, and Council consideration of the utility rates. The rate setting process, and status of activities, is as follows: 10/3/14 Advertisement Notification placed on the City's webpage informing the public of Complete possible adjustments to water and wastewater rates. Presentation by Raftelis Financial Consultants on the Utility 10/7/14 Rate Update. Discussion of rate adjustments necessary to fund Complete Council Workshop the FY15-19 Water and Wastewater IIP/CIP and operational expenses; presentation of the schedule for the rate setting public process. Presentation and discussion of public comments received; 10/14/14 Council Voting Meeting direction to proceed with rate setting process and/or other Complete direction. Adoption of notice of intent to adjust rates; set a public hearing; and release the public report. 10/27/14 Newspaper Notification of intent placed in the newspaper informing the Complete Advertisement public of the date, time and place of the hearing. 10/28/14 Public meeting with Public Meeting#1 to present proposed rates and receive Complete customers comments.