Chapter 3.22
WATER SYSTEM RESERVE FUND

Sections:

3.22.010    Water reserve fund established.

3.22.020    Allocation and transfer.

3.22.010 Water reserve fund established.

There is hereby established a water system reserve fund. The primary purpose of the fund shall be to provide a means by which a separate accounting may be made for the receipt and expenditure of moneys received from that portion of water system revenues allocated to a reserve for water system improvements. [Ord. 782 §2, 2002].

3.22.020 Allocation and transfer.

All moneys received from water system revenues allocated for reserves to finance water system improvements shall be deposited into the fund. Such moneys shall then be transferred and deposited from time to time into such accounts or funds as may be designated by the city council for use in the construction of water system improvements, or for the payment of any debt incurred to finance such improvements. [Ord. 782 §3, 2002].