It is the policy of the city that the city's municipal water system shall be operated on such a basis that expenditures for water purchases, maintenance, repair, capital improvements, employee salaries and benefits and all incidental and related expenses therefor ultimately are paid for or recovered by water rates charged to the various users of water serviced by the municipal water system. Those officers and employees charged with the management and operation of the municipal water system shall endeavor to obtain any and all funds available to the municipal water system including, but not limited to, grants from federal and state sources. Nothing contained in this section shall preclude the city from making advances or loans to the municipal water system, or grants, on such terms and conditions as are deemed advisable by the City Council, from any funds of the city lawfully available for the making of such loans, advances and/or grants.
('61 Code, § 24.2) (Ord. 759, passed - - )