Ordinance No. 80-93-52 v r
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ORDINANCE NO. 80-93-52
AN ORDINANCE OF THE CITY OF ATLANTIC BEACH, FLORIDA,
AMENDING CHAPTER 22, UTILITIES, BY ADDING SECTIONS TO
COMBINE THE ATLANTIC BEACH, OAK HARBOR AND BUCCANEER
WATER AND SEWER SYSTEMS FOR FINANCIAL REPORTING PURPOSES
ONLY, TO ESTABLISH A RETURN ON INVESTMENT POLICY FOR THE
BUCCANEER PLANT, AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED by the City Commission of the City of Atlantic
Beach, Florida:
SECTION 1. The Code of Ordinances of the City of Atlantic
Beach, Florida, is hereby amended by adding two (2) sections to be
numbered Section 22-1 and 22-2 , which sections shall read as
follows:
"Sec. 22-1 Combined systems.
The sewer systems of the Atlantic Beach, Oak Harbor
and Buccaneer plants are hereby combined for financial
reporting purposes only, and said combined systems shall
hereafter be known as the Atlantic Beach Sewer System.
Likewise, the water systems of the Atlantic Beach, Oak
Harbor and Buccaneer plants are hereby combined for
financial reporting purposes only, and said combined
systems shall hereafter be known as the Atlantic Beach
Water System. All systems shall continue to meet any and
all bond covenants, restrictions and other applicable
laws.
Sec. 22-2 Buccaneer plant-return on investment.
The additional rates charged by the Buccaneer
systems to customers outside the City pursuant to Sec.
22-27 (2) for water and Sec. 22-167 (b) for sewer shall be
considered a return on investment, and said return on
investment shall be contributed to the general fund of
the City on an annual basis. "
Section 2 . This Ordinance shall take effect immediately upon
its final passage and adoption.
PASSED by the City Commission on first reading this 13th
day of September , 1993 .
PASSED by the City Commission on second and final reading this
27th day of September , 1993 .
ATTEST: 1
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MA EEN KING "ILLIAM I. GULLI ORD ='
City Clerk Mayor, Presiding Off - i
Approved as to form and correctness:
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,N C. J SEN, ESQUIRE
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