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Council creates LEAP wastewater rate district, sets availability fee and paves way for financing
Summary
Lebanon City Council adopted an ordinance establishing a separate wastewater rate district for the LEAP development, setting a $6.50 monthly base rate and a $5,400 availability fee; council also heard first readings on related refunding and project bond ordinances to separate LEAP debt from the city's civil wastewater obligations.
Lebanon City Council voted April 14 to create a separate wastewater service rate district for the LEAP (Large Economic Asset Project) area and adopt rates specific to that district, the council announced during its meeting.
The council adopted Ordinance 20 25-08 on second reading, establishing the LEAP Wastewater District and attaching a monthly metered base rate of $6.50 and an availability fee of $5,400 per equivalent dwelling unit. The action separates LEAP from the existing civil wastewater rate district; council members were told the civil district's availability fee is $4,800 and its monthly base rate is $5.64.
Why it matters: the split isolates ratepayer obligations so that LEAP development pays for LEAP infrastructure, rather than the city's non-LEAP (civil) customers. Council members and financial consultants also briefed the council on related financing steps being laid out to refund prior bonds and issue project bonds that will match LEAP revenues and debt service.
Jeff Jacob, a city staff member who introduced the ordinance on behalf of the utility board, said the…
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