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2002-1
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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />�� <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />ir.1 <br />I7 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />City Attorney's Office <br />3900 Alain Street <br />Riverside, CA 92522 <br />(909)S26-5567 <br />Irrigation Service) shall increase on March 1 of each year by a percentage equal to one percent <br />("one percent adder") plus the percentage increase in the labor component of the Handy -Whitman <br />index during the immediately preceding calendar year as compared to the prior calendar year; and <br />WHEREAS, the one percent adder is to fund an accelerated water main replacement <br />program, and will be deferred if year-end audit results show an addition to reserves in excess of <br />$1.0 million or more; and <br />WHEREAS, the provisions of the approved three-year water rate increase were effective <br />February 28, 2001 and will terminate February 29, 2004; and <br />WHEREAS, in the first year of the three year water rate increase, the rates were adjusted to <br />reflect a 2.4 percent increase and became effective on February 28, 2001; and <br />WHEREAS, staff is now proposing that for the second year, that the rates be adjusted <br />pursuant to the provisions of the approved three-year water rate increase; and <br />WHEREAS, the Department ended Fiscal Year 2001 with an addition to reserves of <br />$900,000, which is less than the $1,000,000 requirement to defer the "one percent adder" as <br />described above; and <br />WHEREAS, the labor component of the Handy -Whitman index was increased by three <br />percent in calendar year 2001; and <br />WHEREAS, the Department's staff and management are now recommending that the rates <br />be adjusted pursuant to the provisions of the approved three-year water rate increase, in the <br />following amounts to take effect on March 1, 2002: (1) in an amount equal to the three percentage <br />increase in the Handy -Whitman index during calendar year 2001, and (2) in an amount equal to a <br />one percent surcharge on water rates, dedicated to the water pipeline replacement program, for an <br />overall increase of four percent, as reflected in the Water Rate Schedules attached hereto as <br />Exhibit A. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Public Utilities of the City of <br />Riverside, California, as follows: <br />-2- <br />
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