New Jersey Administrative Code
Title 7 - ENVIRONMENTAL PROTECTION
Chapter 11 - NEW JERSEY WATER SUPPLY AUTHORITY
Subchapter 2 - SCHEDULE OF RATES, CHARGES AND DEBT SERVICE ASSESSMENTS FOR THE SALE OF WATER FROM THE RARITAN BASIN SYSTEM
Section 7:11-2.13 - Rate adjustment

Universal Citation: NJ Admin Code 7:11-2.13

Current through Register Vol. 56, No. 24, December 18, 2024

(a) The New Jersey Water Supply Authority reserves the right to review and revise the sales bases to make adjustments in the Schedule if necessary and/or review and revise the Schedule from time to time by the establishment of a new Schedule, promulgated pursuant to the Administrative Procedure Act, N.J.S.A. 52:14B-1 et seq., and any rules promulgated thereto.

1. A purchaser shall be notified of any such adjustment or revision not less than six months in advance of the effective date of such adjustment or revision pursuant to N.J.A.C. 7:11-2.14.

2. Any adjustment or revision made under this section shall be subject to the requirements of N.J.A.C. 7:11-2.14.

3. Any contract for the sale of water shall be subject to any adjustment or revision made under this section.

(b) Contracts for new or additional water sales after July 1, 1983 and until the sales base equals the system safe yield, shall contain provisions requiring the retroactive payment of a full proportionate share of the total annual Debt Service Assessment payments made by the New Jersey Water Supply Authority to the State Treasurer for the 1958 Bonds, 1969 Bonds and 1981 Bonds during the period from July 1, 1983 to the effective date of any new contract.

1. The new contract shall require that the total retroactive amount is to be paid in equal monthly or quarterly increments over at least a 10-year period, or until the scheduled date by which the Authority will have completed payments to the State Treasurer with respect to the 1981 Water Supply Bonds, whichever is longer.

2. For each year after the date of a new contract, the New Jersey Water Supply Authority will credit preexisting users with a proportionate share of the annual retroactive amount paid by any new user.

(c) Contracts for new or additional water sales after July 1, 1989 and until the sales base equals the system safe yield, shall also contain provisions requiring the retroactive payment of a full proportionate share of the total annual Debt Service Assessment payments made by the New Jersey Water Supply Authority to its bond holders for the 1988 Revenue Bonds and 1998 Revenue Refunding Bonds during the period from July 1, 1989 to the effective date of any new contract.

1. The new contract shall require that the total retroactive amount is to be paid in equal monthly or quarterly increments over at least a 10-year period, or until the scheduled date by which the Authority will have completed payments to its bond holders with respect to the 1988 Water System Revenue Bonds and the 1998 Water System Revenue Refunding Bonds, whichever is longer.

2. For each year after the date of a new contract, the New Jersey Water Supply Authority will credit preexisting users with a proportionate share of the annual retroactive amount paid by any new user.

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