A water capital improvement and replacement fund shall be provided, sufficient to provide annual aggregate deposits of seventy-five thousand dollars ($75,000) per year and thereafter. These deposits shall be made from the Water Revenue Fund to the Capital Improvement and Replacement Fund. This money in Capital Improvement and Replacement fund may be used to buy new equipment; purchase, replace, repair, rebuild or recondition equipment and properties of the utility and for the betterment, improvement and extensions thereto.
(Ord. 2008-18. Passed 1-6-09.)