The rental fee is $10 per month with a $75 security deposit. After the meter is returned to City Hall, the sewer charges will be credited to the water account. The break even point is 1700 gallons of water usage per month. Long story short, you'll still pay the cost of the water used, but won't pay the typical sewer charges that go along with that quantity of use.
To obtain an outside water meter visit City Hall (430 E. High Street) to pay the fee and security deposit and pick one up.