[Ord. No. 3081, 12-16-2013]
A. 
To meet debt service requirements for the wastewater treatment upgrade, the wastewater rates for all City of Malden wastewater customers, both residential and commercial, are adjusted as follows:
1. 
Upon the adoption of this Article, a debt service fee in an amount not to exceed one dollar and twenty-five cents ($1.25) for each one thousand (1,000) gallons of water used in a monthly billing cycle shall be added to all wastewater rates for all customers.
B. 
Beginning January 1, 2014, and each January 1 thereafter, the BPW shall determine the approximate minimum amount needed, based on prior years' water usage, to meet the debt service requirements and shall adjust the wastewater rates accordingly. The Debt Service Fee shall be deposited and credited to the Waste Water Debt Service Fund.
C. 
The Debt Service Fee shall remain in force until the wastewater upgrade debt has been completely retired.
[Ord. No. 3081, 12-16-2013]
A. 
The Board of Public Works shall establish the Wastewater Debt Service Fund. Funds credited to this fund shall only be used for retiring the debt on the wastewater treatment facility upgrade.
B. 
Upon complete retirement of the wastewater upgrade debt, any excess fees collected shall be returned to the wastewater customers of record at that time in the same manner as they were collected.
[Ord. No. 3081, 12-16-2013]
All net income derived from any land usage of the wastewater treatment facilities shall be deposited and credited to the Wastewater Debt Service Fund.