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I RESOLUTION NO. 2002-01 2 A RESOLUTION OF THE BOARD OF PUBLIC UTILITIES OF THE CITY OF RIVERSIDE, CALIFORNIA, APPROVING ADJUSTED WATER RATE SCHEDULES 3 INCORPORATING A THREE PERCENT INCREASE AS SET BY THE HANDY - WHITMAN INFLATIONARY INDEX AND A ONE PERCENT "ADDER" 4 SURCHARGE DEDICATED TO WATER PIPELINE REPLACEMENT PROGRAM, AND RECOMMENDING CITY COUNCIL APPROVAL THEREOF. 5 6 WHEREAS, the City of Riverside ("City") by and through its Public Utilities Department 7 ("Department") is obligated to (1) serve its water customers safe, reliable and equitably priced 8 water, (2) operate its Water Utility in an efficient and economical manner, and (3) operate, 9 maintain and preserve its Water Utility in good repair and working order; and 10 WHEREAS the Department is responsible for operating the Water Utility in such a manner 11 that revenues from the sale of water shall at Ieast equal the costs of operation, including all 12 maintenance and operating, administrative and general, debt service, capital improvements, tax - 13 related payments and other costs incurred in complying with prudent utility business practices; and 14 WHEREAS the rates charged for water services are required to be designed on a fully 15 allocated basis providing for full cost recovery on a fair and equitable basis for all rate classes; and 16 WHEREAS the City's Board of Public Utilities ("Board") is charged by Section 1202(c) of 17 the City Charter to establish the rates for the Water Utility, subject to the approval of the City 18 Council; and 19 WHEREAS, on February 13, 2001, at the recommendation of the Board and after a proper 20 public hearing, the City Council approved a three-year water rate increase, as set forth in City 21 Council Resolution No. 19841; and 22 WHEREAS, the three-year water rate increase is a cost based rate increase in accordance 23 with a pre -established rate plan, based upon the Handy -Whitman inflationary index published by 24 Whitman, Requardt and Associates, a cost adjustment factor directly tied to utility construction 25 type projects; and 26 WHEREAS, under the provisions of this approved three-year water rate increase, quantity 27 rates, customer charges and fees in all water rate schedules except Schedule WA -8 (Greenbelt City Attorney's Office 3900 Main Street Riverside, CA 92522 (909) 826-5567