Each individual commercial and residential connection to the water system shall pay a monthly assessment as established by resolution of the council, in addition to the charge for water consumed. This assessment shall be charged to the property owners of all building sites within the city limits. This includes building sites within the city limits that are not connected to the city water system if the property can reasonably be connected to the city water system.

All multi-plex business and residential properties connected to the city water system shall also pay an assessment as established by resolution of the council for each separate unit. This assessment shall also extend to mobile home parks connected to the city water system for each usable pad or space in the mobile home park.

The purpose of these assessments is to retire the city’s water debt obligations and to fund water system improvements. All monies accumulated from these assessments shall be paid first into the water debt funds and required accounts until a sufficient amount of money has accumulated to make the annual debt payments. Thereafter, an amount to be set each year by council resolution during the annual budget process shall be transferred to the Water Emergency Reserve Fund. Thereafter, all monies accumulated from these assessments shall be paid into the water capital improvement fund.

Section 2. GBMC 13.04.380 is hereby amended to provide as follows:

There is established for the City a Water Emergency Reserve Fund to be used for major repairs and improvements necessitated by an emergency, including acts of God or other incidents that cause major damage to the City’s water system.

Monies for this fund shall be taken from assessments imposed by GBMC 13.04.130 in the amount and manner specified by council resolution. Annual transfers shall be undertaken until the total amount of the Water Emergency Fund reaches $200,000. Monies collected shall also be used to replenish the Water Emergency Reserve Fund should the amount in the fund be reduced below $200,000.

Appropriations from this fund shall be subject to council approval, unless emergency conditions do not provide sufficient time to acquire council approval, in which case the appropriation shall be subject to the approval of the Mayor.

Section 3. Severability. If any section, sentence, clause or phrase of this ordinance should be held to be invalid or unconstitutional by a court of competent jurisdiction, such invalidity or unconstitutionality shall not affect the validity or constitutionality of any other section, sentence, clause or phrase of this ordinance.

Section 4. Effective Date. This ordinance or a summary thereof consisting of the title shall be published in the official newspaper of the City, and shall take effect and be in full force five (5) days after publication.