(A) The city hereby establishes a Natural Gas Service Fund.
(B) This will be an income fund to receive all revenues generated by the natural gas service charge system and all other income dedicated to the operation, maintenance, replacement, and construction of the natural gas utility including taxes, special charges, fees, and assessments intended to retire construction debt.
(C) The city also establishes the following income and expenditure accounts relative to the Natural Gas Service Fund:
(1) Operation and Maintenance Account;
(2) Equipment Replacement Account; and
(3) Debt Service Fund.
(D) All revenues generated by the natural gas service charge system, and all other income pertinent to the system including taxes and special assessments dedicated to retire construction debt, shall be held by the Clerk/Treasurer separate and apart from other funds of the city.
(E) Revenues generated by the natural gas service charge system sufficient to ensure adequate replacement of system components, shall be held separate and apart in a Capital Equipment Replacement Account.
(F) Revenue generated by the natural gas service charge system sufficient for operation and maintenance shall be held separate and apart in the Operation and Maintenance Account.
(Ord. passed 12-13-2016)