The Volumetric Rate shall be recalculated annually by the City beginning January 1, 2005, based upon the Settlement Prices. The Volumetric Rate calculation form on file with the City Clerk and incorporated herein by reference shall be used for the recalculation of the Volumetric Rate. The recalculation shall be effective each January 1 and shall be based on Settlement Prices for the twelve (12) month period beginning in July of the second (2nd) preceding year and ending in June of the preceding year. For the fifteenth (15th) day of each month during said twelve (12) month period, the Settlement Prices for the next twelve (12) months will be summed and divided by twelve (12) to determine an average Settlement Price. The average Settlement Prices for each of the twelve (12) months shall then be summed and divided by twelve (12) and multiplied by five percent (5%) to obtain the Volumetric Rate to be effective January 1 of the next succeeding year. The Volumetric Rate shall be calculated in July annually by the City and shall be effective upon filing of the completed Volumetric Rate Calculation Form with the City Clerk without requirement of amendment to this Ordinance. (Ord. 18296 § 5, 7-20-04.)