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Regular Council Meeting June 12, 2023 Page 4 amount. Mr. Path said he had a check in the amount of $3,070.15 from Mr. Faber and was holding it pending direction from the City Council. A Motion to accept payment in the amount of $3,070.15, waive the accrued interest and release the lien was made by Council Member Savage and seconded by Council Member Pankaj. Motion carried, 6 ayes — 0 nays. 11. Receive presentation from NewGen Strategies regarding the 2023 Water & Wastewater Cost of Service Rate Study, discuss and act on an ORDINANCE NO. 2023-023: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, AMENDING APPENDIX A, SECTION A10.004(b), "SEWER RATES FOR CUSTOMERS USING CITY WATER," OF THE CODE OF ORDINANCES OF THE CITY OF PARIS, TEXAS TO REFLECT CHANGES RECOMMENDED BY THE CITY'S RATE CONSULTANT; PROVIDING A REPEALER CLAUSE, A SEVERABILITY CLAUSE, A SAVINGS CLAUSE, A PENALTY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. Finance Director Gene Anderson said the City had treated water contracts with four local industries and one of the requirements of the contracts was for the City to have an independent rate consultant conduct a cost of service study each year. Mr. Anderson introduced Chris Ekrut with NewGen Strategies who gave an overview of the rate maintenance policy, and stated the Council adopted wastewater rate increases effective very six months beginning April 2021 through April 2026 to fund the WWTP rehabilitation and associated debt issuance. Mr. Ekrut reported the findings of the study and reported that the retail water rates were currently sufficient and that a rate increase was not needed. He reviewed the adopted residential wastewater rates, the commercial wastewater rates, total residential monthly bill comparison, the sewer surcharge and the estimated sewer surcharge customer impact. Council Member Pilgrim inquired whether these rates would push new companies away from Paris. Mr. Ekrut said the City could develop an economic contract with a commercial customer. Council Member Savage said he thought industries should see these numbers prior to approval by Council. Mr. Anderson said these numbers include the first rate increase the City has had in three years. Council Member Pilgrim said if these rates were negotiable for those recruiting industry to Paris, he was good with it. Mr. Path said the rates were negotiable. He also said if the Council wanted to table this item allowing staff to notice the companies, that they could do so. Mr. Ekrut said the impact of passing this ordinance was about $20,000.00. A Motion to approve this item was made by Council Member Pilgrim and seconded by Council Member Pankaj. Motion carried, 6 ayes — 0 nays. 12. Receive presentation by Mark McLiney, with SAMCO Capital Markets, the City's Financial Advisor, regarding refunding and restructuring the Series 2013 Utility System COs to lower the total annual debt service supported by the utility system to help offset the costs of future utility system improvements and authorizing staff and outside consultants to proceed with the refunding and other matters related thereto.