Chapter 3.68
WATER CAPITAL IMPROVEMENT FUND (SEMIAHMOO) #412
Sections:
3.68.010 Established – Semiahmoo Utility Improvement Agreement.
3.68.020 Utilization of funds.
3.68.010 Established – Semiahmoo Utility Improvement Agreement.
There is hereby established a reserve fund to be known as “water capital improvement fund (Semiahmoo) #412”, into which there shall be paid all moneys received by the city of Blaine pursuant to the Blaine-Semiahmoo Utility Improvement Agreement pertaining to the fulfillment by Semiahmoo Company of the requirements of the master plan relating to sewer, water and drainage. (Ord. 1837, 1987)
3.68.020 Utilization of funds.
The moneys deposited in the water capital improvement fund (Semiahmoo) #412 herein created may be utilized by the city at its discretion so long as the same is available for the designated agreement purposes. (Ord. 1837, 1987)
3.68.030 Interest.
The interest accrued on funds on moneys deposited in the fund herein created shall accrue to enhance the said fund. (Ord. 1837, 1987)