(A) There is hereby established a Water Utility Meter Deposit Fund 0604 for the purpose of accounting for the receipts and disbursements of the water utility customer deposit activities.
(B) Water Utility customer deposits shall be deposited in said Fund and shall be used for customer deposit refunds.
(C) Disbursements from the Fund shall be made upon certification by the City Controller and the approval of claims by the EC Water Utility Board of Trustees.
(D) Said fund shall be perpetual in nature; however, should the Fund terminate for any lawful reason, any balance of said Fund shall be transferred to the Water Utility Fund 0601.
(Ord. 11-0014, passed 7-25-2011)