§ 51.53. REDUCTION OR ADJUSTMENT OF SURCHARGE.

Latest version.

Reduction or adjustment in the amount of the surcharge established by § 51.27 shall be computed for the subsequent 12 months by determining the maximum revenue required to pay the principal and interest during any remaining 12-month period of the bonds issued pursuant to Ordinance 1974-16, then subtracting the receipts from the Contribution In Aid of Construction of the Bowman Acres Sanitary Sewers Fund, and dividing the result by the number of equivalent single-family dwelling units connected directly into the Bowman Acres sanitary sewers at that time. The resulting amount shall then be divided by 12 to arrive at the revised monthly surcharge for the next 12 months.
(Ord. 1974-18, passed 11-14-74)

                    
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