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12/7/88(ORD)Legal)Vk/TP/JB ORDINANCE NO, — 89.2 AN ORDINANCE OF INDIAN RIVER COUNTY, FLORIDA, A_D_O_PTING A SPECIAL SURCHARGE RATE FOR THE PROVISION OF WATER BY THE INDIAN RIVER COUNTY UTILITIES DEPARTMENT TO THE CUSTOMERS IN THE AREA FORMERLY SERVED BY THE NORTH BEACH WATER COMPANY, BE 1-T ORDAIRED —bylndiafiR-i*er Counzy�, —aeti-ng—through its Board of County Commissioners, that: SECTION 1. SURCHARGE ESTABLISHED There is hereby established a special surcharge on the monthly water utility bill of the customers of the former North Beach Water Company franchise territory which surcharge shall not exceed an additional $13 per month per equivalent residential unit (ERU) over and above the County water utility rate. SECTION 2, SURCHARGE LIMITS The surcharge shall not exceed $13 per ERU per month for five years from December 1, 1988. After December 1, 1993, the surcharge may be adjusted upward to an amount' certified by the —C-ounty-`-s—financ-i-I advis-o7r`t—o be necessary to fund the debt service on the bonds issued to purchase the North Beach Water Company. SECTION 3. TERMINATION OF AUTHORITY FOR SURCHARGE The authority for the surcharge authorized by this ordinance shall,expire when the long-term bonds have been paid, which bonds are to be issued within the next five years to retire the bond anticipation notes used to purchase the North Beach Water Company. Approved and adopted by the Board of County Commissioners of Indian River County, Florida, on this 3rd day of -- January —, 19$9. This ordinance was advertised in the Vero Beach Press Journal—on the-122th day—o DeS��j�L---' 1988, for—a public hearing to be held on the —3rd-- day of _January — 1988, at which time it was moved for adoption by Commissioner Eggert seconded by Commissioner Scurlock and adopted by the followinq vote: SmeadSoft Reprint Date: Monday, August 12, 2013 - 12:14:21 - OfficialDocuments:683, Attachment Id 0, Page 1