Chapter 13.34
AUTOMATIC ANNUAL RATE ADJUSTMENTS

Sections:

13.34.010    Automatic annual rate adjustments.

13.34.010 Automatic annual rate adjustments.

A. All rates described in SLMC 13.14.290, 13.18.290, and 13.28.200, as amended, shall be subject to an adjustment beginning with the January billing period of each year equal to the annual percentage increase in the United States Consumer Price Index, All Urban Consumers (CPI-U) for October of the preceding year as shown in the release from the Bureau of Labor Statistics.

B. The January billing period for those rates based on meter readings will begin with the December 15th reading of the preceding year.

C. In calculating the annual adjustment the city shall round off all final calculations to the nearest cent where the rate provides for cents and to the nearest dollar where the rate does not provide for cents.

D. The increases shall be computed by the finance director and confirmed by city council action considered at a regular city council meeting at least 30 days before the revised rates are to become effective. (Ord. 1218 § 1, 2015; Ord. 1184 § 1, 2014).