Chapter 10.20
WATER RESERVE FUND AND SEWER RESERVE FUND
Sections:
10.20.010 Purpose.
The purpose of this chapter is to provide that separate funds be created so that there will be a water reserve fund and a sewer reserve fund in place of a cumulative reserve fund for maintenance and operation and replacement of equipment and improvements for the city water and sewer departments. (Ord. 703 § 1, 1982).
10.20.020 Established.
The council does establish two separate funds, namely: water reserve fund which will be styled Fund No. 402, and sewer reserve fund which will be styled Fund No. 409. The funds shall replace a cumulative water and sewer reserve fund created under Ordinance 544. The same is created pursuant to RCW 35.21.070. The funds therein shall be used for the maintenance and operation and replacement of equipment and improvements of the city water department and city sewer department respectively, and unless otherwise specified by the voters of the city, pursuant to the requirements of the above-named statute. (Ord. 703 § 2, 1982).
10.20.030 Transfer of funds.
The city council shall transfer the sum of $1,000 into the water reserve Fund No. 402, and $1,000 into the sewer reserve Fund No. 409, and additional funds may be transferred into the funds as the same become available. In addition to the above, one-half of the monies in the cumulative water and sewer reserve fund created under Ordinance 544 shall be placed in Fund No. 402 and the remaining one-half in Fund No. 409. (Ord. 703 § 3, 1982).