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Board forwards proposed water and wastewater rate increases to City Council after cost‑of‑service review
Summary
Utility financial consultants presented a cost‑of‑service study recommending phased rate adjustments (water ~3.9%, wastewater ~3% over five years) to stabilize cash reserves and debt coverage; the board approved resolution 2650 to send the proposal to City Council, with an estimated combined impact of about $2 per average residential customer.
The Cola Board of Public Utilities voted to forward proposed water and wastewater rate adjustments to City Council after a presentation by Utility Financial Solutions that reviewed cost‑of‑service results and rate design options.
Don Lund (remote) and Dawn Lund of Utility Financial Solutions told the board the study focused on three targets: operating income, cash reserves and debt coverage…
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