 The City of Prescott approved new water and wastewater rates, which were enacted July 1st, to fund infrastructure improvements. Here's Prescott Mayor Phil Good. The City Council approved new water and wastewater rates, which are now in effect. These rates will increase gradually over the next five years to provide for infrastructure operation and maintenance costs and ensure funding for replacement or refurbishment of aging water systems, some of which are well over 50 years old.