(A) There is hereby created in the water budget an account titled Debt Retirement and Emergency Fund into which Council may, from time to time, place funds of the city and revenues of the Water Department, in such amounts as Council determines is justified.
(B) There is hereby created in the sewer budget an account titled Debt Retirement and Emergency Fund into which Council may, from time to time, place funds of the city and revenues of the Sewer Department, in such amounts as Council determines is justified.
(C) The fund balances in these accounts may be used to retire any debt, note, loan, bond, or other indebtedness of the Water and Sewer Departments. Further, fund balances may be used for immediate acquisition of any item or labor necessary for the safe and efficient operation of the departments.
(D) No part of these funds shall be transferred to another budget item outside of the water or sewer budgets in excess of the amounts derived from water and sewer revenues placed in these funds.
(1982 Code, § 35.60) (Ord. 1988-8, passed 3-7-1988)