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M 1 WHEREAS the Department's staff and management have 2 (1) performed a cost of service study which indicates that 3 the revenue of the Water Utility should be increased by 4 $809,823 on an annual basis in order to equal the costs of 5 operation, (2) recommended an overall increase of 6 approximately 4.311 in the water rates to provide the 7 additional revenue needed, and (3) prepared and recommended a 8 design which provides for full cost of service recovery on a 9 fair and equitable basis for all rate classes; and 10 WHEREAS a public hearing, notice of which was 11 published in The Press -Enterprise on July 19, July 28 and 12 July 31, 1994, was commenced by the Board on the proposed 13 rate increases on August 3, 1994 to receive and consider the 14 study and design and to receive and consider oral and written 15 comments thereon from the public, and after receipt and 16 consideration thereof the Board continued the hearing to its 17 regularly scheduled meeting on August 19, 1994 for final 18 public comments and review and then concluded it; and 19 WHEREAS the Board intends to limit the overall rate 20 increase to approximately 2k by establishing the rates set 21 forth in Exhibit One attached hereto and incorporated herein 22 by reference; 23 NOW, THEREFORE, BE IT RESOLVED by the Board of 24 Public Utilities of the City of Riverside, California, as 25 follows: 26 Section 1: The foregoing recitals are true and 27 correct and are adopted and incorporated herein by reference City Attorney's Office 3900 Main Street Riverside, CA 92522 (909) 782-5567 -2- F:\WPDATA\RES\94161901.RS