The Waterworks Commission shall furnish to the City Council on the first Monday in June and first Monday in December each year, a report showing financial condition of said plant and detailed statement of its receipts and expenditures; of additions and repairs that have been made thereto; and amount of funds on hand. The money received from any source shall be deposited in a good and solvent bank or bank and trust company in the state, as may be designated by the City Council, and disbursed as provided by the Waterworks Commission.
(Prior Code, § 36.26) (Ord. 132, passed 11-5-1934)