Chapter 3.78
SHORT-LIVED ASSET RESERVE FUND

Sections:

3.78.010    Fund established.

3.78.020    Source of funds.

3.78.030    Use of funds.

3.78.010 Fund established.

There is hereby created an enterprise fund to be known as the “short-lived asset reserve fund” as prescribed by the Washington State Auditor’s Office in RCW 43.09.200. (Ord. C-826 § 2, 2014)

3.78.020 Source of funds.

Moneys to be deposited into this fund include any legally available funds in the water-sewer funds to be transferred to the short-lived asset reserve fund in accordance with the USDA letter of conditions. Interest earnings on moneys invested from this fund shall be deposited into such fund. (Ord. C-826 § 3, 2014)

3.78.030 Use of funds.

The moneys in the fund shall only be used for the replacement of primary equipment assets of the advanced wastewater reclamation facility. The moneys accumulated in the fund will be utilized to replace “short-lived” items that are being financed with long-term financing. (Ord. C-826 § 4, 2014)