There is hereby established within the Water Department's budget a separate fund which shall be known as the Operation, Maintenance and Replacement Contingency Fund. Initially the amount of said Fund shall be five and one-half percent (5½%) of the actual operation, maintenance and replacement costs of the year immediately preceding the effective date of this section. Thereafter, said Fund shall be maintained in an amount equivalent to five and one-half percent (5½%) of the previous year's actual operation, maintenance and replacement costs. The monies in said Fund shall be used only for unusual, extraordinary or emergency expenses incurred in the operation, maintenance and replacement of the Water Department. Any moneys used from said Fund shall be returned to it no later than the first Monday of the month of February of the following fiscal year. (Ord. 167-96. Passed 9-16-96.)