Chapter 3.75
WASTEWATER DEBT SINKING FUND
Sections:
3.75.010 Fund established.
There is hereby created an enterprise fund to be known as the “wastewater debt sinking fund” as prescribed by the Washington State Auditor’s Office in RCW 43.09.200. (Ord. C-740 § 2, 2011)
3.75.020 Source of funds.
Moneys to be deposited into this fund include transfers from the water and sewer fund, moneys received for wastewater general facility charges received in the water and sewer capital development fund and transferred to the wastewater debt sinking fund, and any other legally authorized funds to be used for the wastewater utility. Any interest earnings on moneys invested from this fund shall be deposited into such fund. (Ord. C-740 § 3, 2011)
3.75.030 Use of funds.
All withdrawals from the fund require the authorization of the City Council. The funds may be transferred to the water-sewer fund or water-sewer debt service fund to be used toward principal and interest debt service offsetting the funding required from utility rates. The funds may also be transferred out of the fund to be used for expansion projects of the wastewater system or for any other legally authorized purpose of the wastewater utility. (Ord. C-740 § 4, 2011)