135.21 WATER AND SEWER MANDATE IMPROVEMENT RESERVE FUND.

   (a)   There is hereby established a Water and Sewer Mandate Improvement Fund. This fund shall be used for the purpose of complying with government mandates and ensuring adequate funding of water and sewer line maintenance and infrastructure.

   (b)   Funding of the Water and Sewer Mandate Improvement Reserve Fund will be as follows:

      (1)   One percent (1%) of all General Fund Revenue will be deposited to the Water and Sewer Mandate Improvement Reserve Fund.

         (Ord. 114-2020. Passed 12-15-20.)

      (2)   No deposits will be made to the Fund when the unencumbered fund balance is two million dollars ($2,000,000) or more.

         (Ord. 50-2017. Passed 7-18-17.)