The minimum residential water and sewer bill for Fayetteville residents will increase by 70 cents effective Sept. 1. The increase for seniors will be 59 cents.
Prior to the Aug. 1 unanimous vote by the City Council, Assistant Finance Director Ellen Walls noted the need to meet the required debt service on the 2010 Water and Sewer Revenue Bond.
The options for meeting those requirements included a rate increase based on the Consumer Price Index and a partial refinancing of the existing debt. The refinance is expected to be completed in September, Walls said.
Pertaining to the new pricing structure, the minimum residential water and sewer bill will increase by 70 cents while the average residential water and sewer bill will increase by $1.33, Walls said.
The minimum water and sewer rate for seniors will increase by 59 cents.
The minimum combined rate for commercial users will increase $1.27.
Walls said expected development in the properties annexed Aug. 1 will make a significant difference in the revenues generated for the water and sewer system in the coming years.
