The funds received from the collection of the charges or rentals authorized by this chapter shall be deposited daily with the City Treasury, and shall be accounted for and be known as the Utility Fund and, when appropriated by the City Council, shall be available for the purpose of payment of the costs and expenses of the management, maintenance, and repair of the city’s potable water system. Any surplus in the funds shall be used for the payment of the interest on the certificates issued and outstanding, or which may be issued, to provide funds with which to pay the city’s portion of the cost of constructing the potable water system, or part thereof, and/or for the enlargement or replacement of the potable water system, and pumping works.
(Ord. 1386-19, passed 10-28-19)