The council Thursday approved the loan through the three required readings.
Last December the council approved a
Anderson City Controller
City officials expect to file the necessary paperwork with the state next week for the water department to raise rates by 21.18 percent in 2015 and 2016 and to issue
The increase will result in the monthly bill for the minimum user of 3,000 gallons or less to climb from
The council approved the rate increase and the bond by a 5-to-3 vote in March after discussions in several meetings.
Fenwick said Thursday the
"I wanted some flexibility," he said. "Hopefully, we will be able to repay some of the loan amount early next year."
The council approved through two readings -- three are required -- a new rate schedule and charges for
Officials with the administration of Mayor
He said the state agency approved adjustments to the rate structure so that all utility customers paid their fair share. The state approved a 50 percent change in residential rates, and not a 100 percent adjustment, which would have had a larger impact on residential customers.
Hupfer said until the new rate structure is approved by the council, the electric utility will be overcharging some customers.
The increase approved by the IURC was less than city officials projected in 2013. Originally, residential customers were expected to see a rate increase of
Residential customers using 1,000 kilowatt hours will see an increase of
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