HomeMy WebLinkAbout1993-07-27; Municipal Water District; Resolution 845? !I 0 0
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RESOLUTION NO. 845
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE CARLSBAD MUNICIPAL WATER DISTRICT
APPROPRIATING FUNDS FROM THE RATE STABILIZATION FL
AND THE PENALTY RESERVE FUND TO DEFER THE RATE
INCREASE FOR ONE MONTH AND ABSORB LOSSES
FROM THE DELIVERY CHARGE INCREMENTAL INCREASE
WHEREAS, the San Diego County Water Authority (CWA) and the F
Water District (MWD) have increased their rates to the Carlsbad Muni
District by 20% effective July 1, 1993; and
WHEREAS, the Carlsbad Municipal Water District will experienc
revenue due to decreased water sales without an increase in its compc
water rate; and
WHEREAS, a rate stabilization fund and a penalty reserve
established on December 10, 1991, by the Board with penalty monies ob
the previous inclining block rate to be used to offset rate increases; and
WHEREAS, as of June 15, 1993, the rate stabilization fund had a
$304,000 and the penalty reserve fund had a balance of $574,000; and
WHEREAS, the Board has chosen to use these two funds to defc
rate increase for a period of one month and allow an incremental incrc
delivery charge; and
WHEREAS, as a result of these deferrals, the District would lose ap
$604,000; and
WHEREAS, there is enough money in the two funds to cover thf
shortfall.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE (
MUNICIPAL WATER DISTRICT HEREBY RESOLVES THAT:
1. The above recitations are true and correct.
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2. Funds in the amount of $304,000 from the rate stabilizatiol
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Water Account No. 501 -820-631 0-2661. 3
$300,000 from the Penalty Reserve Fund are hereby appropriated to the
PASSED, APPROVED AND ADOPTED at a &m meeting of th s e ial
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Municipal Water District held on the 27th day of July, 1993, by the follow
wit:
7 11 AYES: Board Members Stanton, Kulchin, Nygaard
8 /I NOES: Board Members Lewis, Finnila
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ABSENT: None
ATTEST:
NZ, Secretary
ant Secretary
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