Chapter 3.30
WATER/SEWER RENEWAL AND REPLACEMENT FUND
Sections:
3.30.010 Established.
A fund shall be established to be designated the “Water/Sewer Renewal and Replacement Fund.” (Ord. 875 § 1, 1999)
3.30.020 Purpose.
All moneys in the renewal and replacement fund shall be used for the following purposes:
A. To make up any deficiency in the 1991 refunding bond fund or any accounts therein;
B. To pay the costs of repairs to and renewals and replacements of the system; and
C. To pay extraordinary maintenance and operation expenses. (Ord. 875 § 2, 1999)
3.30.030 Transfer of funds.
The sum of $50,000 shall be transferred from the cumulative reserve fund to the water/sewer renewal and replacement fund, as required by Ordinance No. 743. (Ord. 875 § 3, 1999)