The city of Melbourne is ready to pay out if you're ready to conserve water by issuing $50 rebates to residents who help save water.

Melbourne water customers who replace a toilet installed before 1994 with a new WaterSense high efficiency toilet are eligible for a $50 rebate.

The city said a family of four could save 25,000 gallons of water a year by installing a new WaterSense toilet.

Residents can also get $50 if they install a 40-gallon or larger rain barrel. They can save 1,300 gallons of water during peak summer months, according to the city.

Rain barrels help reduce the amount of rainwater entering the stormwater system and, ultimately, the Indian River Lagoon.

Rebates for installing high-efficiency toilets:

All city of Melbourne residential water customers who get their water bill directly from the City can receive a $50 rebate for replacing a toilet that was installed before 1994 with a new WaterSense certified high-efficiency toilet (flush rate of 1.28 gallons or less). For requirements and an application, visit: http://www.melbourneflorida.org/departments/public-works-utilities/eco-division/toilet-rebate.

Rain barrel rebates:

Residential water customers who reside within the city limits of Melbourne are eligible to participate in the city's rain barrel rebate program. Qualifying customers will receive one $50 rebate for installing a new 40-gallon or larger rain barrel. For more information and to apply, visit: http://www.melbourneflorida.org/departments/public-works-utilities/eco-division/rain-barrel-rebate.

Both rebates are available on a first-come, first-served basis and are available until budgeted rebate funds are depleted or until Sept. 30, 2016, whichever comes first. Only one rebate per customer per item (rain barrel or toilet) is allowed.