(A)   A charge be made against the city for services rendered thereto by the water works system of the city on account of fire hydrants comprising a part of the system.
   (B)   The annual charge or rental for each fire hydrant now or thereafter included in the water works system, shall be the sum of $40 which sum has been ascertained and is hereby declared to be a reasonable charge for the use or benefit, or both, accruing to the city on that account.
   (C)   The charges shall be paid annually by the city on December 31 of each year for the services rendered during that year, the first payment to be made on December 31, 1937 and the proceeds from the payment shall be deposited with other revenues derived from the operation of the water works system into a fund separate and apart from other city funds, the fund to be used for the payment of the reasonable cost of operating and maintaining the water works system and for the payment of principal and interest on outstanding water revenue bonds as therefor provided by ordinance.
   (D)   In order to pay the annual charges or rental for the fire hydrants, an annual tax on each $100 valuation of all taxable property in the city in an amount sufficient for that purpose, shall be and is hereby levied on the property, and shall be annually assessed and collected and applied to the purpose named.
   (E)   The necessity of establishing charges for hydrant rentals, so as to facilitate the issuance of water revenue bonds heretofore authorized, and provide for the repair, improvement and rehabilitation of the water system of the city, which is necessary for the promotion of the public health, peace and safety, requires that this section shall take immediate effect.
(Ord. 63, passed 3-15-1937)