HomeMy WebLinkAboutORD 3662 x
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CITY OF RENTON, WASHINGTON
ORDINANCE NO. 3662
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON
AMENDING THE UTILITY TAY. RATE AS IT APPLIES TO
THE PRIVILEGE OF CONDUCTING A TELEPHONE
BUSINESS
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON DO
ORDAIN AS FOLLOWS :
SECTION I : The utility tax presently in force for the
privilege of conducting a telephone business within the city
limits of the City of Renton is 7 .757 . The 1982 Legislature
by engross Sentate Bill No . 4972 , Section 4, requires the
City to lower that utility tax to the rate of 6% by means of
alternative calculations .
SECTION II : The utility tax shall be decreased by reducing
the rate of taxation each year by an amount equal to the lesser
of (a) the weighted average increase in utility rates for the
period beginning October 1st of the previous year and ending
September 30th of the current year less the increase in the
Seattle All Urban Consumer Price Index for the same period,
multiplied by the then current tax rate, or (b) one-fifth (1/5)
the difference between the tax rate on the effective date of this
section and 67.. (i. e. 7 . 75 minus 6 divided by 5 or . 35%) .
SECTION III : If the amount determined under (b) above is
less than the amount determined under Section (a) above, then
one-half of the difference between the amounts determined under
(a) and (b) above shall be added to the amount determined under
(a) of this section in the following year when doing this
calculation.
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SECTION IV: The term weighted average increasing utility
rates means the percentage increase in utility revenues for each
utility expected from application of increases in rates based on
the previous year' s revenues and service areas within each city
and town.
SECTION V: This ordinance shall be effective upon its passage ,
publication and the expiration of five days after its publication.
PASSED BY THE CITY COUNCIL this 27 day of September 1982 ,
flaxine tlotor, Acting City Mrk
APPROVED BY THE MAYOR this 27 day of September 1982 .
far ara Y. Shinpoch, Mayor
Approved as to form:
Lawrence J. j rren, Cit Attorney
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Date of Publication: October 1, 1932