All or part of any surplus funds of the Water Department Account, over and above any amount necessary to operate the Department for the fiscal year, and over and above the amount necessary for the payment of any recurrent obligations, and over and above any amount necessary for the payment of outstanding principal and interest or any funded or bonded obligations, may be set aside for anticipated Water Department or water service capital improvement and/or be transferred to the General Fund of the City and designated for capital improvement use, upon a recommendation of the Mayor and upon the affirmation of a majority of the members of Council.
(1974 Code 1.125)