Chapter 3.21
WATER AND SEWER RESERVE FUND
Sections:
3.21.030 Minimum balance and increase of charges.
3.21.010 Created.
There shall be set up in the water and sewer fund a special reserve account for the deposit of such revenue from the water and sewer accounts of the town as the council may direct. (Ord. 303 § 1, 1983)
3.21.020 Use of moneys.
The moneys in the special reserve account shall be utilized for the upgrading, repair and replacement of elements of the town’s water supply and sewage systems as such projects are authorized by the council. (Ord. 303 § 2, 1983)
3.21.030 Minimum balance and increase of charges.
The minimum balance of such special reserve account shall be determined by the council and if revenues from the water and sewer receipts are insufficient to properly fund the account then the council may by proper procedure increase the water and sewer charges to properly provide sufficient funding in the account. (Ord. 303 § 3, 1983)