The purpose of the water fund shall be to provide for and reflect the operations of the city's water utilities system. It shall be the repository of moneys derived from the sale of water through the system and for water services, and shall be restricted in use to the maintenance and operation of the city's water utility system; provided, however, that as of the end of each year, the city council may order transferred to the capital outlay fund such amount as it deems necessary to provide an adequate reserve for replacements and any surplus therein may be transferred to the general fund.
(Prior code § 2.12.130 (Ord. 506 § 5(h), 1961))