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 Pasadena
 Code of Ordinances
 Title 13. UTILITIES AND SEWERS
 Chapter 13.20. WATER SERVICE AND RATES

  § 13.20.035. Capital improvements charge.  

Latest version.

  • A.

    A capital improvements charge ("CIC") shall be added to water rates to recover the capital improvement costs of the water distribution system as provided in this section.

    B.

    CIC Amounts. The CIC shall be as follows and shall be subject to adjustment as provided in subsection C:

    CIC
    (per 100 cubic feet)
    Water delivered
    April 1st—September 30th:
     In Area A $ 0.62429
     In Area B $ 0.84274
    Water delivered
    October 1st—March 31st:
     In Area A $ 0.58896
     In Area B $ 0.79504

     

    C.

    Adjustments to the CIC. Adjustments to the CIC shall be calculated by the department and shall take effect on the first of the month following city council's approval of the Water Fund Capital Improvements Program ("CIP"). The CIC shall be adjusted by the following calculation:

    CIC = ((FTR x CE) + DS) / WS

    (expressed to the nearest $0.00001 per hundred cubic feet)

    Where: FTR ("Funding Target Ratio") = (A) / (A+B)

    Where "A" is the five-year average annual cash required from current-year water rates to fund the CIP as projected by the department at the time the CIC calculation is made.

    Where "B" is the five-year average annual revenue bond funds required to fund the CIP as projected by the department at the time the CIC calculation is made.

    CE ("Capital Expenditure") is the five-year average annual water fund capital expenditure as projected by the department at the time the CIC calculation is made.

    DS ("Debt Service") is the five-year average annual CIC-related debt service payment as projected by the department at the time the CIC calculation is made.

    WS ("Water Sales") is the water system sales for the next twelve months stated in billing units, as projected by the department at the time the CIC calculation is made.

    D.

    CIC Account. A CIC account shall be maintained into which all CIC revenue bond funds, CIC revenues and interest earned shall be deposited. The CIC account shall be used solely for the purposes of paying CIC-related debt service, funding the water fund CIP as approved by the city council, and the water fund transfer to the general fund.

    (Ord. 6932 § 4, 2003)

(Ord. No. 7171, § 5, 7-20-2009; Ord. No. 7223, §§ 9, 10, 7-16-2012; Ord. No. 7271, § 1, 12-14-2015)