2003-108-RES ACCEPT RATE OF WATER RATE STUDY BY REED, STOWE & YANKE

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RESOLUTION NO. 2003-108 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, ACCEPTING THE FINDINGS OF A W ATERAND SEWER RATE STUDY PERFORMED BY REED, STOWE & YANKE, INC.; AUTHORIZING THE IMPLEMENTATION OF SAID RATES FOR CERTAIN CONTRACTED WATER CUSTOMERS; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City of Paris contracted for a comprehensive water and sewer rate study to be performed by Reed, Stowe & Yanke, Inc., professional consultants; and, WHEREAS, on the 17th day of March, 2003, the City Council of the City of Paris received said water and sewer rate study prepared by Reed, Stowe & Yanke; and, WHEREAS, the substance of said study indicated the residential and commercial rates for water and sewer service established by ordinance by the City of Paris needed to be raised an appropriate amount to offset increased costs of operation of the water and sewer systems; and, WHEREAS, the aforesaid water and sewer rate study also indicated the amounts paid by contracted water customers of the City of Paris needed to be adjusted to new rates in accordance with the terms and provisions of said contracts; and, WHEREAS, the City Council desires to accept said water and sewer rate study prepared by Reed, Stowe & Yanke and to authorize the implementation of the water rate adjustments recommended therein for certain contracted water customers of the City of Paris, save and except those rates applicable to Campbell Soup Company, which shall be governed by a subsequent separate new contract; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the fmdings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the water and sewer rate study performed by Reed, Stowe & Yanke, professional consultants, as the same -was presented to the City Council of the City of Paris on March 17, 2003, a copy of which is attached hereto as Exhibit A and for all purposes incorporated herein, shall be and is hereby accepted. Section 3. That the Director of Finance of the City of Paris shall be, and is hereby, authorized to implement those rate adjustments recommended by said Water and Sewer Rate Study for the cost of water provided by the City of Paris to its contracted customers, such rate