Lincoln Electric Service customers will have to pay a monthly dividend charge on their electric bills under a new city ordinance.
The required dividend payments will start September 1, 2011 as a result of a measure the Lincoln City Council approved in August.
The ordinance requires Lincoln Electric Service to pay the city a dividend. The ordinance is expected to generate more than $6 million for the city in its first year.
LES Chairman Kevin Wailes says customers pay some of the nation's lowest rates because the utility is a city-owned nonprofit. Wailes says officials felt it was appropriate to provide the city a dividend for that ownership.
The ordinance was a joint effort of the mayor's office, the city attorney and LES.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.