(A) (1) The Clerk-Treasurer shall cause to be transferred monthly the amount of the Bank of New York amortization schedule to the Sewage Bond and Interest Account for retirement of current construction obligations.
(2) This transfer shall be made by the 15th of each month.
(B) The Clerk-Treasurer shall cause to be transferred monthly an amount equal to 2% gross revenue to the Sewage Depreciation Fund. This shall be done at the monthly closing of the sewage utility ledger.
(C) The Clerk-Treasurer shall cause to be transferred monthly any cash operating funds in excess of $7,000 to the Sewage Depreciation Fund. This shall be done at the monthly closing of the sewage utility ledger.
(Prior Code, § 9-35) (Ord. 1984-4, passed 12-27-1984)