§ 16.14.070. Sewer utility fund—Created—Use.

There is hereby created and ordered to be established in the treasury of the city a separate fund hereby designated as the "sewer utility fund." All revenues derived from the sewer service charges herein established including any investment earnings of such revenue shall, when received, be promptly paid into the "sewer utility fund." The moneys in the fund shall be used for the purposes and in the order following:

(a)

Paying the cost and expense of the administration, operation, and maintenance of the sewerage system of the city;

(b)

Paying the cost of alteration, reconstruction, repair, improvement, extension and enlargement of the sewerage system of the city when authorized specifically by the city council or as approved in the city's annual capital budget or annual operating budget;

(c)

Paying the principal of and interest on any bonds that have been heretofore or may be hereafter authorized and issued for the purposes of improving or enlarging or extending main sewers, pumping stations, treatment works, and disposal works operated as a part of the city's sewerage system.

Such other accounts within the "sewer utility fund" may be established and maintained as are in the judgment of the city manager necessary for the proper administration of this city's sewerage system.

(Ord. No. 26-506 § 7)