Base Rate Increase
August 30, 2019
Attention Shareholders & Customers
Sheep Creek Water Company’s recently constructed Well 11was put into service in late 2018. Well 11 is currently producing up to 250 gallons per minute. Phase 1 of the Well 11 project was approved by the Shareholders during the Annual Shareholders Meeting in May 2017. The Shareholders approved to complete the project in May 2018. The completion of the project required Sheep Creek to borrow the remaining funds to complete the project. The outstanding loan for Well 11 is $428,000.
During the Special Meeting of the Shareholders held on August 17, 2019, the Shareholders voted and approved a base rate increase to repay the loan for the completion of Well 11. The approved base rate increase is $5.00 per meter per month for 5 years to repay the loan. Along with the approved base rate increase, funds from the existing Tier 3 water rate will also be used towards the loan repayment. The additional base rate will begin for the September 2019 water billing which will be sent the first week of October 2019.
Monthly Billing Rate
Base Rate- $55.00 per meter service
Well #11- $5.00 per meter service
Tier 1 Allotment- $0.50 per HCF
Tier 1 Allotment- 750 cubic feet for 1st share & 150 cubic feet for remaining shares
Tier 2 Allotment- $3.46 per HCF
Tier 2 Allotment- 150 cubic feet per share
Tier 3 Overage- $6.32 per HCF
Tier 3 No Allotment
HCF- Hundred Cubic Feet = 748 gallons